Category Archives: Taxation

The Autumn Statement – what does it mean for you?

Today, the Chancellor of the Exchequer, Jeremy Hunt outlined a series of sweeping measures to include tax changes and hidden tax increases, and cuts to Government spending. We highlight the main points below which will affect us all, and if you have any specific questions about these matters, please do not hesitate to contact a […]

Struggling to file taxes? Get Self Assessment tax return help.

The Self Assessment tax return filing deadline, i.e., January 31, is coming up, and businesses, individuals, and accountants across the UK are rushing to stay prepared for the tax season and end the year on a productive note. With Christmas also around the corner, it makes sense to start as soon as possible and get […]

Make calculating the tax on rental income easy: Top tips

As a landlord, your property is your most valuable asset. Letting out residential and/or commercial property is a great way to make passive income. However, navigating all the tax requirements related to reporting income tax on rental properties and capital costs can be tricky – unless you have a landlord accountant. In this blog, we […]

Property investing vs. trading: Benefits & tax implications

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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 […]

The negative consequences of not declaring rental income

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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 returns because they know the consequences of not declaring rental income.  But what do you do if you have rental income that you have […]

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

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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?

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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 […]