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 […]
Tax Regime end of Furnished Holidays, Things to know Read More »
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)
Affordable Accounting from AAT-Registered Accountants Read More »
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
How to Recover UK Tax When Leaving the UK Mid-Tax Year Read More »
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
Director Loan Accounts and Section 455 Explained Read More »
Outline Should you voluntary register for VAT? What is VAT? Voluntary VAT Registration Benefits of Voluntary VAT Registration Disadvantages of Voluntary VAT Registration How to Register for VAT Working out VAT Returns Conclusion FAQs (Frequently Asked Questions) Should you voluntary register for VAT? Put simply, VAT happens to be a major factor in UK business
Should you voluntary register for VAT? Read More »
Outline What is a UTR When Do You Need a UTR? How to Get a UTR from HMRC What to do If You Lose Your UTR? Things to keep in Mind How FAAS Accountants Can Help? What is a UTR? A Unique Taxpayer Reference (UTR) is a 10-digit number issued by HMRC (Her Majesty’s Revenue
Outline Introduction Buying a Car Through a Business: Tax Implications Explained Corporation Tax Deductions on Car Expenses Capital Allowances and Their Link to CO2 Emissions VAT Reclaim: Conditions and Considerations for Business Vehicles Understanding Benefits in Kind (BIK) Tax Implications with Company Cars Fuel Benefits Tax Implications and Employer Responsibilities National Insurance Contributions on Employee
A Guide to Buying a Car Through Your Business or personal Read More »
Outline Introduction Understanding Salary and Dividends Tax Efficiency: Salary vs Dividends Other Considerations in Compensation Planning Balancing Stability and Flexibility: Benefits and Drawbacks Making an Informed Decision Case Study: The Mixed Approach Strategy in Action Conclusion Call to Action: Consult FAAS Accountants for Expert Salary and Dividend Advice FAQs (Frequently Asked Questions) Introduction Business owners
Ultimate Guide on Salary or Dividends in the UK Read More »
Outline Introduction Understanding Legal and Accountancy Practices for Charities Different Types of Charity Accounts and How to Prepare Them Meeting Annual Reporting Requirements for Charities in the UK Effective Financial Planning and Management for Charities Ensuring Transparency through External Scrutiny of Charity Accounts Key Considerations for Accurate Charity Accounts Preparation Additional Resources for Charity Accounting
Guide to Charity Accounts in the UK Read More »
Outline Introduction Understanding Postponed VAT Accounting and Its Advantages Key Considerations for Utilizing Postponed VAT Accounting in the UK Who Can Account for Import VAT on Their VAT Return? When Can You Account for Import VAT on Your VAT Return? When Must You Account for Import VAT on Your VAT Return? Using Someone to Import
Postponed VAT Accounting in the UK Read More »
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