Would you like to reduce tax on your rental income?
Earning rental income is one of the common ways that taxpayers in the UK make additional income. However, this income from rental properties is a taxable income in the UK. The tax rate applies varies, it could either be 20%,40%, or 45%. The reason for the application of different tax rates is because when computing […]
The effect of increase in national insurance rate on employees in the UK
Have you heard about the news on increase in national insurance deduction from April 2022 and worried how this would affect your net pay? In this blog, we would like to explain how and why national insurance is deducted in the UK and the effect of these changes that have been made, and how they […]
Claiming back VAT paid on goods and services before VAT registration?
Vat registration in the UK is not usually a legal requirement for new business start up. Business owners are required by law to register their business for VAT when they sell taxable supplies and their turnover goes over the Threshold of £83,000. They could also be required to register for VAT if they expect their […]
Are you an overseas seller and sell goods less than £135 in value to UK customers?
Changes to VAT administration for items less than £135 in value Vat registered businesses in the UK that trade within the overseas sellers are having changes in the way they account for VAT January 2021. The main issue with the revenue is that they would like VAT to be treated the same way for all […]