14 Apr 2024 | Uncategorized
If you’re a foreign national or living outside the UK but own property there in your personal name, you can access the UK personal tax allowance, which can significantly impact your financial planning. For the tax year 2024-25, this provision exempts the first...
20 Mar 2024 | Uncategorized
An associated company is a term used to describe the relationship between two or more companies that are interconnected in a manner that allows one to influence or exert control over the other. Here’s a breakdown of the key aspects: Definition: When the same...
20 Dec 2023 | Uncategorized
If the property has ever served as your sole or primary place of residence, you may be eligible for private residence relief. This rule applies to married couples, civil partners, and unmarried individuals, as they can only designate one property as their principal...
8 Nov 2023 | Uncategorized
If you are employed and have a total taxable income of more than £100,000 you must send a tax return to HMRC. The tax return will be for the tax year which runs from the 6th of April to the following 5th of April. From 6th April 2024 however, the threshold at which...
25 Oct 2023 | Uncategorized
With the Self-Assessment deadline of 31 January quickly approaching it is an opportune time to remind ourselves of the time limits for HMRC enquiries. The time limits that enable HMRC to open an enquiry into a return are set out in legislation: Section 9A Taxes...
18 Oct 2023 | Uncategorized
You have made a donation to a registered charity and it’s now time to do your tax return and claim any available tax relief. Claiming the tax relief against your income Making a charitable donation that has been gift-aided will extend your basic rate tax band by the...
