As of 6 April 2024, the cash basis became the default method of accounting for...
Understanding Cash Basis Accounting for Your Self-Assessment Tax Return
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Reminder: Second Payment on Account Due Soon
As June progresses, it's important for all our self-employed clients, to...
Uncertainty Surrounds Non-Dom Reforms in Latest Finance Act
In the run-up to the early general election, the government expedited the...
HMRC’s “One-to-Many” Campaign Targeting Rollover Relief Claimants
HMRC's latest “One-to-Many” campaign is targeting individuals who have...
Update on Advisory Fuel Rates for Company Cars
The advisory fuel rates (AFRs) for company cars changed on 1 June 2024. These...
The Impact of Lower Inflation
What is Inflation? Inflation measures the change in prices of goods and...
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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...
The Bank of England cuts base rate to 5%
As of last week, August 1st, 2024, The Bank of England (BoE) reduced the base interest rate to 5%, the lowest it’s been since 2020. The 0.25% cut will impact things such as mortgages and savings rates, but by just how much, time will only tell. Why have interest rates...
Understanding Private Residence Relief (PPR)
Private Residence Relief can be a game-changer when it comes to payable Capital Gains Tax (CGT) when selling your home. Here's a simple guide to help you understand how absences and deemed occupation influence PPR relief. So what is Private Residence Relief (PPR)? PPR...
HMRC Introduces VAT Estimator for Small Businesses
HMRC has released a Value Added Tax (VAT) Registration Estimator for small businesses. This tool will inform businesses whether registering for VAT would benefit them, especially as the threshold now sits at £90,000. What is the VAT Estimator? In its...
Claiming Your State Pension Abroad: A Quick Guide
Are you thinking of retiring abroad? Here's what you need to know about claiming your UK State Pension. Eligibility and Claiming You can claim your State Pension abroad if you've paid enough UK National Insurance contributions. Check your State Pension forecast to see...