Making Tax Digital
MTD latest update
Nearly ten years ago in March 2015 the then-Chancellor George Osborne announced a government initiative setting out a vision for the ‘end of the tax
November 11, 2024
Autumn Budget 2024
Key Highlights for Autumn Budget 2024
The UK Autumn Budget 2024 introduces several changes impacting taxpayers and businesses alike. Here’s a snapshot of the most significant updates to help you stay
November 9, 2024
Finance & Accounting
Is there such a thing as having too much cash?
While having more money in your bank account than is needed may seem ideal, for director shareholders of a company with surplus cash, it could
November 8, 2024
Home Responsibilities Protection
Home responsibilities protection do you have missing years?
Entitlement to the full state pension depends on having sufficient qualifying years. Where a person reaches state pension age on or after 6 April 2016,
November 6, 2024
Company loan
Overdrawn director’s loan account must your company pay tax on the balance?
In personal and family companies, the lines between the company’s finances and the director’s finances may become blurred. A director may withdraw money from the
November 5, 2024
VAT
VAT invoice and accounting controls
VAT registered businesses who use invoice accounting generally account for VAT when invoices are issued and received. HMRC have recently published new Guidelines for Compliance
November 4, 2024
VAT
VAT the partial exemption ‘trap’
If a VAT registered business has taxable income only (including zero-rated sales), it is entitled to full input tax recovery on its expenses, subject to
November 3, 2024
Tax Form
Understanding the P60: Your Essential UK Tax Form Explained
If you’re employed in the UK, you’ve probably heard of a P60, but what exactly is it, and why is it important for your financial
October 16, 2024
Property Business
UK tax treatment of rent from overseas properties
A person who is resident and domiciled in the UK is liable to UK tax on their worldwide income. Consequently, if they have overseas property
October 15, 2024
Property Business
Using a property company for furnished holiday lets
The current tax regime for furnished holiday lettings has a number of advantages, including the ability to deduct interest and finance costs in full when
October 13, 2024
Tax Implications
Tax implications of building an office for home working
Following the pandemic, flexible working hours are on the increase. This shift has provided employees with the legal right to request flexible working from the
October 12, 2024
Finance & Accounting
Should you dispose of old documents?
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
October 10, 2024
Tax planning
Tax planning for trading losses
A sole trader or partnership business may make a loss for several reasons – not necessarily because it is not doing well. A business can
October 9, 2024
Finance & Accounting>Child Benefit
Restarting child benefit claims
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
October 8, 2024
Voluntary disclosure
Making a voluntary disclosure if you have not told HMRC about tax that you owe
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
October 7, 2024
Finance & Accounting>IR35
Do I need to worry about IR35?
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
October 6, 2024
Tax bill
What can HMRC do if you do not pay your tax bill?
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
October 5, 2024
Property Business
Start of a property rental business
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
October 4, 2024
Property Accountant
Find Expert Property Tax Accountants Near You
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
October 1, 2024
Limited Company
How to Properly Close a Limited Company in the UK?
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
October 1, 2024