How To Buy To Let Through a Limited Company

Rental income

Over the years, there has been a sizeable shift toward purchasing investment property, essentially ‘buy to let’ property, through limited companies. This shift has been driven primarily by the desire for both homeowners and landlords to reduce transaction costs, and it seems that the primary impetus behind this development falls mainly down to the recent […]

Default HMRC Record Keeping Period Explained

hmrc record keeping 6 years

The HMRC Record Keeping 6 years Period is the period that HMRC will keep documents relating to registered businesses. The period begins six years from the last time an entry is made in the records with all records being deleted after one more year. Both HMRC and any third parties who work with HMRC must […]

Under What Circumstances Would HMRC Investigate A Self-Employed Person?

when does HMRC investigate self-employed

Filing your tax return can be a nerve racking process. No matter how thoroughly you’ve checked it before submitting, there’s always that little bit of lingering doubt that something might have slipped through the net. This might leave you concerned that you may be investigated by HMRC. So, when does HMRC investigate self-employed workers, and […]

What Is Corporation Tax Payment on Account?

corporation tax payment on account

Corporation tax payment on account simply means paying your corporation tax in instalments throughout the year, rather than as a lump sum. This is useful because it can help spread the cost of your corporation tax bill and make it more manageable. Dealing with any kind of business tax can be tricky so it’s important […]

What Is A HMRC Statement of Earnings?

hmrc statement of earnings

HMRC’s Statement of Earnings, also known as form L17, is an important document that all employers are required to submit. It details how much money an employee has earned in a given tax year and lists any allowances or deductions that have been claimed. This guide will explain everything you need to know about this […]

How To Redact Confidential Information From Bank Statements

Redacting bank statements

If you have to provide a bank statement as part of a legal process, or if you just want to protect your privacy, it is important that you know how to redact confidential information from your documents. Redacting means blacking out or hiding sensitive information so that it cannot be seen. There are a few […]

What Are Creditors Amounts Falling Due Within One Year?

creditors amounts falling due within one year

When looking at a company’s balance sheet, one of the most important line items to look at is creditors’ amounts falling due within one year. This figure tells you how much money the company owes to its creditors and which is supposed to be paid within the next 12 months. It’s important to understand what […]

Are You Due A Payment On Account Refund From HRMC?

Payment On Account Refund

When you work for yourself in the UK, there are a lot of things to keep track of – from your business expenses to making sure you’re paying the right amount of tax. If you overpay on your taxes, you may be due a payment on account refund. There are various reasons why you may […]

Guide To Self-Assessment Payment On Account

self-assessment payment on account

While self-employment has many fantastic benefits, there is one issue that is a thorn in the side of many self-employed people: taxes. Unlike people in traditional employment, self-employed people are responsible for calculating and paying their own income taxes. This is done through self-assessment payment on account which is an estimate of a person’s tax […]

Guide To Handling HMRC Tax Errors and Mistakes

HMRC errors and mistakes guidance

HMRC, or the Her Majesty’s Revenue and Customs, is a government department in charge of taxation in the United Kingdom. They are responsible for overseeing the collection of taxes, as well as providing financial assistance to citizens and businesses. HMRC also plays a role in regulating certain economic activities and ensuring that businesses are properly […]

Where is Forex legal and illegal?

forex

While the global forex market is one of the most liquid entities of its type in the world, this sector remains at the mercy of numerous challenges and misconceptions. Incredibly, the practice is even illegal in some jurisdictions, with some authorities believing them to be highly damaging and vulnerable to rigging in the worst-case scenario.

Should My Business Accept Cryptocurrency As Payment?

crypto payments

Cryptocurrencies have been around for a while now, but they are still not as widely accepted as regular currency. However, more and more businesses are starting to accept crypto payments, and for good reason! There are a number of benefits to accepting crypto payments, such as quicker and easier payments, no fees or chargebacks and […]