Tag: tax deductions
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The Difference Between Capital and Revenue Expenses on Your Rental Property.
Not all property expenses are treated the same for tax. Learn the key differences between capital and revenue expenses, what you can claim, and when to report them — so you don’t fall foul of HMRC rules.
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Top Ways to Legally Pay Less on Your Self-Assessment Tax Bill
Nobody wants to overpay tax — especially when there are legal ways to reduce your bill. From expense claims to pensions and the Trading Allowance, here’s how business owners can pay less tax while staying on HMRC’s good side.
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Navigating the Property Market — Your Guide to Buying, Selling and Investing
Welcome to the world of Rental Property. If you’re considering diving into the rental market, you won’t just become a landlord; — you’ll be stepping into the exciting realm of small business ownership. Owning rental property can be a lucrative venture, but it also comes with its own set of challenges and responsibilities. So how…
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Capital Gains Tax on Property — What You Need to Know
Are you thinking of selling a Property? Whether it’s a second home, a Rental flat or a Property you’ve inherited, Capital Gains Tax (CGT) might be waiting around the corner. You can avoid surprise bills by understanding when CGT applies, how much you might owe and what reliefs are available. You might even be able…
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Understanding Trusts — What They Are and Why They Matter
When it comes to estate planning and protecting your wealth, Trusts are among the most powerful tools available. Many people shy away from them, though, thinking they’re only for the wealthy, or that they’re overly complicated. In fact, Trusts can benefit a wide range of people — from parents wanting to provide for their children…
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VAT Made Easy — Your Fun Guide to Value Added Tax
VAT (Value Added Tax) might sound complicated and scary, but there’s no need to hide behind the sofa. We’re going to break it down into bite-sized pieces. Whether you’re just starting out or looking to brush up on your tax knowledge, this guide will help you navigate the world of VAT with ease and confidence. …
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Understanding Rental Property Expenses — What You Can Claim
Welcome to the world of Rental Property ownership. If you’re a Landlord or thinking about becoming one, it’s crucial to understand your business expenses if you want to maximise your profits and minimise your tax liability. Just like every business, owning rental property comes with its fair share of costs. In this blog, we’ll look…
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What You Need to Know About Property and Tax
Property can be a very attractive investment. Quite apart from the home you live in, you might be looking at a model where you buy, renovate and sell, making a substantial profit. Alternatively, you might prefer a longer-term investment that generates a regular rental income. Like any income-making model, though, it’s going to involve paying tax on…
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Claiming Expenses When You’re Self-Employed — Your Fun Guide to Keeping More Cash
Are you a Self-Employed Superstar? Perhaps you’re a Freelance wizard, or a small Business owner. One thing’s for sure, though — you want to keep as much of your hard-earned cash as possible. And guess what? You can do just that by claiming allowable business expenses. Let’s dive into the fun world of the expenses…