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Category: Landlord

with you on the journey to a brighter future

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Making Tax Digital to be Extended from April 2022

Making Tax Digital to be extended from April 2022 A couple of days ago there was an announcement that was hidden away from most taxpayers but the implications of which will have a major effect on many. After delay after delay caused by Brexit and now Coronavirus the government have now announced they will be…
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Why you should get the Accounts done early

Why you should get the Accounts done early If you are self employed you will know that your Self-Assessment tax and NIC payments on account are based on profits earned in the previous tax year and balancing payments due are not payable until the 31 January following the tax year end date. From a cash…
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Buy-To-Let – You must keep the records

Buying a property to let – the importance of keeping records from day one For tax purposes, good record keeping is essential. Without complete and accurate records, it will not be possible to provide correct details of taxable income or to benefit from allowable deductions. Aside from the risk of paying more tax than is…
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Selling a 2nd property ? – Tax changes are coming

Changes to Capital Gains Tax – 2nd property and asset sales The current delay between making a capital gain on property and paying the Capital Gains Tax (CGT) due can be as much as 22 months. For example, the CGT arising from a gain made by a UK resident individual on 6 April 2019 will…
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Working from Home ?

Working from Home If you are self employed then you already know what a necessary pain it is to keep a record of all your expenses. If you spend any of your time working from home, and who doesn’t, even if it is to maintain your records, then you would probably expect to be able…
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HMRC have you in their sights !

HMRC have you in their sights ! “CONNECT”….is the sophisticated HMRC computer uses information gleaned from other sources and algorithms to determine the likely accuracy of a taxpayers Tax Return. HMRC tax investigations are on the increase. Tax investigations are time consuming, stressful and costly. They can last for many months and during this time…
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