Making Tax Digital for Income Tax (MTD (IT)
Making Tax Digital for Income Tax (MTD IT) is a major change in the way self-employed individuals and landlords in the UK manage and report their taxes. It’s part of the government’s initiative [...]
Benefits of completing your tax return early
The deadline to complete your 2024/25 tax return is 31 January 2026 (31 October 2025 if you need to file a paper return). There are many advantages to getting your tax return completed early: 1. [...]
Can I claim capital allowances?
Capital allowances are a way of obtaining tax relief on some types of capital expenditure. What is capital expenditure? Expenses you incur in your business can either be capital or revenue [...]
Are you entitled to Tax Free Childcare?
Tax free childcare is a HMRC scheme that offers working families in the UK support toward childcare costs. What is it? HMRC will top up every payment of 80p with an extra 20p up to the equivalent [...]
I claim child benefit. Should I complete a tax return?
The High Income Child Benefit Charge (HICBC) was introduced in January 2013. It relates to the clawback of child benefit for those with income in excess of £50,000 per year. Who does it apply to? [...]
In Budget, Capital Gains Tax, Employment tax, General, Individuals, Owner managed businesses, Pensions, Property, Start up, Tax planning
Posted Budget 2018 – How will you and your business be affected?
On 29 October 2018 the Chancellor presented the Autumn 2018 budget. Businesses Annual Investment Allowance (AIA) The Annual Investment Allowance (AIA) provides 100% tax relief on certain capital [...]
