VAT Value Added Tax (VAT)

By Gary Robinson / August 16, 2025

VAT is a tax on sales and has nothing to do with profit. The current registration limit is £90,000 so once your sales reach £90,000 in any 12-rolling period you must register for VAT immediately. This can be done by downloading the form from HM Revenue & Customs website or completing the form online which…

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Transerring Property

By Gary Robinson / August 2, 2025

When you transfer property which in not your residential home into a company this must be done right as this has huge tax implications if not done correctly. There is a way to get this into a company avoiding stamp duty but this only applicable to those who run this as a partnership. By a…

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Tax Return Late filing Penalties

By Gary Robinson / July 26, 2025

Tax Return If you been sent a notice to complete a self-assessment income tax return you have until 31 January every year to get this submitted to HM Revenue & Customs or you will incur late filing penalties depending how long this is outstanding for. Late Filing Penalties Up to 3 Months £100.00 if it…

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Student Loan

By Gary Robinson / July 19, 2025

Do You Have a Student Loan? Do you have a student loan, if so are you repaying this, and do you know that this to be declared on your tax return? Repaying Student Loan There are different ways to repay this it can be either: Tax Return If you have a tax return to complete…

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July Tax Payment

By Gary Robinson / July 12, 2025

By now anyone who must make a payment on account towards their January 2026 tax liability should have paid this by 31 July 2025. This is meant for anyone who must complete a tax return and most of their income is not taxed at source e.g. self-employed, employed and self-employed. What Happens if I Don’t…

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Business Travel and Subsistence

By Gary Robinson / July 5, 2025

Travel and subsistence will be regular expenses of many businesses and this is where regular employee travel is an essential part of their operations. Whether it is generating new customers, servicing existing ones or attending conferences and other events, travelling often generates a number of ad hoc expenditures. If a company pays for these expenditures…

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Submitting Your Tax Return by Paper

By Gary Robinson / June 28, 2025

Tax Return If you are looking to submit your tax return on papers the 31 October is the last day you can do this. If you have a tax return to submit this will then have to be completed online but you first need to register with HM Revenue & Customs online services first, the…

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Update on Tax Issues

By Gary Robinson / June 21, 2025

Mandatory payrolling of benefits delayed HMRC has confirmed that the mandatory payrolling of benefits in kind (BIKs) will be delayed to April 2027, giving businesses more time to get to grips with the process. Previously planned for April 2026, the change will require businesses to report and process income tax and Class 1A national insurance…

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July Tax Payment on Account

By Gary Robinson / May 30, 2025

July Tax Liability By now anyone who must make a payment on account towards their January 2026 tax liability should have paid this by 31 July 2025. This is meant for anyone who must complete a tax return and most of their income is not taxed at source e.g. self-employed, employed and self-employed. What Happens…

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