by Gary Woosey | Dec 19, 2022 | Tax
Understanding your income tax and personal allowance is important when looking at your finances and how you are taxed. Everyone has a personal allowance, but what does this mean for you? A personal allowance is the amount of money you are allowed to earn each tax year...
by Gary Woosey | Dec 13, 2022 | Uncategorized
As a business owner, the financial health of your company plays a key part in every decision you make. Management accounts are a great way to review the financial standing of your company, allowing you to make any necessary alterations and place your attention where...
by Gary Woosey | Dec 7, 2022 | Tax
A furnished holiday let (FHL) is a particular type of rental property classification in the UK. If your property qualifies as an FHL, it is classed as a ‘trade’ by HM Revenue & Customs (HMRC), meaning you are entitled to various tax advantages. However, to be...
by Gary Woosey | Nov 29, 2022 | Uncategorized
For most small businesses, Christmas is the busiest time of the year, having a large impact on yearly revenue. In fact, companies expect to make two-thirds of their annual profits over the festive period, despite current economic uncertainty. According to a recent...
by Gary Woosey | Nov 22, 2022 | Tax
Landlords are being targeted by HM Revenue & Customs (HMRC) over what appears to be undeclared rental income or income related to residential property. HMRC’s Wealthy External Forum sent 606 letters to landlords who have submitted deposits into a tenancy deposit...
