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Has a pay rise quietly increased your tax bill?

Has a pay rise quietly increased your tax bill?

Many employees and business owners have welcomed higher earnings over the past few years. However, for a growing number of taxpayers, a larger salary does not necessarily mean significantly more money in their pocket. The reason is a process known as fiscal drag....
Could new VAT rules change how you sell online?

Could new VAT rules change how you sell online?

The Government has launched a consultation on proposals that could significantly change the way VAT is collected on goods sold through online marketplaces. Although the changes are not yet law, they could affect thousands of UK businesses that use online platforms to...
Could your business recover more VAT?

Could your business recover more VAT?

If your business is VAT registered, you can usually reclaim VAT on many of the goods and services you buy for business purposes. However, many businesses fail to claim everything to which they are entitled  and may be able to recover more VAT. You can normally...
When does a hobby become a taxable business?

When does a hobby become a taxable business?

Not every hobby becomes a taxable business, but it is important to be aware when this can happen. This can apply even if you are making some money from your hobby. HMRC looks at a range of factors to decide whether an activity is a genuine trade, including whether...