3 min read 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 […]
Category Archives: Taxation
5 min read 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 […]
10 min read 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. […]
8 min read 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 […]
3 min read 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 […]
Blog, Business Challenges, Taxation
What is the Domestic Reverse Charge and how does it affect my construction business?
3 min read 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 […]
Business Challenges, Self Assessments, Taxation
What if I can’t pay my Self Assessment Tax in full by April 1st?
3 min read 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 […]
Since 6th April if you sell a rental property you’ll need to declare the capital gain to HMRC and pay the estimated tax within 30 days of completion of the sale.
Switching to an electric car won’t solve the world’s climate crisis, but it will have a positive impact by reducing the UK’s carbon footprint. Not to mention, a positive impact on your finances.