Giving Away Money Free of IHT
Most people do not want to give money to the taxman when they die. However, while it is said that inheritance tax (IHT) is a
Accounting, Tax & Business Blogs
Explore expert accounting, tax, bookkeeping, and business advice from across the UK. Get practical tips, financial insights, and the latest updates to help you manage your finances and grow your business.
What is Self-Employed Teacher Tax?
If you are a resident of the UK and working as a self-employed teacher, it is imperative for you to understand the self-employed teacher’s tax
Beware the New VAT Late Submission Penalties
A new penalty regime was introduced for VAT from 1 January 2023. The new regime comprises late submission penalties and late payment penalties. Here we
Have You Declared Your Dividends Correctly?
Dividends are a popular and tax-efficient way to extract profits from a personal or family company once a small salary has been paid. However, the
Utilise The Deduction For Paid and Reimbursed Expenses
Employees often need to incur expenses when undertaking their jobs. The nature of the expense may vary depending on the job, but typical expenses include
What are the Main Types of Taxes in the UK?
The UK tax system can be quite confusing and often requires a clear understanding. No matter whether you are a freelancer, have a business, or
Is the Teacher Tax Rebate Genuine?
It happens all the time that when you are working in the capacity of a teacher in the UK, most of you will end up
Tax Consequences of Dissolving a Partnership
The difficulty in dealing with partnership taxation is that there are no separate rules and those present are not located in one place. What rules
How Much Tax Relief Do I Get on Charitable Donations?
The charitable causes are supported by several cases and people are inclined to make such donations to charitable organisations in the UK. Some people like
The Taxation of Cryptocurrency
Cryptocurrency is a complicated concept and the following text gives HMRC’s view on the basic rules. Modern cryptocurrencies were first described in 1998 but the
How to Become a UK Tax Resident?
In the common case when an individual is in the UK for a period of 183 days and maybe more than this within the limit
Enquiry or Discovery – What is the Difference?
Most taxpayers know that they must adhere to a rigid timetable for the submission of tax returns and claims, otherwise either penalties are levied or
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