News & Press

The following article will shed some light on how property income is assessed in the UK and the various reliefs/deductions that you are entitled to as a landlord. In the UK, the method of assessment on any rental income received is on an...

Generally, if you are a UK resident, you have two methods of assessment that can apply when it comes to your foreign income. The first would be to be assessed on the arising basis which means you are assessed in the UK on your worldwide...

No one likes the idea of dealing with a HMRC inspection or investigation. Whilst HMRC use the more ‘customer friendly’ term “check”, it comes down to the same process. HMRC want to review and check all or parts of your tax records to ensure...

Now that May 31st 2016 has come and gone, if you are an employee of a company, your employer would (and most definitely) should have given you a piece of paper which detailed exactly how much you were paid in the last financial year (if not,...

The UK tax system can be complex and there are many pitfalls, particularly for individuals who don’t take regular advice or perhaps prepare their own return. Often individuals make mistakes without intending or realising they have done so....

Over the last few years, tax issues in this area have become more and more complex. It is now more important than ever to have a basic understanding about your tax status and how it affects your position. What is a Personal Service Company? A...

Each of which will help reduce your overall capital gains tax liability. One of the reliefs that business owners can claim for is Entrepreneurs' Relief. This relief is given on the qualifying profits of a business disposal as long as you...

June 8th 2017 has now come and gone and we are all now recovering in the aftermath of the latest general election. During the build up to this election, there were a large number of policies from all parties that attracted attention, but...

Capital Gains Tax (often abbreviated to CGT) is payable on the disposal of any chargeable asset which gives rise to a chargeable gain. This is broadly calculated by taking your disposal proceeds and subtracting from this the acquisition price...

When you become an employee, depending on the salary that you earn, your employer will be able to calculate and deduct the correct amount of PAYE and National Insurance Contributions that you are due to pay to HM Revenue and Customs (HMRC)....

Tax Credits are payments from the UK Government. In the UK, there may be certain circumstances which mean that you are entitled to tax credits. There are two fundamental tax credits in the UK with the basics about tax credits being outlined...

Over the years there have been a number of tax amnesties, encouraging taxpayers to come forward to correct their tax affairs, declare their income and pay any tax due. These amnesties have come alongside greater information sharing between EU...