Over the past few years, tax enquiries aimed at identifying and correcting errors or deliberate under-reporting in tax returns have increased. HMRC generates substantial revenue
A sole trader or partnership business may make a loss for several reasons – not necessarily because it is not doing well. A business can
Many parents who fell within the ambit of the High Income Child Benefit Charge (HICBC) opted not to receive child benefit, rather than to receive
There are various reasons why a person may not have told HMRC about the tax that they owe, ranging from a simple oversight to the
If you provide your services personally to an end client through your own limited company or other intermediary, you may fall within the scope of
HMRC have a range of powers at their disposal to collect unpaid tax. If you are struggling to pay a tax bill, or know that
A property rental business will have a start date, and it is important to know when this is. A landlord will normally undertake some preparatory
If you’re a property owner, landlord, or investor, having a knowledgeable property tax accountant can save you time and money. Whether it’s managing capital gains
To close a limited company in the UK, it is essential to follow the proper procedures to ensure full compliance with all legal and tax
What is a Unique Tax Reference Number (UTR)? A Unique Tax Reference (UTR) number is a 10-digit code issued by HM Revenue and Customs (HMRC)
Keeping track of the important dates in the UK tax year is crucial for staying compliant and avoiding penalties from HMRC. Whether you’re self-employed, running
Scammers Targeting Taxpayers HMRC scam letters have become increasingly common, with fraudsters attempting to trick people into handing over sensitive information or money. These scam
Dividends are payments made by companies to shareholders from their profits. The dividend allowance is the amount of dividend income you can receive each tax
Anyone who invests in a company is taking a chance, hoping that the directors, as representatives of the company, will use the money to increase
As ever, the answer to this question depends on what type of professional fees have been incurred. Professional fees are income and corporation tax deductible
Despite the improving economy, bad debts are still a fact of life for many businesses. HMRC is aware that not all invoices are paid on
It is usual for a landlord to require a deposit from a tenant as security against damage to the property. This cannot be more than
Where a landlord makes a loss on their property rental business, the options for using that loss are limited. The rules depend on whether the
Landlords with furnished holiday lettings (FHLs) currently enjoy favourable tax advantages compared to those letting residential property on longer term lets. However, these advantages are
The remittance basis of tax is an optional tax treatment that allows individuals who are resident but not domiciled in the UK to pay tax
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