For most UK citizens, the question of what income and gains should be included on their tax return is easily answered because they are both UK domiciled and UK tax resident. Anyone domiciled and resident in the UK will need [...]
If your unincorporated business was adversely affected by the pandemic and had annual trading profits of £50,000 or less, you would’ve been eligible to obtain the first three taxable grants via the SEISS in 2020/21. These need to be included [...]
Sole traders and partnerships could be about to see significant changes to the ways in which they are taxed. The Government plans to reform the basis period rules in a bid to simplify how unincorporated businesses allocate trading profits to [...]
If you’re self-employed, your business will rack up various running costs throughout 2021/22. Some of those you’re able to deduct as allowable expenses. By deducting these allowable expenses as part of calculating your business’s taxable profits, it’s possible for us [...]
If there's one thing to take away from the Spring Budget 2021, it's taking charge of your personal finances. This is going to be increasingly important over the next five years. So, what's changing for the new tax year? Not [...]
It's not often that HMRC makes exceptions to its tax deadlines or late-filing penalties, but the past year has, as in so many ways, been different. Between optional deadline deferrals, new payment schemes and temporary reliefs, keeping on top of [...]
If you are considering moving home in the second half of 2020/21, you are by no means alone. In the month leading up to 8 August 2020, 149,000 properties were put on the market – the highest number since before [...]
With everything that's happened so far this year, it might be easy to forget your obligations to file a tax return for 2019/20 by midnight on 31 January 2021. There's good reason to get your information to us as soon [...]
Since the launch of Bitcoin in 2009, cryptocurrencies have grown steadily into the public consciousness, and HMRC's too. In 2014, HMRC issued basic guidance before replacing it with comprehensive guidance more recently, that helps us better understand their stance. While [...]
There's only two months left until the 31 January deadline for online self-assessment tax returns. At some date in the next few years, but no earlier than 2021, digital returns for income and corporation tax will become mandatory for some [...]
