New VAT Error Correction Notice Online Form (VAT652)
HMRC launched a new VAT Error Correction Notice online form on 8 August 2022. Find out how to use the form to tell HMRC of any errors in your VAT return.
Option to Tax Land and Buildings – How Can I Recover VAT on Purchase of Commercial Property?
Option to tax land and buildings is a mandatory prerequisite if you would like to recover the VAT charged by the seller on the purchase of a commercial property. Click through to learn more.
How Does VAT Cash Accounting Scheme Work?
VAT Cash Accounting Scheme is very popular with small businesses due to the cashflow benefits it offers. Click through to learn how it works!
Mini Budget September 2022 – Which Taxes Have Been Cut?
Chancellor Kwasi Kwarteng has announced the biggest tax cuts for individuals and businesses in 50 years, including a permanent stamp duty cut!
Leasing an Electric Car Through a Limited Company
Leasing an electric car through a Limited Company has become very popular due to the generous tax cut in the form of a 2% Benefit in Kind (BIK) rate on fully electric vehicles.
Let Property Campaign – HMRC Letter Targets Landlords with Undeclared Rental Income
Let Property Campaign is a long-running disclosure opportunity aimed at residential property landlords who need to bring their tax affairs up to date.
How to Meet the MTD ITSA Requirements – Making Tax Digital for Income Tax Self Assessment
With the Making Tax Digital for Income Tax sign-up deadline fast approaching, we often get asked by clients how to meet the MTD ITSA requirements.
Accountants for a Buy to Let Limited Company
Are you looking for Accountants for a Buy to Let Limited Company to help you maximise profitability from your rental property portfolio?
Furnished Holiday Lettings – How Can My Property Qualify?
Profit from properties that meet the qualifying tests for furnished holiday lettings are taxed following the rental business calculation rules. Click through to learn more!
How to Pay Employers PAYE by Direct Debit?
From 19 September 2022, you can pay Employers PAYE by Direct debit. You will need to set up the Direct debit once. Click through to learn more!
Rent-a-room Scheme: Receipts Above Exemption Limit
The rent-a-room scheme provides two ways to work out the tax when receipts are above the exemption limit. Click through to learn more!
The Register of Overseas Entities – Starting Aug 2022
The Register of Overseas Entities will come into force in the UK through the new Economic Crime (Transparency and Enforcement) Act 2022. Overseas entities who want to buy, sell or transfer property or land in […]
Capital Gains Tax Rules for Separating & Divorcing Couples
The government has announced plans to change the CGT rules to give separating spouses & civil partners a longer period in which to transfer their assets.
How to Report and Pay Capital Gains Tax
There are different ways for individuals to report capital gains depending on whether you are resident or non-residenty and whether you are in or out of SA.
MTD ITSA Reporting Requirements from April 2024
Making Tax Digital for Income Tax will apply to relevant persons (unincorporated businesses & landlords) with business and/or property income over £10,000.