AI vs Tax Advisor: Why London Still Needs Tax Experts (CIGMA Guide, 2025) Artificial intelligence (AI) is changing how London businesses learn, plan and communicate. You can ask an AI to explain capital allowances UK, sketch a worked example of marginal relief, or draft a board paper about R&D tax credits London. That’s progress. But … Continue reading AI vs Human Tax Advisor
Your 2025/26 Corporation Tax Roadmap - Cut Liabilities, Stay Compliant Corporation Tax is one of the largest financial obligations faced by UK companies. For entrepreneurs, SMEs, scale-ups, and high-net-worth directors across London, Sutton, Wimbledon, Farringdon, Chelsea, and Canary Wharf, understanding how Corporation Tax works - and how to plan for it - can mean the … Continue reading Your 2025/26 Corporation Tax Roadmap - Cut Liabilities, Stay Compliant
Capital Gains Tax vs. Income Tax on Rental Income: Essential Information for Landlords Inheriting a buy-to-let property-can be both a financial boon and a complex tax situation. When-selling such a property, understanding Capital Gains Tax (CGT) is crucial to avoiding unexpected liabilities.-If you sell an inherited buy-to-let property at a profit, you will be liable … Continue reading Capital Gains Tax on Inherited Buy-to-Let Properties: Essential Information and Expert Tips
Capital Gains Tax vs. Income Tax on Rental Income: Essential Information for Landlords Navigating the complexities of tax regulations can be a daunting task for landlords in the UK, particularly when it comes to understanding the differences between-Capital Gains Tax-(CGT) and-Income Tax on rental income. Each type of tax has its own set of rules, … Continue reading Capital Gains Tax vs. Income Tax on Rental Income: Essential Information for Landlords
Understanding Capital Gains Tax on Buy-to-Let Properties in the UK: Key Insights and Practical Tips Understanding Capital Gains Tax on buy-to-let properties in the UK can seem daunting, but it is crucial for property investors to grasp. Capital Gains Tax (CGT) is a tax on the profit made from selling assets that have increased in … Continue reading Understanding Capital Gains Tax on Buy-to-Let Properties in the UK: Key Insights and Practical Tips
Strategies to Reduce Capital Gains Tax on Your Buy-to-Let Property: Practical Tips for Investors Capital Gains Tax on buy-to-let properties can significantly impact your return on investment. Fortunately, there are several strategies that you can employ to reduce this tax liability.-Making use of tax planning and allowable deductions helps in mitigating the tax burden effectively. … Continue reading Strategies to Reduce Capital Gains Tax on Your Buy-to-Let Property: Practical Tips for Investors
How to Choose the Right Accounting Software for Your Business: Key Factors to Consider Choosing the right accounting software for your business is crucial to maintaining financial health and ensuring efficient management of transactions. With numerous options available, it-s vital to recognise what specific features your business needs to streamline operations.-Focus on the software's ability … Continue reading How to Choose the Right Accounting Software for Your Business: Key Factors to Consider
The Role of an Accountant in Business Growth and Development: Key Contributions and Strategies In today's competitive marketplace, the skills and insights of an accountant are indispensable for business growth and development. Accountants do far more than just keep financial records; they are strategic partners who play a crucial role in financial planning, risk mitigation, … Continue reading The Role of an Accountant in Business Growth and Development: Key Contributions and Strategies
Managing Cash Flow: Essential Tips for Sustained Business Success Managing cash flow is critical for the success of your business.-By mastering effective-cash flow management-techniques, you can maintain your financial health, ensuring that you have enough liquidity to meet expenses and seize growth opportunities.-Understanding cash flow allows you to predict trends and make informed decisions that … Continue reading Managing Cash Flow: Essential Tips for Business Success
The Importance of Bookkeeping for Small Businesses: Essential Tips and Best Practices Effective bookkeeping-is a cornerstone of any small business's success.-Accurate bookkeeping allows business owners to-track income and expenses, ensuring they understand their financial position at all times.-This transparency is crucial for making informed decisions, planning for future growth, and avoiding cash flow problems that … Continue reading The Importance of Bookkeeping for Small Businesses: Essential Tips and Best Practices
Ecommerce Accounting: Introduction for UK Businesses Are you an ecommerce entrepreneur in the UK looking to navigate the complex world of accounting? Managing the financial aspects of your online business can be daunting, but with the right knowledge and support, you can streamline your processes and ensure compliance while focusing on growing your venture.At CIGMA … Continue reading Learning Ecommerce Accounting: Guide for UK Businesses
Understanding HMRC Reporting: Essential Employee Changes for UK Businesses In the intricate world of business finance, meticulous reporting is not just a legal obligation but also a crucial aspect of maintaining accuracy and compliance. As a UK-based accounting firm committed to your financial success, CIGMA Accounting understands the importance of navigating HM Revenue and Customs … Continue reading Guide to HMRC reporting: Employee Changes
How should you handle late filing penalties? Are you one of the 3.8 million individuals who have yet to file their 2022-23 self-assessment return? With the 31 January 2024 deadline already passed, it's essential to understand the consequences of missing this crucial date, especially if you're in the UK. Consequences of Missing the Filing Deadline … Continue reading Handling late filing penalties from HMRC
