When it comes to completing your Self Assessment tax return, understanding your pension contributions is key. Getting this right you claim all the tax relief you’re entitled to while avoiding mistakes. Start by identifying the type of pension you contribute to: Workplace pension – Contributions made by you and/or your employer. These are often the […]
UK contractors can significantly reduce tax liability and reinvest in future growth by taking advantage of R&D (Research & Development) tax credits. Yet many construction and contracting firms still miss out often because they are unsure which projects qualify or how to prepare a strong claim. R&D tax credits are there to encourage innovation. Suppose
Zero-rated VAT on new homes and flats means no VAT is charged on the construction of a new residential property. Unlike standard VAT (20%) or reduced VAT (5%), zero-rated VAT keeps costs lower for buyers while still allowing builders and developers to reclaim VAT on construction expenses, making new homes more affordable. However, not all
Buying property in the UK doesn’t just mean paying the purchase price, Stamp Duty Land Tax (SDLT) is one of the biggest extra costs. The good news is that traders and investors can reduce this expense. This article explains what a stamp duty relief claim is, how it applies to probate property purchases, and how
VAT is an essential consideration for UK contractors. Most projects are charged at 20%, but certain construction and renovation work can qualify for the reduced 5% rate. Knowing when to apply the correct rate is important for two reasons: Legal compliance – charging the wrong rate can lead to HMRC penalties or costly corrections later.
A sole trader runs a business personally, with profits treated as personal income and full liability for debts. A limited company operates as a distinct legal entity, separate from its owners, paying corporation tax, with shareholders enjoying limited liability and income through salary or dividends. Switching to a limited company can offer tax benefits, asset
From November 2025, UK company directors and Persons with Significant Control (PSCs) will be required to verify their identities with Companies House. Directors can verify their identity themselves or use an Authorised Corporate Service Provider (ACSP), also known as a Companies House authorised agent to handle the process for them. In this article, we’ll explain
Transferring shares in the UK can be straightforward. After completing a stock transfer form and having it stamped by HMRC, you can update shareholder details using the Companies House online service. But it’s crucial to ensure that all necessary legal paperwork is completed and to check if any stamp duty is owed on the transfer.
