The tax return deadline has been extended, what does this mean and five last-minute tips for landlords. You still need to send HMRC your 2020/21 Self Assessment tax return and pay any tax owed by 31 January, but due to coronavirus they will waive late
Read moreThe end of a year is when many of us reflect on the 12 months that have just gone: the highs and lows; the things we got right and the things we could have done better. If you’re a sole trader or freelancer, naturally, you’ll
Read moreThere are 2m limited companies actively trading in the UK, making up about 37% of the total business population (source: Federation of Small Businesses). Some have one company director, while others have more. Company director income is often made up of a relatively small amount
Read moreUsually, each December, with the 31 January online-filing deadline looming, many people start to worry about completing their Self Assessment tax return, when they’d much rather be getting into the Christmas spirit. Even if you leave it until after Christmas, having to complete your Self
Read moreWhich allowable expenses do buy-to-let landlords fail to claim? Although renting out property can offer excellent returns, it involves a wide variety of expenses, big and small. Thankfully, as you may know, many costs can be claimed as “allowable expenses”, which buy-to-let landlords can deduct
Read moreWhat are the tax implications of cryptoassets? Research suggests that some 2.3m adults in the UK now hold cryptoassets (also called cryptocurrency, crypto tokens or just “crypto”). That figure has increased by more than 400,000 since 2020 (source: Financial Conduct Authority), with more and more
Read moreUpdate January 2023: Making Tax Digital MTD for income tax has been delayed by two years until April 2026. With the 31st October paper return deadline fast approaching, we thought it would be useful to look at the paper return and the other methods you
Read moreShould you register as a sole trader or form a limited company? COVID-19 helped to push UK business start-up figures to new heights in 2020. According to the Centre for Entrepreneurs, annual year-on-year UK business formations in 2020 rocketed by 13% to 772,002. A key
Read moreUpdate January 2023: Making Tax Digital MTD for income tax has been delayed by two years until April 2026. This week MPs voted 319 to 248 for a 1.25 percentage point rise in National Insurance Contributions (NICs) for workers and employers to help fund health
Read moreUpdate January 2023: Making Tax Digital MTD for income tax has been delayed by two years until April 2026. How much do you know about Making Tax Digital (MTD)? Well, if you’re a UK landlord you should know some basic facts, because MTD could affect
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