Update January 2023: Making Tax Digital MTD for income tax has been delayed by two years until April 2026. Payment on account can be one of the most common stumbling blocks when it comes to your self-assessment tax return. Although it was introduced as an
Read moreA hobby is an activity performed for fun, whether that’s making art prints of movie stills or teaching guitar basics on YouTube. When this activity becomes monetised, that’s when you draw the attention of HMRC and your hobby may be regarded as a business. Once
Read moreIf you are serious about buy to let, there is one question, more than any other, you need to answer: What’s it going to cost? Spoiler alert: Expats will almost always pay more when they buy property in the UK. Does that mean you shouldn’t
Read moreIn the UK, landlords are able to save tax by sharing the Personal Allowance of their lower-earning spouse. This way, they can maximise the total household’s take-home pay without falling foul of the taxman. However, there are strict rules. And it’s for this reason that
Read moreThe Self-Employed Income Support Scheme (SEISS) has been a lifeline to many sole traders during the coronavirus pandemic. Provided they’ve met the necessary criteria, these individuals have been supplemented with up to 80% of their average trading profits. However, these grants are taxable – meaning
Read moreWith over 15 years of buy to let investment experience that began the minute I became an expat, I think I’ve learnt a few things that anybody new to the space might find useful. Of course, I’m not the only one. According to CBRE, 3%
Read moreFor many people, becoming their own boss is the dream. They get to work in an industry they love, choosing their own clients and – better yet – their own hours. The only problem is that becoming self-employed isn’t that straightforward. At least, not on
Read moreBeing non resident has its advantages. Unfortunately, stamp duty isn’t one of them. I’m always running into dreamers that expect stamp duty to be abolished one of these days. That’s wishful thinking. After all, stamp duty has been going since the dawn of time. Well,
Read moreUpdate January 2023: Making Tax Digital MTD for income tax has been delayed by two years until April 2026. On 1st April 2021, the soft-landing period for eligible businesses over the VAT threshold to comply with Making Tax Digital (MTD) for VAT will come to
Read moreIf you as an expat sole trader want to prepare for the 2021/22 tax year, then look no further than Rishi Sunak’s much-talked-about Budget. In it, the Chancellor promised to do whatever it takes to protect jobs and livelihoods, and outlined how the government intends
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