If you’re thinking of putting a vehicle through a limited company there are several key tax considerations around company cars, benefit-in-kind (BIK) tax, allowable expenses, and VAT treatment. 1. Ownership:…
As a small business owner, staying on top of tax changes and compliance requirements is crucial to keeping your business running smoothly. With new updates coming into effect, now is…
Limited companies pay Corporation Tax on their profits. The rate has been 19% for many years but this changed on 1 April 2023. From this date, small businesses with profits…
What can I claim as self employed expenses 2023? Mobile Phone You can claim your Mobile Phone as a self employed expense - If you use your mobile phone for…
Capital Gains Tax Update for 2023 The capital gains allowance (that is the amount you can make before paying any tax) reduced to £6,000 on 6th April 2023. It was…
Change In Basis Period Reform While there is a delay to Making Tax Digital for income tax self assessment, unincorporated businesses will have to report their results on the tax…
FURNISHED HOLIDAY LETTING (FHL) In the UK, there are special tax rules and reliefs for properties that qualify as furnished holiday lets (FHL’s). This means that a FHL is more…