UK Tax

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Health and Social Care Tax Change UK by Prime Minister Boris Johnson

While the pandemic-induced recession is greater than we thought it would be, precautions and safety precautions must also be taken. The COVID-19 pandemic has impacted the UK economy in many ways. From lockdown restrictions, and most of it is the declaration of bankruptcy of many businesses as they officially close down their operations because they …

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Should I Put my Rental Property Into A Limited Company?

The pandemic has changed a lot of people’s lives in a short amount of time. Having everything upended for so many people has made it one of the worst years in history. It has affected the way we live our lives, and the ramifications will be more visible as the years pass. Furthermore, it has …

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Can a Limited Company Buy a House in UK?

Here in the UK, we have our fair share of limited companies doing business with the government and the people. It is often the safest way to do transactions as the assets and debts of the shareholder are different from those of the owner’s. However, there are some limitations regarding property ownership and residential rights.  …

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5 Things You Should Do If You Miss the Personal Tax Deadline

Missed the personal tax deadline? There will be some consequences, but all is not lost. The most important thing is to move quickly. Further delay usually means heavier penalties. Here are five concrete steps you can take if you miss the personal tax deadline to get back on track.  What Should You Do If You …

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a blog featured image with a topic title Taxes and Duties for Imported Goods in the UK

Taxes and Duties for Imported Goods in the UK

Have you ever purchased something and had it shipped to you from overseas? Imported goods allow us access to products that are made in other countries. To bring them in, however, you need to pay certain duties and taxes to UK customs. If you are buying from abroad, here is a breakdown of what fees …

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If I Have a Non-VAT Registered Business, Does Making Tax Digital Affect Me?

Making Tax Digital (MTD) is an innovation introduced by HMRC to make tax filing and payment more manageable. It requires that accounting software be used in completing tax returns and that records are kept electronically. Currently, Making Tax Digital is compulsory in VAT-registered businesses with a taxable turnover of £85,000. But does this mean that …

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UK Spring Budget 2021 by Chancellor Rishi Sunak

Springtime is just around the corner, and we all know what that means – budgets! UK Spring Budget 2021 and grants extension. Oh, were you expecting something else? Kidding aside, let us get down to business. This previous week, Chancellor Rishi Sunak has announced a few updates that will undoubtedly impact SMEs or Small to Medium Enterprises, …

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What Happens if I Don’t Pay My Personal Tax

There are many reasons you might not be able to pay your taxes by the appointed deadline. Whether it may be a financial problem or some unforeseeable circumstance, not paying taxes can lead to more expensive problems down the road. So what do you do if you can’t meet the deadline for personal tax payment? …

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