This page contains all of the personal income tax changes which were announced at the October 29th, 2018 Budget. These rates come into effect at the start of the new tax year, on April 6th 2019.
With campaign letters and enquiries on the rise, what is it that HMRC are looking for? Here’s an overview of the main categories of mistakes.
As property tax advisers, one of the most common questions we get asked is how you can avoid paying tax on my rental income.
Our latest tax feature, this time focusing on Capital Gains Tax, exploring the basics and full of tips to reduce your CGT liability.
Are you a Landlord? This article aims to help you make the most of your rental income.
How do you feel now you have received a letter from HMRC’s Let Property Campaign office? Worried?
Section 24 and the restriction in mortgage interiest and finance costs have been a hot topic for landlords in recent months. Let's take an indepth look at the changes being phased in by HMRC
For the holiday maker & professionals alike, it’s safe to say that short-term let platforms - such as AirBnb, Flipkey, or Homeaway - have been a bit of a game changer.
Michael Wright, our Property Tax Expert, from RITA4Rent, takes a run through the decision making process to help you weigh up what the appropriate course of action is for you.
The latest attack on landlords was during the October 2018 Budget, with the focus this time on the sale of their investment property.
Our detailed Landlord Tax Guide, where our property tax experts tell you what you can claim in expenses along with a comprehensive insight into HMRC tax rules and recent changes.
One of the main benefits of trading as a Limited Company contractor is that you can claim back business expenses for anything you purchase for your business, and in turn, claiming for these expenses can lower your tax bill.
Value Added Tax (VAT) is a standard consumption tax levied on almost all goods and services in the UK. If you’re a contractor, working through your own Limited Company, registering for VAT could significantly improve your tax efficiency.
There may be a time when you need to loan money to or borrow money from your own Limited Company. Now you may think it’s your company and you can do what you want, but director’s loans are wrapped up in fiddly bits of legislation and when borrowing cash from your company, care must be taken. You must ensure that you fully understand the tax implications before you take any kind of loan from your business.
IR35 is a complex piece of legislation used to distinguish between true self-employed contractors and employees. As a contractor, it’s important that you have an awareness and understanding of IR35 to ensure that you’re paying the correct amount of tax and National Insurance. Here’s a definitive introduction to IR35 to help you understand how it works.
With the impending IR35 changes right around the corner, the Limited vs Umbrella debate is on a lot of contractor’s minds. But what really is the difference and which one will be most beneficial to you?
IR35 is a tax legislation used to distinguish between employees and genuinely self-employed contractors. We take an in-depth look at how the ‘off-payroll working’ rules, introduced to the public sector in 2017, will be extended to medium and large-sized businesses in the private sector from April 2020.
Our guide to help you declare all additional income to HMRC. Not doing so can end up being an expensive mistake.
Are you unsure about whether you need to register as Self-Employed for tax purposes? Our guide can help you.
If you sell BTC (business to consumer) i.e. your customers cannot reclaim VAT, some businesses may be able to split their business by service to avoid crossing the VAT threshold.
What are the tax implications of buying a company car from a tax perspective? Take a look at our indepth analysis.
The government has started to roll-out Making Tax Digital (MTD) in a bid to engineer the UK tax system so that it embraces the online era. I hope this guide will help you understand the implications.
There are significant differences to how much tax you pay in Scotland in comparison to England.
Following the start of a new tax year, it’s always useful to stay abreast of changes to your responsibility. Certain legislative updates in 2019 have been overshadowed by the spectre of Making Tax Digital for VAT, causing smaller (but significant) changes to be overlooked.
Are you paying your accountant to prepare your books? Could you save some money by hiring a bookkeeper? Clare Doherty explains the key differences…
Let’s start with a thought experiment. I’ll set the scene. You’re a limited company owner, and you, as the director, are the sole employee. You also - understandably – love learning about tax. You open up the Monday morning paper to find some exciting news - HMRC has hinted there are going to be some big changes in the upcoming UK budget.....
A guide to tax efficient remuneration for Limited Company directors for
2019/20.
Making Tax Digital for VAT (MTDfV) comes into effect from 1st April 2019. With Chancellor Philip Hammond announcing in his 2019 Spring Budget that MTD for other taxes will not be mandated until at least 2021, all of our focus is now on the VAT implementation.
Tax planning for small businesses is not always straightforward, in fact it can be a serious minefield for the unwary. The chances are however that you and your business could almost certainly pay less in tax, with help from your tax advisor. Here are some tips to get you started.
Last minute Tax Planning. Our guide to what annual allowances you have and how to use them to reduce your tax bill.
Your Tax Code tells your employer how much tax to take off your pay. What if your code is wrong?
In the past 4 years, 1 in 3 employed taxpayers have been overcharged tax because their employer has received the wrong code from HMRC!
IR35 is a complex piece of legislation used to distinguish between true self-employed contractors and employees. As a contractor, it’s important that you have an awareness and understanding of IR35 to ensure that you’re paying the correct amount of tax and National Insurance. Here’s a definitive introduction to IR35 to help you understand how it works.
Almost 1 in 3 PAYE employees may have paid too much tax. We have put together a list of 14 reasons why you might be owed money by HMRC.
Tips on what business expenses you can claim when self employed.
Our guide to making your online self assessment return with tips on reducing you tax bill and avoiding fines.
Organised properly, freelancing/contracting can be the most rewarding way to make a living. Skilful tax planning can transform your finances - and with 15% of the workforce self-employed, financial services providers are at last offering the support contractors and freelancers need.
IR35 is a complex piece of legislation used to distinguish between true self-employed contractors and employees. As a contractor, it’s important that you have an awareness and understanding of IR35 to ensure that you’re paying the correct amount of tax and National Insurance. Here’s a definitive introduction to IR35 to help you understand how it works....
Your Tax Code tells your employer how much tax to take off your pay. What if your code is wrong?
In the past 4 years, 1 in 3 employed taxpayers have been overcharged tax because their employer has received the wrong code from HMRC!...
Almost 1 in 3 PAYE employees may have paid too much tax. We have put together a list of 14 reasons why you might be owed money by HMRC....
Tips on what business expenses you can claim when self employed....
Our guide to making your online self assessment return with tips on reducing you tax bill and avoiding fines....
Organised properly, freelancing/contracting can be the most rewarding way to make a living. Skilful tax planning can transform your finances - and with 15% of the workforce self-employed, financial services providers are at last offering the support contractors and freelancers need....
What are the benefits for contractors of setting up a Limited Company vs Umbrella Company? Read our guide, see how much you could take home in each setup....
Last minute Tax Planning. Our basic guide to what annual allowances you have and how to use them to reduce your tax bill for the 2014-2015 Tax Year. ...
The Listentotaxman guide to the changes to Stamp duty from the 4th of Dec 2014....
Our basic guide to Inheritance Tax (IHT) and how you can save by a bit of forward planning....
Our Guide to tax, VAT, NI for Contractors, including tax saving tips....
