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Tax compliance Christina Brown
If you are a landlord or sole trader with an income likely to exceed £50,000 in the current tax year (2026/27), you should ideally have submitted your first quarterly update by 7 August. However, if you’ve missed that deadline, you need not worry for now as HMRC has confirmed a...
Tax compliance Christina Brown
Innovation is important for growth, and therefore, businesses carrying out qualifying Research and Development (R&D) activities may be eligible for valuable Corporation Tax relief under the UK's R&D tax rules. The relief available and value will be subject to the accounting period and company specific, with different rules applying for...
Tax compliance Christina Brown
With the evolution of technology, manual spreadsheets, receipts and ledger books have been gradually phased out. While many traditional or family-owned enterprises may still be comfortable with old-fashioned financial management and bookkeeping processes, these need to be updated with new technology. As new compliance requirements, such as Making Tax Digital...
Tax compliance Christina Brown
In the UK, income tax is charged on an individual’s total or net income from all sources of earnings. The Personal Allowance, which is currently £12,570, is normally allocated to the salary earned through your main job. While you can request HMRC to allocate it to another job, if the...
Tax compliance Christina Brown
As the 2025/26 tax year progresses, it is important that taxpayers understand their obligations for reporting income and filing their Self Assessment tax returns with HMRC on time. Missing important HMRC deadlines can result in automatic penalties, interest charges and further fines if delays continue. Planning ahead and keeping accurate...
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Tax compliance Christina Brown
The UK government is trying to modernise the tax system with Making Tax Digital (MTD). This means that many individuals must register, record, and file their tax returns online using software that works with it. If you are a landlord, freelancer or sole trader and are wondering, does MTD apply...
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