What are my tax obligations as an Airbnb host?
What’s my Airbnb’s tax liability to HMRC? Much like landlords who rent to tenants, Airbnb hosts also have to declare their income to HMRC, depending on the amount of money they receive from their property. In 2020, Airbnb shared income data from 225,000 UK hosts with HMRC, meaning an increasing number of people had their earnings […]
Super deduction for Capital Expenditure
For a limited period companies are able to benefit from two additional first-year capital allowances – the super-deduction providing immediate relief for 130% of the qualifying expenditure and a 50% first-year allowance. However, time is running out to take advantage of these allowances. Key dates The super-deduction and the 50% first-year allowance are only […]
How to make your side hustle a success
The practice of owning a side hustle became popular in the UK during the Covid-19 pandemic, when 11.7 million employees became furloughed for the first time. But, what is a side hustle? A side hustle is a piece of work or a job that an individual can get paid for in addition to their […]
How VAT affects Christmas parties
During the festive period, businesses up and down the country will be celebrating with their annual Christmas party. Fortunately, one source of positive festive spirit can be found where employees of the company are involved. The general rule is that where only employees attend an event, be it a staff party or a team building […]
Self-assessment tax returns
With the festive season and the new year just around the corner the tax season is fast-approaching. Now is a good time to get a head start on your self-assessment tax return. Self-assessment is a system HMRC uses to collect tax on income that wasn’t taxed at source. People who are self-employed, such as […]
2023 Spring Budget breakfast
We invite you to join us on 21st March at 8:30am for our traditional Spring Budget breakfast, held at 30 City Road, EC1Y 2AB. Unable to attend? You can request a summary after the event using the form above. As with any Budget announcement the devil is always in the detail, and this is where our tax […]
Capital Gains Tax planning webinar
We invite you to join us and our tax consultant, Tim Palmer, at our first webinar for 2023, when we will be taking a look at Capital Gains Tax and the opportunities that might be available to you. Date: 15 February 2023 Time: 09:00 – 09:40 Price: Free Location: Zoom We will limit […]
Pre-5th April tax planning seminar
We invite you to join us on Thursday 23rd February 2023 at 8:30am for this pre-5th April Tax planning session which will be held at 30 City Road, EC1Y 2AB and hosted by our team of tax experts. During this session we will be taking a look at the following areas of tax: The effect […]
Employee tax concessions
No-one is going to disagree that the last few years have been stressful. Aside from the gloomy economic indicators we have had to cope with, we have also had to contend with COVID disruptions. Which is why it would be good to relax and unwind, during the forthcoming Christmas, New Year holidays. To help, […]
Deposits, Christmas parties and VAT
Written by VAT Partner, Sandy Cochrane Most businesses who throw their staff a Christmas party, will have had the disappointment, and the financial hit, of having to cancel not one, but two Christmas parties, since the outbreak of Covid 19. This December, many employers and employees have been excitedly preparing for their first proper […]