Latest News & Updates
Interest Tax Relief On Mixed Use Properties
Understanding how Interest Tax Relief on Mixed Use Properties works is crucial for landlords. The tax treatment varies depending on whether the property is residential or commercial. Applying the correct rules ensures landlords maximise their tax relief while staying...
How Important Is It To Keep Receipts?
Buy something in a shop, and you may be asked if you want a receipt. While a receipt confirms a purchase, it is not legally required unless both buyer and seller are VAT-registered. Your consumer rights remain protected even without a receipt. For businesses, however,...
Temporary Workplaces and Tax
Temporary Workplaces and Tax, well where do you work matters for your taxes. Before COVID , most employees worked at a permanent workplace. This was usually the same office every day. Now, many people work from home and the office. Flexible working is common, and it...
Reporting Residential Property Gains
Selling a second home or investment property means Reporting Residential Property Gains. Owners must report residential property gains and pay capital gains tax (CGT) within strict deadlines. Failing to comply can result in penalties and interest charges. Why Sell a...
Understanding VAT & Dealing With It
Understanding VAT and dealing with it is the focus of today's blog. Value Added Tax (VAT), or as many call it, Very Awkward Tax, is a critical part of UK business. Whether you're a sole trader, a limited company, or a non-profit, VAT affects you. Understanding VAT...
Starting a Business as a Sole Trader
Starting a business as a sole trader means lots of decisions to make and stuff to do. One of the first questions is whether to run the business as a sole trader to set up a partnership with others or whether to form a company How you operate your business determines...