Contractor

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Tax Regime end of Furnished Holidays, Things to know

In October 2024, HMRC announced the abolition of the furnished holiday lettings tax regime. This significant policy change is set to take effect from April 2025, marking a pivotal shift in how short-term rental properties are taxed within the UK property business landscape. The new regulations aim to align the tax treatment of furnished holiday […]

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Affordable Accounting from AAT-Registered Accountants

When it comes to managing finances, finding an affordable accountant who still delivers competent, reliable service can make a big difference to your bottom line. However, not all “cheap” accountants are created equal. If you’re looking for budget-friendly accounting services, an AAT-registered accountant can provide exceptional value without high costs. AAT (Association of Accounting Technicians)

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How to Recover UK Tax When Leaving the UK Mid-Tax Year

If you’ve been working in the UK as an employee and had tax deducted from your pay, but you’re planning to leave the UK partway through the tax year, you might be eligible to reclaim some of the tax that was taken from your earnings. The UK operates a “pay as you earn” (PAYE) system

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Director Loan Accounts and Section 455 Explained

Discover how Director Loan Accounts work and what Section 455 tax means for UK business owners. Learn key rules, repayment timelines, and tax implications. Outline What is a Director Loan Account? Types of Director Loan Accounts What is Section 455 Tax? How Section 455 Tax Works? Example of Section 455 Tax Interest on Director Loans

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Allowable Expenses for CIS Subcontractors

Outline What expenses can I claim as a CIS scheme subcontractor? What is a CIS Subcontractor? Expenses CIS Subcontractors can Claim Tools and Equipment Transportation Training and Certification Materials Subcontractor Fees Insurance Professional Fees Office Expenses Conclusion FAQ’s What expenses can I claim as a CIS scheme subcontractor? As a CIS subcontractor in the UK,

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How to Apply for CIS Refund in the UK

Outline Introduction Understanding CIS Refunds Eligibility for a CIS Refund How to Apply for a CIS Refund Different Methods for Submitting a CIS Refund Application Additional Tips and Considerations Common Mistakes to Avoid in Your CIS Refund Application Conclusion FAQs (Frequently Asked Questions) Introduction A CIS refund is a tax refund available to individuals and

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The Ultimate Guide to Construction Industry Scheme (CIS) in the UK

Outline Introduction Understanding the Construction Industry Scheme (CIS) What are the Responsibilities of Contractors & Subcontractors? What are the Types of Work Covered by CIS? How Does the Construction Industry Scheme (CIS) Work? The Mechanics of CIS: A Step-by-Step Guide 1. Registering for CIS2. Key Requirements for CIS Registration3. Tax Deduction Rates Important Aspect of

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