Unlocking Financial Support: A Guide to Carer's Credit Are you tirelessly caring for someone for at least 20 hours a week? If so, you might be eligible for Carer's Credit, a National Insurance credit designed to bridge gaps in your National Insurance record. This credit not only supports your caregiving responsibilities but also plays a … Continue reading A Guide to Carer’s Credit from CIGMA Accounting
Maximizing VAT Efficiency: Understanding the VAT Flat Rate Scheme Navigating the complexities of VAT can be a challenging endeavor for UK businesses, especially when looking for ways to simplify and potentially reduce tax liabilities. CIGMA Accounting, a leading UK accounting firm, sheds light on the VAT Flat Rate Scheme - an often underutilized yet beneficial … Continue reading Make VAT Efficient: Understand Flat Rate VAT
Navigating Turbulent Times: Smart Financial Strategies for 2024 As we step into a fresh new year, it's the perfect time for business owners to engage in some essential business planning, particularly in the realm of protecting business capital. With the ongoing downturn in global trade - influenced by geopolitical tensions and economic challenges - it's … Continue reading Navigating Turbulent Times: Smart Financial Strategies for 2024
Navigating Business Asset Disposal Relief for UK Entrepreneurs For UK entrepreneurs and business owners considering the sale of their business, shares in a trading company, or an interest in a trading partnership, understanding Business Asset Disposal Relief (BADR) is crucial. At CIGMA Accounting, we're dedicated to guiding you through the intricacies of BADR to ensure … Continue reading Navigating Business Asset Disposal Relief for UK Entrepreneurs
How to claim work from home tax relief in the UK As we step into the final quarter of the year, it-s vital to stay ahead of the impending UK tax deadlines to ensure a smooth end to the financial year. Below, we have listed the crucial tax dates for October and November 2023 that … Continue reading Key UK tax dates for October and November 2023
Early company accounting filing can save you from penalties Running a business in the UK entails several responsibilities, and foremost among them is ensuring that your company's accounts are filed on time. Companies House, the executive agency responsible for company registration, has recently emphasised the importance of this duty and emphasised the fines that result … Continue reading Early company account filing can save you from penalties
Change to Self Assessment Threshold: Are you affected? The world of tax is always evolving, and we understand how crucial it is for our clients to stay informed. Recent changes by HMRC regarding the Self-Assessment threshold could affect many taxpayers, and we're here to break it down for you. Increased Threshold for Self-Assessment from 2023-24 … Continue reading Self-Assessment Threshold Change for 2023-24: Find out if you’re affected
BEST AND WORST BANKS IN GREAT BRITAIN If you're in the market for a new bank, whether for your personal or business needs, you'll want to take a close look at the latest rankings. Recently, a comprehensive survey in Great Britain asked current account holders to rate their providers on various metrics, such as online … Continue reading The Best and Worst Banks in Great Britain Revealed
How to claim work from home tax relief in the UK The world of VAT (Value-Added Tax) can seem complicated, especially when it involves leasing vehicles for your business. While leasing often provides flexibility and financial benefits, the intricacies of VAT recovery on these leases can be confusing. This guide aims to simplify VAT treatment … Continue reading How to Navigate VAT Recovery When Leasing Business Vehicles
How to claim work from home tax relief in the UK When you-re self-employed in the UK, understanding your National Insurance contributions (NICs) is critical for both compliance and for securing your future benefits such as the State Pension. For the 2023-24 tax year, the HMRC highlights two primary classes of NICs that self-employed individuals … Continue reading Class 2 and Class 4 NICs: Quick Reference for Self-Employed Individuals in the UK
VAT Supplies for No Consideration: What You Need to Know Value Added Tax, commonly known as VAT, is a part of everyday business transactions. However, not all supplies are straightforward, and the landscape gets complicated when dealing with VAT supplies for no consideration. This concept seems counter-intuitive because, in most cases, 'supply' generally involves a … Continue reading VAT Supplies for No Consideration: What You Need to Know
The definition of a connected person for tax purposes can be complex. A statutory definition of “connected persons” for Capital Gains Tax purposes is set out in Section 286 of the
If you have taxable income of less than -17,570 in 2023-24 you will have no tax to pay on interest received. This figure is calculated by adding the -5,000 starting rate limit for savings (where 0% of
The Construction Industry Scheme (CIS) is a set of special tax and National Insurance rules for those working in the construction industry. Businesses in the construction industry are known as
If you inherit property, you are usually not liable to pay tax on the inheritance you receive. This is because any Inheritance Tax (IHT) due should be paid out of the deceased-s estate before any cash
Key HMRC Deadlines for July and August 2023 As we step into July and August 2023, it's essential to stay updated with the upcoming deadlines from HM Revenue and Customs (HMRC). Here's a comprehensive guide to help you navigate these crucial dates and ensure that your business remains tax compliant.1 July 2023 - Corporation TaxThe … Continue reading Key HMRC Deadlines for July and August 2023 You Need to Know
National Insurance credits can help qualifying applicants fill gaps in their National Insurance record. This can assist taxpayers to build up the number of qualifying years of National Insurance
