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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...
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...
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...
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...
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...