Blog

15 Jan 2021

Setting up an online store

The e commerce market is currently experiencing a boom all over the world. UK`s e commerce market is one of the biggest markets in Europe and it is still growing.

05 Jan 2021

Trading loss - should I de register as being self-employed?

In the past year the performance of many businesses has gone down the graph. Many high street retailers were forced to close their business as they were not making enough profits.

14 Dec 2020

Do I have to pay taxes in the first year of my business as a sole trader?

You just started your business in 2020, how and when will you have to start paying your taxes?

07 Dec 2020

Selling Online - Do I need an Accountant?

Whether you are a small business or a large enterprise selling your products online, you need to make sure that you keep your books neat, tidy and up to date. You have to keep in mind that doing a business and having an income means you have to pay taxes within the deadlines.

27 Nov 2020

Profits and Losses from UK Rental - How to calculate and Report them?

If you have rented a property in the UK, you should declare it to HMRC and pay tax on your profits.

20 Nov 2020

How will VAT change after Brexit?

As the transition period of Brexit is coming to an end in Jan 2021, it`s time that businesses who are dealing with EU countries should start to look at the changes that will follow and get their businesses ready for the change.

12 Nov 2020

I have income from abroad do i report it to HMRC?

In the time of pandemic as the economic uncertainty continues the last thing anyone can think of is giving away money to HMRC in the form of penalty.

03 Nov 2020

I have an online store what are the VAT implications?

If you are thinking of starting a business online where you will be selling your product through your e store you will have to register your business as usual.

26 Oct 2020

3 Reasons You need to fill in Annual Self -Assessment Tax Return

You need to fill in the self-assessment tax return and pay income tax.

16 Oct 2020

I am a taxi driver can I apply for a grant through Self Employment Income Support Scheme?

If you are a taxi driver, registered as `self Employed’ with HMRC (you are not eligible for the grant if you work through a limited company) and your business is adversely affected by the Covid -19 from 14 July 2020 onwards you should go ahead and apply for the second grant government is offering. You can get this grant even if you are on a work visa.

16 Oct 2020

Sold my property back home. When and how do I Report it to HMRC?

What taxes do you need to pay if you sell your property abroad depends on your living status in UK.

09 Oct 2020

Self- Assessment tax return and Capital Gains Tax

If you have disposed any personal possession such as antiques, jewellery, paintings etc. which are worth more than £6000 you should declare it to HMRC and pay tax on any gains that arise as a result of the disposal.

Please see the Taxaccolega Chartered Accountants blog archive.