Upcoming changes to the special tax rules for Furnished Holiday Lettings are set to shake things up from April 2025. Announced in the March 2024, these changes essentially remove the tax benefits that holiday lets gain over other types of rental property businesses. Here’s a rundown of what’s happening and how it might affect you. […]
Running a business comes with many challenges, but one of the most important is managing your finances effectively. Being on top of your financial situation isn’t just about avoiding debt — it’s about giving your business the opportunity to thrive. We have 10 top tips to help you stay in control of your finances and […]
31 January is the annual self-assessment deadline, and it can be a stressful time of year for many. Here’s our guide on how to submit your tax return and reduce the anxiety. Who Needs to Submit a Tax Return? Typical people who usually have to carry out self-assessment include: The self-employed People with more […]
Since the autumn 2024 Budget announcement on 30th October, concerns have been raised by the businesses and individuals who are affected by some of the key measures. The biggest changes affecting small businesses are those to the employer National Insurance rate, the secondary threshold and the National Living and Minimum Wage. Read on to see […]
On Wednesday October 30 the Chancellor Rachel Reeves presented the Autumn budget 2024 – Labour’s first in 14 years. She confirmed her priorities as putting ‘more pounds in people’s pockets’, improve living standards and restore economic stability. Overall, the budget measures will raise an additional £40 billion in tax. Below, we explore key elements from […]
Last year, HMRC received more than 130,000 reports of scams and phishing attempts. With fraudsters becoming ever more sophisticated in their attempts to fool us, it’s important to know what to look out for. We round up the latest advice and examples of phishing and fraud. Text or WhatsApp messages The number of fraudulent […]
If you’re setting up a business, the structure you choose can make an important difference. It can influence the amount of tax you pay, how you pay it and how the business operates. Each type has its pros and cons, and the best way to set up your new venture will depend on your circumstances. […]
We’re often asked for advice on whether or not to buy an investment property via a limited company. The answer, as always, is that it depends on the circumstances. There are pros and cons to either approach, as we explain in this month’s blog. The options You can either buy property personally or through […]
Not all tax breaks disappear at the end of the tax year, which can help save you money. We explore those that do, and those that don’t. Tax allowances that you can carry forward Your pension allowance You can pay 100% of your annual income into your pension up to a maximum of […]
For businesses with profits over £50,000, corporation tax rose on 1 April 2023. If you’re looking to find ways to reduce your tax liabilities this year, here are some helpful options to consider. How much corporation tax do you have to pay? If you own a limited company, you’ll need to pay corporation tax on […]