Making Tax Digital for Income Tax (MTD ITSA) is on the way and it will change how many landlords report their rental income to HMRC. If you own property personally and complete a Self Assessment tax return each year, this is something to be aware of. This post explains what’s coming, when it starts, and how to make the switch as smooth as possible…
If your Self Assessment tax return still isn’t done, now’s the time to get it moving.
Every year the deadline creeps up, HMRC gets flooded with last-minute returns, and people end up stressed, rushed, and more likely to make mistakes. A bit of action now can save a lot of hassle later…
Running your own limited company usually means keeping a close eye on costs and tax. But not every expense has to feel serious or complicated. HMRC allows companies to provide small perks, known as trivial benefits, without creating extra tax or reporting as long as the rules are followed.
When used properly, trivial benefits are a simple way for directors to enjoy modest treats through their company, without unexpected tax bills later.
The 2025 Budget didn’t bring sweeping tax cuts, but a long list of freezes, rate rises and restrictions means most people will feel the impact over the next few years, especially the self-employed, landlords and small businesses.
Here’s a summary of what’s changing, with all the important percentages included…
If you run a small limited company, maybe it’s just you, or you plus one or two others, you can still make the most of HMRC’s annual event exemption. It’s a really straightforward way to enjoy a Christmas meal or day out without creating a tax bill…
