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 […]
Category Archives: Taxation
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 […]
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 […]
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.
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