Furnished Holiday Let Tax: What do you need to know?
Dec 07, 2022
A furnished holiday let (FHL) is a particular type of rental property classification in the UK. If your property qualifies as an FHL, it is classed as a ‘trade’ by HM Revenue & Customs (HMRC), meaning you are entitled to various tax ...
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The Christmas gift allowance: how it works
Dec 01, 2022
Are you planning on treating your staff or clients this Christmas? Christmas gifts can be subject to tax, so it is important to understand these tax rules this festive season. Do gifts count as taxable income? Christmas presents paid in cash to ...
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How small businesses can navigate the festive period
Nov 29, 2022
For most small businesses, Christmas is the busiest time of the year, having a large impact on yearly revenue. In fact, companies expect to make two-thirds of their annual profits over the festive period, despite current economic uncertainty. According to a recent ...
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Why debt isn’t always bad
Nov 25, 2022
Taking on debt may make you feel worried, but while debts are often viewed negatively, they can actually have many benefits for the future of your business. Debt can help manage cash flow and can also help you achieve your long-term ...
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Landlords targeted over undeclared income from residential property
Nov 22, 2022
Landlords are being targeted by HM Revenue & Customs (HMRC) over what appears to be undeclared rental income or income related to residential property. HMRC’s Wealthy External Forum sent 606 letters to landlords who have submitted deposits into a tenancy deposit scheme, questioning ...
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Why you should revise your business strategy
Nov 18, 2022
With current economic difficulties, it is crucial to ensure that you have a detailed business plan. As inflation rises, you should consider how to modify your business. What is a business strategy? A business strategy is a plan for your company ...
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Autumn Statement 2022
Nov 17, 2022
The message from the Chancellor, Jeremy Hunt, in the days before he rose to the despatch box in the House of Commons to deliver the Autumn Statement was clear; he would be outlining billions of pounds of tax rises and ...
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Are you missing out on tax-free corporate investment allowances?
Nov 15, 2022
When it comes to running a business, you must keep up with the ever-changing industry you are a part of. It is important to be aware of any allowances you are missing out on, so that your company can reap the ...
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Simplifying filing obligations
Nov 11, 2022
Are you aware of the changes to filing accounts at Companies House? If not, there are penalties for mistakes, so it is important to ensure that you are up to date with the latest information on these changes. What is changing? Under ...
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Capital Gains Tax: What do you need to know?
Nov 08, 2022
Capital Gains Tax (CGT) is a tax applied on the profit you receive when disposing of an asset. You are not taxed on the amount of money you receive, but on the gain you make. For example, if you bought something for ...
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