Blog

13 Jul 2021

I sell goods on Ebay . Do I need to register for IOSS (import one stop shop)?

If you are selling your goods online this means that you are attracting customers from EU and Northern Ireland. If your business is registered in Great Britain and you have your consignments going to the customers in the EU and the value of the goods do not exceed £135 have been given the option to opt for IOSS.

08 Jul 2021

I am a Locum Doctor. Can I work through a limited Company?

If you are a locum doctor and you are looking for some ways to save on the taxes that you pay to HMRC, you will have to look for your employment status.

02 Jul 2021

4 ways You can Reduce your Capital Gains Tax Bill When Selling Shares

When you make a profit on the sale of an asset (although there are few exemptions), you will have to pay tax on it. HMRC emphasises that you need to pay tax on the profits and not on the proceeds of the sale.

18 Jun 2021

Running my side business as a Sole trader or a Limited Company? Which one will be more tax efficient?

There is no one answer to this question. Either of the business structures can be tax efficient; it just depends on your individual tax position.

10 Jun 2021

Online Tutor - What expenses can I claim and what taxes do I pay?

If you are thinking of starting online tutoring you should be well aware of the taxes that the taxman expects you to pay. HMRC expects you to pay taxes if you are earning money above a certain threshold. These thresholds are different for different structures in which the businesses are run.

04 Jun 2021

I own a property - how can I reduce my Inheritance tax bill?

If you own a house, it is part of your estate for inheritance tax purposes and inheritance tax should be paid on it when you die at 40% however there are ways that can help reduce the tax bill.

26 May 2021

I have crypto currency. Will I be paying taxes on it?

How you will be taxed on the cryptocurrency will depend on the nature and use of the crypto asset or the crypto currency as we normally call it.

07 May 2021

Tax due in July as a sole trader - payment on account

If you are self-employed running your own business as a sole trader you will have to pay your income tax through a self assessment tax return. For your trading income that will fall in the tax year running from April 2020 to April 2021, the taxes on that income will be due in full on 31 Jan 2022. This means you are not paying at source.

30 Apr 2021

Stamp Duty Land Tax (SDLT) surcharge and the non-resident UK property buyers

If you are a non resident interested in buying a residential property in the UK you should be aware that from 1 April 2021 different rates of SDLT will apply to you.

23 Apr 2021

Social Influencer- How are paid posts, endorsements and other freebies taxed in the UK?

With the increase in the use of social media there is an increase in the form of marketing known as ‘ influencer marketing’ It is a growing industry and according to business insiders it is on track to be worth up to 15 billion dollars by 2022.

19 Apr 2021

The Company is offering me car benefits - will I be able to pause if the circumstances change such as covid-19?

The combination of salary and benefits in kind (BIK) often referred to as “perks” is what makes an attractive salary package these days. As mentioned in one of our previous blogs, some of these benefits in kinds are taxable and some are non-taxable.

09 Apr 2021

Online Selling - What is my Corporate Social Responsibility?

When we are setting up our business, we often go through our checklist of legal responsibilities such as registering our company with the company’s house, registering with HMRC for taxes such as corporate taxes etc.

Please see the Taxaccolega Chartered Accountants blog archive.