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The official deadline for filing your self-assessment tax returns for the year ending 5th April 2024 is the 31st of January 2025. However, there are many reasons to consider filing your taxes months before this date. First, understanding your tax liability early in the year can give you a clear picture of your profit for…Read More

Dext, Apron, and QuickBooks’ Receipt Snap each have unique strengths and weaknesses, making them suitable for different types of businesses. Dext Dext integrates seamlessly with Xero and QuickBooks, offering a comprehensive suite of products tailored for various clients and businesses. QuickBooks’ Receipt Snap Receipt Snap is a straightforward tool primarily suited for smaller companies or…Read More

Style Your Space Choose your décor style either sleek and modern or bold and colourful—and stick with it. Make Your Listing Pop Write a catchy title and description that showcases what makes your place special. Show it Off Take great photos that highlight your space’s best features. Price Wisely Set competitive rates that attract guests…Read More

Buying a property can sometimes be tricky, but there are ways to make your offer shine, whether it’s straightforward or involves negotiations or sealed bids. Here are some tips to help you secure your dream home: Getting Ready to Make an Offer Before making an offer, ensure your paperwork is in order. You’ll need to…Read More

Dreaming of owning a Buy to Let property? Getting your first BTL mortgage should be your first step into the world of Buy to Let property owners. Mortgages can be highly complicated and it is likely that a mortgage advisor would be required. Chances are you will need to own a main residence mortgage before…Read More

Here are five reasons why investing in buy-to-let property in 2024 could be a smart move. Despite recent price drops, experts project that property prices will rise in the upcoming years. This presents an opportunity for investors to capitalise on potential capital appreciation, especially if they enter the market during a period of discounted prices.…Read More

As a newly VAT registered business you may find yourself asking, “When is my VAT due?” Understanding your VAT due date is essential to ensure compliance with HMRC regulations and avoid penalties. This post can provide some clarity on VAT due dates and offer tips to help you manage your VAT obligations effectively. VAT Due…Read More

Stamp Duty Land Tax is a tax you will need to pay if you buy property or land over a certain price in the UK. How much SDLT tax you will need to pay will vary due to a few factors such as: Stamp Duty Land Tax rates as of present, up to the 31st…Read More

After reading this post you will gain an understanding on the VAT deregistration process, including what makes you eligible and what you need to consider. VAT Deregistration Deregistration means that a business is no longer VAT registered and is not required to charge VAT on its goods and services, this also means that VAT cannot…Read More

Financial management for a rental business can be complicated. It can be confusing to know how to categorise your expenditure on the business and the tax treatment can be different depending on the type of expense. That’s why it is important to be able to distinguish between capital expenses and allowable business expenses.   Capital Expenses:…Read More

If you buy, purchase, or inherit property with another individual, you must decide how you want to ‘hold’ the property together. Under UK law you can become a joint owner as either ‘joint tenants’ or ‘tenants in common’. The type of ownership you choose affects what you can do with the property if your relationship…Read More

What are consent to let mortgages? Consent to let mortgage is a formal, written agreement between you and your mortgage lender which gives you permission to rent out your home for a short period of time. It is the only legal way that you can rent out your house on a residential mortgage. It is…Read More

What is a lifetime ISA? A lifetime ISA is a tax-free savings account that can be used to buy your first home costing up to £450,000 (please note that other conditions apply) or as retirement money once you are more than 60 years old. You must be aged 18 or over but under 40 when…Read More

Capital gains tax is the tax on any wealth (money/property) that is then used to make additional wealth or increase the value of that current wealth. For example, this could be through making capital improvements to your property to increase the value of this property. Everyone has an allowance of £6,000 annually that would enable…Read More

If you have acquired some valuable antiques or artefacts or have inherited some bespoke Jewellery and wish to sell it on, you may be subject to capital gains tax. The rates for capital gains tax are at 10% for basic rate taxpayer and 20% for higher rate taxpayers. These items are known as non-wasting Chattels…Read More