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New property tax rates
Unincorporated landlords pay income tax on the profits of their property rental business.
May 12
•
Asif Patel
Spreading tax payments if you can’t pay your tax bill
Should any taxpayer find they are struggling to pay their tax bills by the usual deadlines, there are official ways to spread the payments.
May 8
•
Asif Patel
The future for invoices and receipts
It is becoming increasingly noticeable that after a purchase is made in a shop or restaurant, the customer is asked ‘Do you want a receipt?’.
May 3
•
Asif Patel
April 2026
How can sole traders obtain relief for trading losses?
In difficult trading conditions, a sole trader may realise a loss rather than a profit.
Apr 30
•
Asif Patel
Are you running a business or enjoying a hobby?
Many digital platforms and online marketplaces in the UK, such as eBay, typically consider a seller to be a trader if they list items frequently or in…
Apr 27
•
Asif Patel
Should you withdraw your pension to save IHT?
Legislation has been published in draft for inclusion in the Finance Bill which will bring unused pension pots within the charge to inheritance tax from…
Apr 22
•
Asif Patel
What is e-invoicing?
The 2025 Budget on 26 November 2025 is expected to be crucial for the long-term implications for the UK economy – announcements of tax increases are…
Apr 19
•
Asif Patel
Disincorporation of a company
In the not-too-distant past, incorporation was synonymous with automatic tax savings.
Apr 15
•
Asif Patel
Are you exempt from MTD for ITSA?
Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) is mandatory from 6 April 2026 for self-employed traders and landlords whose combined…
Apr 12
•
Asif Patel
Can you claim tax relief for making good damage by tenants?
Unfortunately, tenants (and their pets) may cause damage to a rental property.
Apr 8
•
Asif Patel
Overdrawn directors’ loan accounts and section 455 tax
A director’s loan account is simply a means of keeping track of transactions between the director and the company of which they are a director.
Apr 4
•
Asif Patel
Keeping digital records for Making Tax Digital
Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA) will apply from 6 April 2026 to sole traders and unincorporated landlords with combined…
Apr 1
•
Asif Patel
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