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
UTR
Understanding Unique Tax Reference Numbers
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)
September 27, 2024
Uk Tax Year
Key Dates of the UK Tax Year Don’t Miss These Deadlines
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
September 22, 2024
Hmrc Scam Letters
Beware of Fake HMRC Letters Spotting Scams Before They Cost You!
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
September 20, 2024
Finance & Accounting>Dividend
A Simple Guide to Tax on Dividends in the UK
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
September 18, 2024
Finance & Accounting>Company
The company makes a loss can a dividend be paid?
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
September 17, 2024
Finance & Accounting>Tax Deduction
Are professional fees tax deductible?
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
September 16, 2024
Finance & Accounting>VAT
Be aware of VAT bad debt relief
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
September 15, 2024
Property Business
Treating tenants deposits correctly for tax purposes
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
September 14, 2024
Property Business
Utilising losses from a property rental business
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
September 13, 2024
Finance & Accounting>Furnished Holiday Letting
End of the FHL regime and transitional rules
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
September 12, 2024
New Residence Based Regime
New residence based regime for foreign income and gains
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
September 10, 2024
Finance & Accounting>Tax Refund
Claiming refunds of overpaid PAYE
If it works correctly, the tax that is collected under PAYE will exactly match the tax that is due for the year. However, in practice,
September 9, 2024
Finance & Accounting>VAT
How Much VAT is Charged in the UK?
Value Added Tax (VAT) is a consumption tax that businesses must charge on the majority of goods and services they sell. The tax is applied
September 7, 2024
Workplace Nursery Partnership
Workplace nursery partnership schemes
No tax charge arises in respect of the provision of a nursery place for an employee’s child at a workplace nursery provided that the associated
September 6, 2024
VAT
VAT on school fees
As outlined before the election, the new Government are to go ahead with their proposal to impose VAT on school fees. Legislation was published in
September 5, 2024
Finance & Accounting>Tax Refund
Using form R40 to claim a tax refund
If you are entitled to a refund of tax deducted from savings and investment income, you can claim the refund using form R40 if you
September 4, 2024
Family Investment Company
Family Investment Company (FIC) Tax Guide in the UK
A Family Investment Company (FIC) is a private limited company used by families to manage and control wealth over generations. It is a popular vehicle
August 30, 2024
Rental Income
Tax Guide on Rental Income for Landlords?
As a landlord in the UK, it’s crucial to understand the tax implications of rental income. Whether you’re renting out a single property or have
August 29, 2024
Finance & Accounting>Furnished Holiday Letting
Beware of the lifetime limit when claiming BADR on the sale of the FHL
Landlords with furnished holiday lettings (FHLs) are living in uncertain times. At the time of the 2024 Spring Budget, it was announced that the favourable
August 22, 2024