Do you need to register for Economic Crime Levy?
The Economic Crime Levy is a levy that applies to businesses that are already regulated for anti-money laundering purposes. Your business must register if your UK revenue is £10.2 million or more in a financial year and: Your business is already regulated by...
Holiday Lets averaging election
The furnished holiday let (FHL) rules allow holiday lettings of properties that meet certain conditions to be treated as a trade for tax purposes. In order to qualify as a furnished holiday letting, the following criteria need to be met: The property must be let on a...
Landlords – claiming maintenance and repairs costs
Landlords are able to claim for allowable expenses as a deduction from their rental income when calculating taxable rental profits to declare to HMRC. The expenses must relate wholly and exclusively for the purposes of renting out the property. There is also a range...
Time to Pay your tax
Businesses and self-employed people in financial distress, and with outstanding tax liabilities, may be eligible to receive support with their tax affairs through HMRC’s Time to Pay service. Any tax, duty, penalties or surcharges that you cannot afford to pay...
