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To VAT Or Not To VAT… That Is The Question

Some new businesses choose to register for VAT, and others don’t. Sometimes that can be a matter of choice (until the £83,000 turnover threshold is hit, of course, after which everyone (or rather, most people) will need to be registered. But for some it isn’t something that they need...

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One Third of High Net Worth Are Under HMRC Investigation

[et_pb_section admin_label=”section”][et_pb_row admin_label=”row”][et_pb_column type=”4_4″][et_pb_text admin_label=”Text”] In an astonishing statistic just released by the National Audit Office (NAO), it would appear that one third of all those with a high net worth (ie anything over £10 million) is under investigation by HMRC – they are under a formal investigation. However,...

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Buy To Let Legal Case Fails

A group of landlords (known as the Axe The Tenant Tax group) recently went to the High Court to argue that the new taxes being brought in in 2017 for buy to let properties were unfair. They were represented by Cherie Booth QC. Their argument was that the extra...

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Will Airbnb Owners Have To Pay Extra Taxes?

Airbnb is an ever-growing and rather handy way of making some extra cash by renting out your home on a short term basis. Travellers and business people take advantage of finding home from home (literally) comforts in the exact places they need and want to be. Recently, however, Airbnb...

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Working From Home: What About Electricity?

Working From Home? Electricity Expenses Explained. Working from home, often as a sole trader certainly has its pros and cons, and, either love it or hate it, it is growing more and more essential to have a home office rather than commute. Claiming tax relief on certain items when...

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New Fines For Tax Avoidance ‘Peddlers’

The government has recently put forward plans for heavy fines for anyone caught ‘peddling’ tax avoidance schemes. At the moment, there are not many penalties for those people who sell tax avoidance schemes to the rich and to companies in order for them to exploit current taxation laws. However,...

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Does Facebook Owe $5 Billion?

There always seem to be stories in the news about this big company or that who should have paid tax but didn’t. And there always seems to be a reason behind it. Whether or not that reason makes sense, and whether or not the public agree with it, it...

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Will The Brexit Affect VAT?

Now that the referendum has been and done, and the result is that the UK will – at some point in the near future – leave the European Union for good, there are a number of questions that need to be answered. They range from queries about exchange rates...

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Donald Trump’s Tax Returns

Recently – and, in fact, many times in the past – Donald Trump has reminded those who are listening (and those who are not) that his tax returns are something to be admired. He seems very proud of them. Except, if that is the case, why won’t he release...

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How to Register with HMRC

The decision to become self-employed is not one to be taken lightly – it is an entirely different experience to being employed and receiving a regular salary from which the tax is already taken and dealt with. Being self-employed is the ideal solution for those who want more flexibility,...

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