Landlord Self Assessment Tips – How To Complete Your Tax Return
Many UK landlords, possibly you included, do their own annual Self Assessment tax returns, even though it’s a task that most dislike. It’s boring and it takes up precious time you would rather spend doing anything else. Here are our landlord self assessment tips. Article written by GoSimpleTax But you can save a few quid...
HMRC Crackdown On Airbnb Tax Evasion: How Could It Affect Some Hosts?
Airbnb’s success is truly amazing. The story began in 2007, when the first two Hosts welcomed three guests to their San Francisco home. Airbnb now has more than 4m Hosts worldwide who have welcomed more than 1.5bn guests in more than 220 countries. Article written by GoSimpleTax There are hundreds of thousands of active UK...
Busy Landlord? Here’s How To Complete Your Self Assessment Tax Return Quicker
Life can be busy when you’re a landlord. Leaving aside managing your property and tenants, many landlords must also cope with the demands of a job or running a business. Then there’s your own domestic and family responsibilities. The last thing you need hanging over you is a tax return to complete, but we’re steadily...
Navigating Freelance Income Reporting As A US Expat
The digital age has transformed the landscape of work, ushering in the era of the global freelancer. As professionals venture beyond borders, capitalizing on the ability to work from anywhere, many find themselves navigating the expat lifestyle. This global shift brings its own set of challenges, particularly in the realm of freelance income reporting. The...
Navigating the Complexities of US Expat Taxes: A Webinar Hosted by Expat Network and Greenback Expat Tax Services
Living abroad is an exciting adventure filled with new experiences, cultures, and opportunities. However, for US citizens, the complexities of expatriate taxation can often dampen the joy of this global journey. That’s why Expat Network, in collaboration with Greenback Expat Tax Services, is hosting a webinar titled “Navigating the Complexities of US Expat Taxes.” This...
Long Term UK Expats May Face Huge UK Tax Charges
UK expats who have lived abroad for many years often remain UK-domiciled and therefore liable to UK Inheritance Tax (IHT). The rate of this tax might be considered penal. It is currently 40% on the total value of the estate of a deceased after the exemptions. It is an additional tax payable on capital accumulated...
What UK Tax Will You Pay If You Move From The UK To Dubai?
More than 120,000 expat Brits are reported to live in Dubai, the UAE’s second-largest emirate (Abu Dhabi is the biggest). Many are attracted by Dubai’s sunny climate, as well as its family-centred, clean and safe environment (serious crime is almost non-existent). Article written by GoSimpleTax The beaches are beautiful, and while its traditional Arabic heritage...
Survey Reveals a Complex and Evolving Landscape for American Expatriates
The latest survey results from Greenback Expat Tax Services reveal a complex and evolving landscape for American expatriates, as they face an array of regulatory and financial challenges. Notably, 1 in 5 US expats are contemplating or planning to renounce their US citizenship, and an alarming 42% are not dismissing this drastic measure. This data,...
Key Tax Facts For Current And Would-Be HMO Landlords
There are reported to be about half a million “HMOs” (ie houses in multiple occupation) in the UK. A rented property is considered an HMO if at least three tenants live in it and they make up more than one household, with shared toilet, bathroom and/or kitchen facilities. Written for Expat Network by GoSimpleTax Typically,...
US Expats In Line For Potential Tax Windfall
The US Government’s Covid Stimulus initiative offers a tax silver lining to US Expats and Green Card Holders. Those with children could receive a double tax windfall in the form of Child Tax Credit. Tax returns need to be filed by June 15th to take advantage of financial benefits. UK-based US citizens and green card...
Six 2023/24 Tax Year Changes You Should Know If You’re A UK Landlord
April 6, and that can mean only one thing – the start of the new UK tax year. It’s when most changes to UK tax rules come into force, which can be good or bad news for you and your rental income. It can also be the perfect time to make tax less of a...
Making Tax Digital For Income Tax Delayed: So, What Should You Do?
In December 2022, the government announced its decision to delay introducing Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) for two more years until April 2026. What should you do? Article written for Expat Network by GoSimpleTax The government says it has done so because it...