by admin | Jun 26, 2025 | Hints & Tips, Tax Compliance
Since 2016, landlords haven’t been able to deduct mortgage interest when calculating their taxable profits from property letting. Instead, landlords can claim a basic rate tax credit to reduce the tax payable. But what’s the difference? The basic rate of income tax is...
by admin | Jun 13, 2025 | Hints & Tips, Tax Compliance
Companies pay corporation tax on their profits, but there are at least 2 rates of corporation tax. It can be confusing to work out which rate to use. Main rate and small profits rate The main rate of corporation tax is 25%. Companies pay tax on their profits and...
by admin | Mar 14, 2025 | Government Budgets, Hints & Tips, Tax Compliance
The Government announced in the UK Budget that the tax treatment of so-called “double-cab” pickups will be changing from April. Previously, these vehicles were treated as vans for tax purposes, meaning that there were generally greater tax reliefs available on them....
by admin | Jul 10, 2023 | Hints & Tips, Tax Compliance
Financial statements and accounts can be confusing, and it’s easy to focus on profit above everything else. It’s important to consider what your financial statements are telling you, as these can prove valuable insights into running your business, and can help you to...
by admin | Jun 20, 2023 | Hints & Tips, Tax Compliance
National Insurance pays for certain state benefits and the State Pension. Almost everyone pays National Insurance on their earnings, but self-employed individuals need to make contributions too. What is National Insurance? National Insurance Contributions (NICs) are...
by admin | Jun 7, 2023 | Hints & Tips, Tax Compliance
When it comes to submitting your tax return, it sometimes seems easier to put it off until the last minute, but it pays to submit your self-assessment tax return as early as you can. Read on to find out why. As someone who is self-employed, a sole trader or a...
