All VAT-registered businesses in the UK must now meet new reporting requirements introduced as a consequence of Making Tax Digital. If you don’t run a VAT-registered business, Making Tax Digital won’t have affected you so far. You may not have even heard of Making Tax Digital. Written for Expats Network by...

Managing UK tax affairs can be tricky when you are an expat. With non-domiciliary status high on the news agenda recently, it’s prudent for expats to ensure they have an accurate understanding of their obligations under UK tax law and that they are fully prepared to report and pay their tax bills. ...

Understanding Self Assessment can be challenging for many self-employed people. The technical information can be difficult if not impossible to understand, while – let’s face it – it’s hardly the most interesting subject.   And the use of tax terminology rather than plain English can literally leave many people scratching their head when they’re reading...

Important UK tax changes introduced by HMRC from the start of the 2022/23 tax year in April can affect landlords just as much as other taxpayers and in some cases they can have a significant impact on your tax bills. With prices rising sharply seemingly across the board, you should be aware of how...

Time is running out for landlords and other Income Tax payers, with the Self Assessment online filing deadline of midnight on the 31 January fast approaching. Miss it and straight away you’ll have to pay a Self Assessment late-filing penalty of £100. Written for Expat Network by GoSimpleTax The penalties...

Company director income is often made up of a relatively small amount of wages paid through the company payroll, topped up with company share dividend payments, with both taxed accordingly. But what if you’re a company director with income from other sources, more specifically, rental income from renting out property?     Article by...

A Unique Taxpayer Reference (UTR) number is a ten-digit code required by all sole traders, partnerships, and limited companies in the UK.  It’s unique to that individual or organisation and remains unchanged forever. You will also need a UTR if you have other forms of income or expenses that require you...

Whether COVID-19 has uprooted you or it’s just simply time to return to the UK, it’s important to put the relevant tax measures in place before booking your plane tickets. Almost every year, expats return to the UK only to find themselves at odds with HMRC. In most cases, this is...

Payments on account can be one of the most common stumbling blocks when it comes to your self-assessment tax return. Although it was introduced as an initiative to help taxpayers spread their tax payments, it can often result in annual frustration and can actually harm your cash flow if you are caught unaware. ...

In the UK, landlords are able to save tax by sharing the Personal Allowance of their lower-earning spouse. This way, they can maximise the total household’s take-home pay without falling foul of the taxman.  However, there are strict rules. And it’s for this reason that we’ve asked Mike Parkes from GoSimpleTax to explain the...

As the pandemic continues to impact our way of life, it’s never been so important to manage finances and plan ahead. Understanding the latest tax changes and how they will affect you can be hard to get your head around, especially with everything going on. One change that self-employed taxpayers had...

Have you welcomed the news of no penalties for filing late, are you one of the millions yet to file your UK self-assessment due to being adversely affected by coronavirus? Having your self-assessment up to date has aided the self-employed with claiming government schemes and for filing your 19/20 tax return GoSimpleTax look at...