File Overseas Entities Annual Updates: Deadline soon!
The one-year anniversary of the UK Register of Overseas Entities has passed, signalling the commencement of the updating duty process. Entities are required to file an annual update statement, even if no changes have occurred in the overseas entity’s profile, beneficial owners...
31 January 2024 Deadline for Hybrid LLPs: Withdrawal and Settlement Considerations
As the 31 January 2024 deadline for Hybrid Limited Liability Partnerships (LLPs) approaches, participants are facing pivotal decisions. Recent letters from HMRC have brought attention to the ongoing scrutiny of Less Tax for Landlords, the planning provider in focus. While some seek...
HMRC’s VAT Investigations Yield £11.4bn: Uncovering Unpaid Taxes Surge
In a noteworthy surge, HMRC’s VAT investigations witnessed a 23% increase last year, as the tax authority launched a robust campaign with 104,900 probes targeting unpaid VAT. The intensified efforts, particularly focused on mid-sized businesses, resulted in the recovery of...
Side Hustle Tax Trends: Regional Insights and a 1,415% Search Surge
The quest for information on “side hustle tax” has skyrocketed by a staggering 1,415% within a 72-hour period. This surge in searches is a direct result of growing concerns surrounding the reporting rules on HMRC’s online platform. Platforms in the...
Last Call: 5.7M Taxpayers on the Brink of Missing the Self Assessment Deadline
As the January 31 self assessment deadline approaches, a significant 5.7 million taxpayers find themselves in a scramble to meet their 2022/23 obligations. What adds to the challenge is the limited telephone support from HMRC, leaving many taxpayers and agents...
Claiming Child Benefits Goes Digital: Streamlined Process for Modern Parents
In a significant leap towards modernisation, HMRC has announced the digitisation for claiming child benefits, ending the era of paper applications that have persisted since the service’s inception in the 1970s. New parents can now conveniently claim child benefits online,...
Online Seller Tax Regulations: New Reporting Rules for Platforms like Airbnb, eBay, and Vinted
Are you earning from online ventures like selling clothes or renting out your space? Brace yourself for tighter online seller tax regulations starting January 1, as platforms like Vinted, Airbnb, and eBay are now mandated to share transaction details with...
HMO Licensing Gets Stricter with New Licence Requirement
A new licensing scheme for Houses in Multiple Occupation (HMOs) has been implemented in Royal Greenwich from January 1, 2024. This initiative, focusing on smaller HMOs, mandates landlords to obtain additional licensing for properties where three or more residents from...
Choosing the Right Property Investment in the UK
Embarking on the journey of property investment in the UK offers a distinct avenue for financial growth, distinct from traditional investment avenues such as stocks and bonds. This guide delves into the intricacies of wealth creation in the UK property...
By using this website, you agree to our use of cookies to enhance your experience.
For more information, please see our Cookie Policy.
Close