Posts by Kate
Making Tax Digital for Income Tax – How to Get MTD Ready
Making Tax Digital (MTD) adverts are all over the TV and radio – and MTD for VAT returns is already in place. But, are you aware of MTD for Income Tax, and how it will affect you? Perhaps you’re unsure because your business is new, or you’ve managed without an Accountant until now? We will…
Read More300,000+ Landlords Move to Limited Companies to Reduce Tax
Over 300,000 landlords have purchased properties in limited companies to reduce tax and tackle rising interest rates. This number has doubled since the introduction of Section 24 in 2017, and with the environment becoming more uncertain, more than 50,000 companies have been set up in the last year alone – with 2022 set to be…
Read MoreCan I Reduce Limited Company Tax with My Spouse?
Company owners can make big tax savings by transferring shares to their spouse or civil partner. The good news? There’s no Capital Gains Tax on gifts between married couples – however, careful planning is required for the diversion of income to be tax-effective. If you are a cohabiting couple, and not married or civil partnered,…
Read MoreClaiming Work from Home Expenses for the Self Employed
Are you a self-employed sole trader, or in partnership, and work from home? If so, you can claim work from home expenses through your Self-Assessment Tax Return. Continue reading to understand your available options, and how much you could claim. What Can the Self-Employed Claim? UK sole traders and partners have two options for claiming…
Read MoreWork from Home Expenses for Limited Company Directors
Working from home appeals to many, and the number of people doing so has grown significantly since the pandemic. As a company director, you need to decide if this works for you – read on to find out more about the expenses you can claim, as well as the tax implications. What Can My Limited…
Read MoreEmergency Mini-Budget 2022 – Key Highlights
This morning (Friday 23rd September), Chancellor Kwarteng unveiled his ambitious new “Growth Plan” to tackle inflation, support businesses, and help households. He’s aiming for a 2.5% trend of growth, and key highlights are: Corporation Tax remains at 19%, with the planned rise cancelled Basic rate Income Tax will be cut to 19% in April 2023…
Read More1 in 5 Landlords to Sell Buy-to-Let Property – Find Out How
Rising mortgages and falling property prices are set to push up to 20% of landlords into selling their buy-to-lets – especially smaller landlords with only one or two properties. The cost-of-living crisis is also making repairs and maintenance fees unaffordable, increasing insurance premiums, and casting doubt on whether tenants will be able to pay rent.…
Read MoreHave You Registered Your Trust with HMRC?
The 1st September 2022 deadline for Trust registration has been and gone – and only 61,700 of one million non-taxable UK trusts had registered in the first six months of 2022. Those who failed to register could face penalties of up to £5,000. These figures suggest that many trustees are still unaware of their obligations…
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