Making money from YouTube, TikTok, Instagram, or freelance projects counts as self employment in the eyes of HMRC. Even if it’s only a side hustle, you’re responsible for keeping track of your earnings and paying the right taxes. Filing taxes properly helps you avoid fines, stay organised, and understand how much you really earn after […]
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
How to Report Your Pension Contributions in a Self Assessment Tax Return Read More »
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
8 Expert Tips to Boost Tax Savings for UK Contractors with R&D Tax Credits Read More »
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
How to Qualify for Zero-Rated VAT on New Homes and Flats Read More »
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
How Traders Can Save Big with Stamp Duty Relief on Probate Purchases Read More »
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.
When Contractors Should Charge 20% VAT vs the 5% Reduced Rate Read More »
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
How to Switch from Sole Trader to Limited Company as a Landlord Read More »
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
