Need a supportive Accountant?

Navigating Employment Status: Employed or Self-Employed in the UK?

In the dynamic landscape of work in the United Kingdom, understanding your employment status is crucial. The distinction between being employed and self-employed goes beyond mere semantics; it significantly influences the way you are taxed, your national insurance contributions, and the rights and benefits you are entitled to. In this blog post, we delve into […]

How to prevent paying taxes after death, inheritance tax?

inheritance tax

In the UK, when an individual that is domiciled in the UK dies, they are charged inheritance tax also known as a death tax. The death tax is applied at 40% on their estates from their worldwide income. In some cases, an individual could also pay inheritance tax on their estate whilst they are still […]

Claiming back VAT paid on goods and services before VAT registration?

VAT registration

Vat registration in the UK is important. Value-Added Tax (VAT) in the UK is a type of tax that is paid by individuals that buy taxable supplies. This means that for every time you pay for a transaction that is a taxable supply, you pay VAT on it. For example, if an individual visits a […]

Setting up a limited company in the UK, steps to be taken.

Setting up a limited company in the UK

Setting up a limited company in the UK,& things that you need to know. Starting something new can be a very daunting process for anyone. The reason why most people are nervous about having a limited company is because of all the compliance issues involved. Also, most people have heard about daunting stories of penalties […]

Setting up a business, when to inform the HMRC?

setting up a business

Setting up a business in the UK, When a new business is set up, the common question asked is when to inform HMRC of the new business. If you set up as a limited company, your details would be passed to HMRC  during registration. The issues discussed in this blog relate to those that want […]

MORE TIME FOR STAMP DUTY TAX REFUNDS

stamp duty

Stamp duty tax on land and properties is the tax that is paid on properties that cost over £125,000 in the UK. This simply means that when an individual buys their first property that costs less than £125,000, they do not have to pay stamp duty. The rate of stamp duty tax paid on the […]

7 FACTORS THAT COULD HELP TO CLASSIFY COMPLICATED EXPENDITURE

classifying expenditure,capital and revenue expenditure

Classifying expenditure appropriately could help save your business money by claiming the appropriate tax relief. This could also help to save you from being investigated by the revenue in the future and paying penalties. These mistakes are easily done, so this blog post will help to highlight seven things that could help you. When significant […]

Universal credit in the UK

Claiming universal credit

Universal Credit in the UK is the system that the HMRC uses in making payments to individuals who are going through hardship in the UK. That was why during this  hardship caused by COVID, a lot of individuals received support through the Universal Credit Claim universal credit. The covid has affected a lot of taxpayers’ […]

INCREASE IN EMPLOYMENT ALLOWANCE FROM 2020/21,

employment allowance

 Employment allowance has now been increased from £3,000 to £4,000. This is  Good news to some but not all businesses. These are some of the changes made by the newly appointed chancellor in the budget read a few days ago. This is good news for businesses that are eligible for employment allowance. THE BUSINESS THAT […]

7 THINGS YOU NEED TO KNOW NOW THAT YOU ARE UNDER 1R35 LEGISLATION

IR35 legislation,changes in the private sector from April 2020

NOW THAT YOU ARE CAUGHT UNDER IR35 LEGISLATION, WHAT NEXT? It is not news again that the IR35 legislation is changing from April 2020. If you would like to read about these changes you can click or watch a video kindly click In this blog post, I have explained 7 things that contractors that are […]