Category Archives: Taxation

Property investing vs. trading: Benefits & tax implications

investing in property

Influenced by a chronic undersupply, rising demand for property in the UK and the turbulence of the last two years owing to the pandemic, long-term forecasts for property investing are incredibly optimistic.  We could see the UK home prices grow by 21.5% by 2025. On the other hand, JLL, the real estate and investment management […]

What do I do if I have undeclared rental income?

yellow-rental-property

There are thousands of landlords in the UK, owning and renting out second properties. The majority of these landlords declare their income and pay taxes on the profits on their tax return.  But what do you do if you have rental income that you have not yet declared to HMRC? Whatever the reason for it, […]

What is the Domestic Reverse Charge and how does it affect my construction business?

Construction-Yellow

You may have already heard about the Domestic VAT Reverse Charge that came into effect from 1st March 2021. This is a change in the way contractors and subcontractors in the construction industry will account for VAT, specifically aimed at VAT registered businesses working under the Construction Industry Scheme.  These changes can often feel complicated […]

What if I can’t pay my Self Assessment Tax in full by April 1st?

Yellow-Cups-Inhale-the-Future-Exhale-the-past

If you missed the payment deadline for Self Assessment on 31st January, there’s good news.  HMRC are giving you more time to pay your Self Assessment Tax due to the impact of Covid-19.  Although the deadline didn’t change in 2021 despite the financial hardship faced by many businesses in the Covid Crisis, taxpayers will have […]