VAT is often seen by many business owners as an additional cost to the business, but this is not always true. In general, VAT-registered businesses collect VAT on taxable supplies made to customers, pay the amount collected to HMRC after deducting eligible input tax,...
For many individuals and business owners, the possibility of an HMRC investigation is a major cause of anxiety. People are concerned about the chances of being investigated by HMRC and how likely they can face a tax enquiry if they have done nothing wrong. It is...
Nearly 3.2 million people in the UK are registered as sole traders (GOV.UK), and millions more describe themselves as self‑employed. Yet many people are still confused by the difference between the two terms. One is a legal structure. The other is a working status....
Dubai continues to attract UK entrepreneurs thanks to its strategic location, world-class infrastructure and competitive tax environment. While the UAE has introduced corporate tax in recent years, it remains one of the most business-friendly jurisdictions globally....
Construction is one of those industries where a firm can be showing profit on paper but be short of cash. Raw materials and labour costs can be required to be borne weeks in advance of the certification of payment applications. Moreover, even once the payments have...
VAT is one of the most misunderstood areas of tax for hospitality businesses. Whether you run a small coffee shop, a busy restaurant or a takeaway, you must know how VAT on food and drink works for staying compliant and protecting your profits. The core VAT rules for...
It is very important for anyone investing in property, whether a landlord or running a business, to understand what the implications of stamp duty will be when purchasing property via a limited company structure. Although there can be tax benefits with a limited...
Becoming a landlord can be a smart way to build long-term wealth, but there is one thing that catches many property owners off guard i.e rental income tax in the UK. HMRC demands its share of the profit you earned. That’s why it is necessary to understand tax on...
When purchasing a second home for either investment, rental, or personal use, it is usually a sound financial investment. When you sell a second home for a capital gain, there is a very high probability that you will have a capital gains tax on the profit you made...