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Is your trade in goods or services a business

Is your trade in goods or services a business

by | Jan 9, 2025 | Income Tax

Selling goods or services? It’s vital to know if HMRC considers this a business. From regular sales to earning commissions, their rules on ‘trading’ impact your tax obligations. Here’s a simple guide to help you stay compliant and avoid...
Future increases in CGT on sale of a business

Future increases in CGT on sale of a business

by | Jan 9, 2025 | Capital Gains Tax

Planning to sell your business or shares? Capital Gains Tax rates for Business Asset Disposal Relief (BADR) are set to rise from 10% to 14% on 6 April 2025, and to 18% from 6 April 2026. Selling before these dates could result in significant tax savings. Business...
What expenses can be claimed against rental income

What expenses can be claimed against rental income

by | Jan 9, 2025 | Income Tax

Are you a landlord? Maximise your rental income by knowing which expenses you can claim to reduce your tax bill. From maintenance costs to Replacement of Domestic Item Relief, understanding allowable deductions is key to smart property management. If you are a...
Finding your National Insurance number

Finding your National Insurance number

by | Jan 9, 2025 | National Insurance

Misplaced your National Insurance number? Do not worry! From checking payslips to using the HMRC app, there are many ways to recover it. If all else fails, you can request it via post. Here is everything you need to know to locate or apply for your NI number....