Rachel explains the changes to the way sole trade profits or partnership profit shares are allocated to tax years effective from the current 2023/24 tax year.
Rachel explains the changes made to the cash basis which have been outlined by the Chancellor.
Rachel explains the changes to Making Tax Digital for Income Tax Self Assessment which have been announced today.
If you are claiming child benefit, it is important to be aware of this threshold which hasn’t changed with inflation as more parents are likely to get caught out by it.
Rachel explains the exemptions around having an annual event for staff whether it’s a summer barbeque or the Christmas party.
Rachel reminds working parents that the Tax-Free Childcare account can include paying for a summer holiday club.
Rachel explains HMRC is targeting those in the short-term rental market so if you think you may have underdeclared your property income, now is the time to act.
Rachel Roberts provides a summary of the Budget announcements concerning the labour market including childcare reforms and pension reforms.
CGT in respect of gains on residential property must be reported and paid to HMRC within 60 days from completion – Rachel highlights a couple of issues to be aware of.
MTD was due to be phased in from April 2024, however, HMRC have announced some changes which are explained by Rachel.
Rachel provides detail about the changes to tax on electric vehicles concerning two main areas; road tax and benefit in kind.
According to The Telegraph, HMRC civil servants were put under pressure to bring in as much money as possible, resulting in 90,000 penalties being issued in the 2021/22 tax year.
The accounting software will need to record and report income and expenditure in the same categories currently used for self-assessment as outlined by Rachel.
Rachel explains how mortgage lenders are now offering green buy-to-let deals to encourage landlords to invest in energy-efficient properties.
Rachel details a proposed new scheme aimed at reducing rental fraud, in which letting agents and property websites would collect and report tax on behalf of landlords.
Rachel explains the tax consequences of choosing a second hand electric car for your business.
Providing benefits can often come with unexpected or unwelcome tax charges, so Rachel explains different options and their impact.
Rachel explains what you need to know about the new rules if you are a Non-UK Resident Landlord