On Friday, Sir Keir Starmer assumed his new role as Prime Minister following...
Labour Win: What Does This Mean for UK Taxes?
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Overview of Voluntary National Insurance (NI) Contributions
Ensuring your National Insurance (NI) record is complete is crucial, gaps can...
Reminder for Self-Employed Clients: Look Out for an Email from Your Account Manager
As we move into July, it’s important to watch your inbox for an upcoming email...
Stamp Duty Land Tax (SDLT) Relief for Property Traders: Key Points
When a property trader buys a residential property from an estate, they can...
Warning: Scam Letters Impersonating Companies House
Business owners, beware! Scammers are sending fake letters pretending to be...
Bank of England Keeps Base Rate at 5.25% Despite Inflation Drop
The Bank of England has announced today that the base rate will remain at...
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Understanding MTD for ITSA: What You Need to Know
With Making Tax Digital (MTD) for VAT already in place, the government is pushing forward with the digitalisation of tax. The next step is aimed at self-employed individuals and landlords which will MTD for Income Tax Self-Assessment (ITSA). However, there have been...
Changes to Furnished Holiday Lettings Tax Regime
As of April 2025, the government will abolish the Furnished Holiday Lettings (FHL) tax regime. This move is part of a broader plan to level the playing field between landlords offering short-term holiday lets and those providing long-term residential properties, such...
Understanding Business Splitting – What It Is and How It Affects You?
As of 1 April 2024, the VAT registration threshold in the UK increased from £85,000 to £90,000. This means during twelve months, businesses with taxable sales exceeding £90,000 must register for VAT. The same applies if sales are forecasted to surpass this threshold...
Understanding Tax Deductible Repairs and Renewals
It is important to be able to distinguish between tax-deductible repairs and renewals. But what is the difference between them? Enhancements vs. Renewals: Any changes or enhancements made to an asset are considered capital, meaning they are not tax-deductible repairs...
How to Avoid a Huge Tax Bill When Working Abroad
What is the difference between being tax-free and paying a HUGE tax bill when you work abroad? It’s not a riddle or the start of a bad joke, the answer is simply one day. That is all it can take, just one day. When you are claiming non-residency under HMRC’s third...