UK TAX

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The ultimate Guide on Accounting for Amazon FBA Businesses

Leave a Comment / Business, Contractor, e-Commerce Accountants, small business / Michael Burris

Running an Amazon FBA (Fulfillment by Amazon) business can be highly profitable, but managing finances and accounting properly is crucial for long-term success. Many sellers struggle with bookkeeping, VAT compliance, and reconciling Amazon payouts—especially in the UK, where ecommerce accountants in London specialise in helping Amazon FBA sellers stay compliant. In this comprehensive guide, we’ll cover:✅ What is […]

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What is National Insurance in the UK?

Leave a Comment / Business, Contractor, e-Commerce Accountants, Landlords Accountant, Self Employed, small business, Tax Return 2024 / Michael Burris

National Insurance (NI) is a tax system in the United Kingdom that funds the State Pension, NHS, and various welfare benefits. Contributions are made by both employees and employers, and the rates depend on earnings and employment status. However, certain payments made by employers are exempt from National Insurance contributions. Understanding these exemptions can help

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Tax Relief: How to claim Tax Relief in the UK (2024/25)

Leave a Comment / Business, Contractor, e-Commerce Accountants, Self Employed, Tax Return 2024 / Michael Burris

Learn how to claim pension tax relief in the UK for 2024/25. Discover the difference between Net Pay & Relief at Source, how higher earners can reclaim extra tax relief, and key HMRC rules. How to Claim Pension Tax Relief in the UK (2024/25) – A Complete Guide Saving into a pension is one of

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Business Mileage Allowance UK 2024/25: How to Claim & Save

Leave a Comment / Business, e-Commerce Accountants, Landlords Accountant, Self Employed / Michael Burris

If you use your personal vehicle for work, you may be eligible to claim mileage allowance relief (MAR) to reduce your tax bill. HMRC allows you to claim tax-free mileage at approved rates, but certain costs cannot be claimed separately if you use this method. This guide explains who can claim, how to calculate mileage

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Crypto Staking in the UK and its Tax Implications

1 Comment / Business, crypto / Michael Burris

What is Crypto Staking? Crypto staking involves locking your cryptocurrency in a blockchain network to validate transactions and earn rewards. This process, common in proof-of-stake blockchains like Ethereum, generates additional crypto as staking rewards. How Does HMRC Classify Crypto Staking? HMRC typically classifies crypto staking as an investment activity, not a trade. This means: Staking

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Tax Regime end of Furnished Holidays, Things to know

Leave a Comment / Business, Contractor, Landlords Accountant, Self Employed, Tax Return 2024 / Michael Burris

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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Manage Restricted and Unrestricted Funds for UK Charities

Leave a Comment / Charity Accounts, Self Employed / Michael Burris

Effective management of restricted and unrestricted funds is essential for UK charities to maintain financial health, comply with regulatory standards, and uphold donor trust. Mismanagement can lead to penalties or reputational damage. This guide outlines the best practices for segregating and reporting these funds while ensuring compliance with UK charity regulations. Understanding Restricted vs. Unrestricted

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Affordable Accounting from AAT-Registered Accountants

1 Comment / Business, Charity Accounts, Contractor, crypto, e-Commerce Accountants, Landlords Accountant, Self Employed, small business, Tax Return 2024, UK VAT / Michael Burris

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

2 Comments / Business, Contractor, Landlords Accountant, small business, Tax Return 2024, UK VAT / Michael Burris

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

1 Comment / Business, Charity Accounts, Contractor, e-Commerce Accountants, Landlords Accountant, small business / Michael Burris

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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