by admin | Nov 20, 2025 | Uncategorized
If you earn fees or sell goods as a side hustle, you may need to pay tax on your profits. HMRC has launched a new press release encouraging Christmas crafters and anyone with a fee earning hobby to check their tax reporting obligations as part of its Help for...
by admin | Nov 20, 2025 | Uncategorized
Making Tax Digital for Income Tax (MTD for IT) will become mandatory in phases from April 2026. If you are self-employed or a landlord and have over £50,000 in qualifying income you need to start preparing to submit quarterly updates, keeping digital records and cope...
by admin | Nov 20, 2025 | Uncategorized
While there are many state benefits available, it is not always clear which of these are taxable and which are tax-free. HMRC’s guidance outlines the following list of the most common state benefits which are taxable, subject to the usual limits: Bereavement...
by admin | Nov 20, 2025 | Uncategorized
A demerger involves splitting the trading activities of a single company or group into two or more independent entities. This can be facilitated by distributing the assets of a holding company to its shareholders. There are special statutory demerger provisions...
by admin | Nov 20, 2025 | Uncategorized
If you use your own money to buy items for work, you may be eligible to claim tax relief as long as the items are essential for your job and are used solely for work purposes. Flat rate expenses (also known as a flat rate deduction) allows you to claim tax relief for...
