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? If you haven’t filed your Self Assessment tax return yet and the 31 January deadline is approaching, you’re not alone — but the clock is already working against you. Each year, tens of thousands of UK taxpayers file after the deadline, often unintentionally — and many only realise … 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
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
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
It was announced as part of the Spring Budget 2023 measures that the government would establish twelve Investment Zones across the UK, subject to successful proposals. South Yorkshire has now been
As a general rule, if you are resident in the UK, you are liable to pay Capital Gains Tax (CGT) when you sell (or dispose of) an overseas property at a gain. The annual exempt amount applicable to
In general, there is no Capital Gains Tax (CGT) on a property which has been used as a main family residence. An investment property which has never been used will not qualify. This relief from CGT is
HMRC’s Self-Assessment helpline closed on 12 June 2023 and will re-open on 4 September 2023. This closure is part of a trial to direct Self-Assessment queries from the helpline to HMRC’s digital services, including online guidance, digital assistant and webchat. This move has been planned for a ‘quiet’ time for Self-Assessment queries and the helpline will … Continue reading HMRC-s Self-Assessment line summer closure
