10 min read For many, a side hustle is a vital source of additional income, offering flexibility and helping to boost savings. Whether you’re a freelancer, an online seller, or involved with cryptoassets, the gig economy offers opportunities, but also brings crucial tax responsibilities. Now, HMRC is encouraging side hustlers to get their tax returns […]
Category Archives: Taxation
27
Jun
Jun
10 min read The Autumn Budget brought significant changes to the landscape of company car taxation, requiring businesses to carefully reconsider their fleet strategies. With benefit-in-kind (BiK) rates now confirmed for the next five tax years, it’s crucial to understand the implications for different vehicle types and plan accordingly to avoid unexpected costs. This blog […]
Accounting, Business Challenges, Taxation
Spring Statement 2025: New rules that could impact your rental income
30
Apr
Apr
10 min read The Spring Statement confirmed billions in spending cuts, which could have a ripple effect on the economy, including the rental market. With landlords still adapting to tax changes from the 2024 Autumn Budget, these new measures may bring added financial pressures. For property investors, understanding how these cuts might impact rental demand, […]
30
Apr
Apr
10 min read This year, HMRC has been particularly active in sending out P800 letters, with many households receiving notifications of refunds ranging from a few pounds to several hundred. With the cost of living crisis continuing to impact households across the country, these refunds could provide a much-needed financial boost for many. In this […]
27
Mar
Mar
10 min read The UK tax year-end, falling on April 5th, is a critical deadline for all taxpayers, and landlords are no exception. With the clock ticking, it’s imperative to get your financial affairs in order to avoid penalties and, more importantly, optimise your tax position. Failing to prepare can lead to missed tax relief […]
28
Feb
Feb
10 min read The rise of the internet has democratised entrepreneurship, leading to a surge in side hustles and online businesses. From selling handmade crafts on Etsy to offering freelance services, individuals are finding new ways to generate income. However, this digital gold rush has also brought to light the issue of undeclared online income, […]
28
Jan
Jan
10 min read Are you a freelancer in the UK? Are you confused about how to handle your taxes and finances? Don’t worry! This blog post will explain the Self Assessment process for freelancers. Understanding Self Assessment is essential to help you meet your tax obligations and follow HMRC rules. If you want to manage […]
05
Nov
Nov
10 min read Chancellor Rachel Reeves delivered the Autumn Budget 2024, which included tax changes and spending measures to stimulate the economy and support businesses and households. Here’s a breakdown of the critical measures impacting landlords and small businesses in the UK. Tax changes impacting landlords: 1. Stamp Duty Land Tax (SDLT) changes New rates […]
30
Oct
Oct
10 min read If you’re a UK landlord, you need to pay rental income tax on all annual gross property income over £1,000 (your property allowance). In case you haven’t been paying the tax you owe, whether because of a lack of knowledge about your liability or other factors, you have the opportunity to rectify […]
17
Jul
Jul
Understanding and navigating the complex ecosystem of the construction industry and the tax landscape is a crucial responsibility for contractors. The Construction Industry Scheme (CIS) tax deductions can be overwhelming, but mastering them is necessary for accurate tax filing and avoiding penalties. This knowledge empowers contractors, giving them control over their financial responsibilities. It’s […]
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Or, email us at info@wearegolding.com
