Uncategorized information and updates.
What Expenses Can You Claim on Your Rental Property? A Comprehensive Guide for Landlords If you own a rental property, knowing which expenses you can claim is key to reducing your tax bill. You can claim costs directly related to running, maintaining, and managing your rental property, as long as they are solely for your … Continue reading What Expenses Can You Claim on Your Rental Property? A Comprehensive Guide for Landlords
Why Creators Can’t Ignore Tax in 2025 The creator economy has exploded into the mainstream. Once seen as a quirky side hustle, content creation is now a multi-billion-pound global industry. YouTube channels rival traditional broadcasters, TikTok influencers fill stadiums, OnlyFans creators build empires, and Substack writers have disrupted the publishing industry. But with growth comes … Continue reading Content Creators & Influencers: The Complete 2025 UK Tax Guide
The Hidden Costs of Not Using Cloud Bookkeeping in 2025: Financial Risks and Efficiency Losses Explained If you-re still relying on traditional bookkeeping methods in 2025, you-re likely overlooking significant costs that cloud bookkeeping can help avoid. These hidden expenses go beyond the upfront fees and include inefficiencies, errors, and compliance risks that can quietly … Continue reading The Hidden Costs of Not Using Cloud Bookkeeping in 2025: Financial Risks and Efficiency Losses Explained
A Guide to the Most Frequent Errors Businesses Make When Applying VAT Reverse Charge and How to Avoid Them Navigating the VAT reverse charge can be tricky, especially for businesses in the construction industry. Many companies make common mistakes that can lead to significant financial penalties and compliance issues. Understanding these frequent errors will help … Continue reading A Guide to the Most Frequent Errors Businesses Make When Applying VAT Reverse Charge and How to Avoid Them
Eligible Assets for Super Deductions: Essential Information for Businesses Understanding which assets qualify for super deductions can significantly impact your business's tax strategy.Eligible assets include brand new and unused plant and machinery, along with specific special rate assets. By taking advantage of the super deduction, you can reduce your tax liabilities and invest more in … Continue reading Eligible Assets for Super Deductions: Essential Information for Businesses
A Declaration of Trust, also known as a Deed of Trust, is a legal document that outlines the ownership and distribution of assets between two or more parties. Alongside companies and partnerships, trusts are a common way for multiple individuals to jointly own assets. What is a Declaration of Trust? A Declaration of Trust is … Continue reading What is a Declaration of Trust for property?
Value Added Tax, or VAT, is a tax revenue collection method that taxes consumers and producers by adding a percentage of an item-s value to its price. Only businesses with a turnover above -85,000 need to charge VAT on their goods and services. The standard rate of VAT is 20%, but there are many items, … Continue reading Who can register for Flat Rate VAT?
The P800, P45, P60, and P11D forms are used for the PAYE scheme. Pay As You Earn, or PAYE, is the process whereby the taxes you owe on your income are taken off your pay before you receive it. This is done by your employer, who pays that money to HMRC. If you pay taxes … Continue reading What are P800, P45, P60, and P11D forms?
START-UP LOAN SCHEME SUCCESS? PREDICATABLE WORKING HOURS RECORD NUMBER OF TAX PAYERS FILE ON TIME LATE TAX PAYMENT INTEREST RATE INCREASE BECOMING AN AUTHORISED ECONOMIC OPERATOR CHANGE IN APPROVED ISA MANAGERS LIST The week of 13 February 2023 has seen positive reports from HMRC about its Start-up Loan Scheme and a record high of on-time … Continue reading Start-up loan success and new work hours rules - HMRC updates Feb Q2 2023
