The UK Government is sending out letters to ask about cryptocurrency gains Many people mistakenly believe that their cryptocurrency dealings can be hidden from the UK tax authorities. In fact, HMRC gets data on crypto investors through data requests to UK-based cryptocurrency exchanges. So, if you are a UK taxpayer with dealings in cryptocurrencies you […]
Find out moreDo you know the tax deadlines for self-employed people? Are you self-employed? Are you a Partner in a business? Then you need to be aware of the key tax deadlines. Missing them could result in penalties and prove to be expensive. In today’s article, we check out some of the deadlines and identify why they’re […]
Find out moreR&D Tax Relief for small and medium companies Research and Development (R&D) relief is aimed at helping companies that work on innovative projects in science and technology. SME R&D relief allows companies to either: Enhanced expenditure Deduct an extra 130% of their qualifying costs from their yearly profit, as well as the normal 100% deduction, to make […]
Find out moreLetter from Agenzia delle Entrate saying you need to pay Italian tax? A number of our clients have received a letter similar to the one attached from the Agenzia delle Entrate saying that if they stayed in Italy because of COVID then they are Italian Tax Resident and need to pay tax in Italy. This […]
Find out moreOverview of UK IHT Inheritance Tax is the tax that has to be paid by the estate of an individual who has died. Their ‘estate’ is defined as their tangible assets – essentially their money, possessions and property. The principle may seem straightforward, but there are lots of complicated rules that make the process complex. […]
Find out moreWriting down and Annual Allowance – The principles In this article, we look at the two ways of writing down your capital expenditure on assets, as part of your Corporation Tax return – either through Annual Investment Allowances or Capital Allowances. Expenses you incur in your business will be one of two types – Revenue […]
Find out moreBudget update From a tax perspective, not much new was announced. The main items that are likely to impact our clients are: confirmation of the increase in dividend taxes by 1.25% (See below and our note 8/9/21) confirmation of the 1.25% increase in National Insurance from April 2022 (See our note 8/9/21) extension of Capital […]
Find out moreDo you work overseas? Are you in danger of paying social security contributions twice? If you’re an employee or if you’re self-employed, and you’re working overseas, there’s a danger that you’ll find yourself paying your social security contributions (Called National Insurance or ‘NI’ in the UK) twice, ie social security contributions in the overseas country […]
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