by admin | Sep 25, 2025 | Value Added Tax |
Businesses over £90,000 turnover must register for VAT, but HMRC may grant exceptions if the increase is temporary. A business must register for VAT if either of the following applies: At the end of any month, its taxable turnover in the previous 12 months has...
by admin | Sep 25, 2025 | HMRC notices |
Not all casual payments are tax-free; HMRC’s miscellaneous income rules may apply depending on the circumstances. The special miscellaneous income rules sweep-up provisions that seek to charge tax on certain income. This unusual provision, which is...
by admin | Sep 25, 2025 | Income Tax |
Paper tax returns are due 31 October 2025, and new registrants must notify HMRC by 5 October 2025. Act early to avoid penalties. Firstly, the deadline for submitting paper self-assessment tax returns is 31 October 2025. If you miss this deadline a £100 late...
by admin | Sep 25, 2025 | Income Tax |
Homeowners can earn up to £7,500 tax-free under the rent-a-room scheme, with simple reporting and flexible tax options. This set of special rules is designed to encourage individuals to make use of spare space in their property by providing a tax exemption on...
by admin | Sep 25, 2025 | Income Tax |
The standard tax treatment for couples living together, whether married or in a civil partnership, is that income from jointly held property is split equally (50:50) between them, regardless of their actual ownership shares. However, if the ownership is unequal and...
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