Owning a rental property with another person can be a rewarding investment strategy that generates consistent income. Whether the arrangement is with a spouse, family […]
How to Turn Your Hobby into a Profitable Small Business
Many people spend their free time doing something they genuinely love. Whether it’s baking artisan bread, making handmade candles, creating custom artwork, sewing clothes, restoring […]
British Expats and UK Taxes: When You Must File a Self Assessment Return
Relocating abroad can offer many lifestyle and financial benefits, but for British citizens, UK tax responsibilities may still apply. Even after establishing residence in another […]
Tax-Free Rental Income: A Beginner’s Guide to the Rent a Room Scheme
In recent years, renting out a room in your main residence has become an increasingly common way to generate extra income. With property prices rising […]
Avoiding Tax Fines: Steps to Take After Missing the Self Assessment Deadline
Missing the Self Assessment tax deadline is not uncommon. Every year, thousands of individuals, especially those filing for the first time or with fluctuating income, […]
Most Common Self Assessment Tax Filing Errors UK Taxpayers Make
Every year, millions of individuals in the UK are required to submit a Self Assessment tax return. This process applies to self-employed professionals, landlords, those […]
Claiming the Fifth SEISS Grant: How to Work Out Your Turnover Correctly
The Self-Employment Income Support Scheme played a vital role in helping self-employed individuals cope with the disruption caused by the COVID-19 pandemic. With the economic […]
How Uber Drivers in the UK Can Handle Taxes and Maximise Deductions
Navigating taxes as an Uber driver in the UK can feel overwhelming, especially if you’re new to self-employment. With proper guidance and digital tools, you […]
What Are the Penalties for Not Filing a Self Assessment Tax Return?
Each year, HMRC sets a strict deadline for online Self Assessment tax return submissions. That deadline is midnight on 31 January. The purpose is to […]
Self Assessment and Tax Advice for Accidental Landlords in the UK
In the UK, the role of a private landlord has evolved considerably. While some individuals intentionally enter the property rental market, a growing number become […]
Do You Live Abroad? Here’s What You Must Know About Paying UK Tax
More than 5.5 million British nationals are estimated to live permanently overseas. Among the most popular destinations are Australia with approximately 1.2 million UK citizens, […]
Top 20 Tax and Accounting Terms Every Sole Trader Needs to Know
You may be confident in your skillset or profession, but when it comes to the financial side of your business, tax and accounting terminology can […]
Paying UK Tax on Rental Property as an Expat: Complete Self Assessment Guide
When you decide to move abroad, it’s important to understand how this affects your tax status in the UK. Even if you no longer reside […]
How to Claim Business Travel Expenses on Your Self Assessment Tax Return
While digital communication tools have made remote meetings more accessible than ever, many businesses still rely on in-person interactions to build strong relationships and close […]
Do Students Have to Pay Tax on Part-Time or Freelance Work?
Balancing education with finances has never been easy for students, especially in recent years where the cost of living continues to rise. With tuition fees, […]