Update January 2023: Making Tax Digital MTD for income tax has been delayed by two years until April 2026. April marks the start of the 2022/23 UK tax year, while also being the month when HMRC introduces some important tax changes. These can affect landlords
Read moreCryptocurrency tax: How to report & pay the right amount. In October 2021, HMRC was reportedly planning to send out “nudge letters” to holders of cryptocurrency (also called cryptoassets or just crypto), reminding them to check that they were reporting correctly and paying the required
Read moreUpdate January 2023: Making Tax Digital MTD for income tax has been delayed by two years until April 2026. Self Assessment Deadline Delay – Could you be charged? You were still required to send HMRC your 2020/21 Self Assessment tax return and pay any tax
Read moreMore than 12m people file a Self Assessment tax return each year, which is almost a fifth of the UK population. They include sole-trader bricklayers, plumbers and plasterers, as well as hairdressers, cake makers and chefs, and self-employed tutors, translators and tattoo artists. People of
Read moreThe 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
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