UK Tax Risks of Running a Dubai Company
Running a Dubai Company from the UK? Here’s the Tax Risk No One Warned You About Introduction: The Appeal of Dubai for UK Entrepreneurs Dubai has become a hot destination, attractive to UK entrepreneurs looking to take advantage of its 0% corporate tax rate, favorable location, and active business-friendly infrastructure. With the promise of golden […]
MTD Deadline Extended till 2028 for £20,000 Threshold Income
MTD Deadline will be extended till 2028 for £20,000 Threshold Incomes As announced in the spring statement, the HMRC MTD will apply to the self-employed and landlords by April 6, 2026, who are earning above £50,000. This threshold was extended for individuals with an income of £20,000, making it mandatory for them to comply with […]
7 Key Strategies to Avoid Inheritance Tax on a House in the UK
How to Avoid Inheritance Tax on a House in the UK: Strategies Explained One of the major questions asked when the need to transfer the house arises is that, will my home be subjected to inheritance tax? The UK government provides a threshold to inheritance tax. If your estate doesn’t fall under this threshold, you […]
Making Tax Digital (MTD) for Sole Traders: What You Need to Know in 2025
The UK government’s Making Tax Digital (MTD) initiative is changing the way sole traders manage and report their taxes. The first phase of the (MTD) Making Tax Digital for business VAT has already been implemented. HMRC is rolling out new requirements that will impact landlords and sole traders across the country to make digital record-keeping. The UK […]
How to register as a sole trader
Anyone seeking self-employment and the autonomy to manage their business independently can register as a sole trader. Whether you’re involved in selling products or delivering services, once you’ve defined your entrepreneurial direction, you can readily follow it. The UK has about 60% sole traders as their business structure, which amounts to approximately 3.4 million sole […]
What is the Significance of a P11D form?
What is a P11D form? A P11D form copy is issued by UK employers to employees mentioning any ‘benefits in kind’ they receive and is sent to the HMRC for compliance purposes. These benefits in kind are services or items that are not included in salaries or wages and may include benefits like company cars, […]
Sole Traders: How to Optimize Your Tax Strategy in the UK
One of the most important aspects of running your business is optimizing your tax strategy. By ensuring you are paying the correct amount of tax and taking advantage of allowable deductions and reliefs, you can save money and maximize your profits. In this blog, we will explore the key steps to optimizing your tax strategy […]
Are You Looking to Switch Accountants? Follow These 5 Steps
Most clients and businesses are usually unaware of how to switch accountants they are unsatisfied with. As your accountant holds a lot of business information, things can get complicated once you decide to look for a new accountant – especially when you are entirely dependent upon them. Fortunately, you can make this transition hassle-free for […]
What are allowable expenses for the self-employed?
A business has various running costs – some of which are allowable expenses that can be deducted to work out your taxable profit. For instance, if your turnover is £100,000 and you claim £30,000 in allowable expenses, you will only pay tax on the remaining £70,000. This is known as your taxable profit. What allowable expenses […]