If you sell or dispose of a residential property in the UK, you may be liable to pay Capital Gains Tax (CGT) on the profits you make. CGT is only charged on the gain made, not on how much you sell the property for, so it is important to understand what reliefs are...
The fundamentals of setting up a business. A side hustle is a piece of work or a job that an individual can get paid for in addition to their main job. From driving for a ride sharing company to tutoring online, copywriting and more, a side hustle could be any...
What to expect from April 2023. A number of changes are coming to income tax in April 2023 that will affect taxpayers across the UK. Many of these measures were announced by Chancellor of the Exchequer Jeremy Hunt in his Autumn Statement on 17 November 2022. According...
It has been officially reported that Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA) has been postponed until April 2026. MTD for ITSA was set to become mandatory from April 2024 where sole traders or landlords with a gross income of £10,000 or more...
With the new year just around the corner and tax season fast approaching, now’s a good time to get a head start on your Self-Assessment Tax Return. Self-assessment is a system HMRC uses to collect tax on income that wasn’t taxed at source. People who are...
With the rising costs of living affecting every aspect of almost everyone’s finances, there’s no time like the present to start considering your retirement plans. Unfortunately, the Government has significantly increased the state pension age over a number of years....
