Blog11th Mar 2022Tier 1 Investor Visas officially scrapped!Priti Patel announced last month that the commonly known “golden visa” is officially scrapped with immediate effect, therefore preventing any new applicants. View more
Blog9th Mar 2022How is my crypto taxed? Surprising answers for UK residents and non-domsIn the increasingly digital world we live in, HMRC are simultaneously trying to keep up with, and crack down on, new ways of avoiding tax. Of particular significance, is the rapidly expanding cryptocurrency market, often making headlines for mind-blowing returns…View more
Blog24th Feb 2022Crypto Assets? HMRC have their eye on you…Cryptocurrency and crypto assets are increasingly becoming a common investment opportunity for many individuals and businesses. Whilst most investors will be ‘testing the water’ with any gains arising from the Capital Gains Tax ‘CGT’ annual exempt amount of £12,300 each…View more
Blog14th Feb 2022Working from Home – will the tax relief be axed?Throughout the COVID-19 pandemic, workers across the country have been required to work from home due to national lockdowns and to curb the spread of coronavirus. As a result, and to help with the cost of increased household expenses, the…View more
Blog12th Jan 2022HMRC effectively extends Self Assessment deadline by 30 daysHMRC have announced they will effectively push back the Self Assessment filing deadline for submission of the 2020/21 Self Assessment Tax Returns from 31 January 2022 to 28 February 2022. For the second year in a row this gives the…View more
Blog17th Dec 2021No CGT hikes on the horizonLast year the Office of Tax Simplification (OTS) proposed that Capital Gains Tax (CGT) rates should mirror Income Tax rates which would have seen the top rate of CGT rise to 45% from 28%, in order to help ‘close the…View more
Blog10th Dec 20212022-23 Scottish BudgetKate Forbes delivered the Scottish Government’s Budget for the 2022-23 fiscal year on Thursday 9 December 2021. We outline the tax changes that individuals residing in Scotland should be aware of from a personal tax perspective.View more
Blog30th Nov 2021HMRC issue one too many letters – again…HMRC are sending letters to individuals who are named as a Person of Significant Control (PSC) of a company registered at Companies House. These letters have been issued to a large number of taxpayers and are being sent directly to individuals…View more
Blog22nd Nov 2021Submit your Tax Return by 30 December and avoid paying your tax in January!Sound good…? There may be a way for you to have tax collected via your tax code instead of paying your total bill in January. You can pay your Self-Assessment bill through your PAYE tax code if you submit your Self-Assessment Tax…View more
Blog10th Nov 2021There is no escape – Making Tax Digital will include Non Doms and Non UK ResidentsMaking Tax Digital for Income Tax Self Assessment (MTD for ITSA) compliance obligations are still being introduced in the UK. This was originally due to be implemented in 2023, but after much lobbying from a variety of professional bodies, this…View more
Blog10th Nov 2021HMRC Nudge Letters to Crypto Currency InvestorsThis month will see HMRC issue “Educational Nudge letters” aimed at UK investors in the crypto market. The letters will ask taxpayers to check they have reported crypto gains correctly and paid the right amount of capital gains tax, or…View more
Blog28th Oct 2021Non Resident Landlords continue to own up to HMRC…Around 250 non UK resident landlords voluntarily disclosed previously undeclared rental income for 2020/21 to HMRC, via their ongoing “Let Property Campaign”.View more