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Many employees and business owners have welcomed higher earnings over the past few years. However, for a growing number of taxpayers, a larger salary does not necessarily mean significantly more …

Businesses must register for VAT if their taxable turnover exceeds the VAT registration threshold, or if they expect it to exceed the threshold in certain circumstances. The VAT registration threshold …

Not every hobby becomes a taxable business, but it is important to be aware when this can happen. This can apply even if you are making some money from your …

If your business is VAT registered, you can usually reclaim VAT on many of the goods and services you buy for business purposes. However, many businesses fail to claim everything …

Married couples and civil partners are taxed separately for Capital Gains Tax (CGT), meaning each person has their own annual tax position. However, with careful planning, transferring assets between spouses …

Property owners often incur costs for repairs, and understanding which costs can be deducted is important when calculating taxable property income. You can generally claim tax relief for repairs carried …

If your company makes a trading loss, it may be able to claim relief to reduce its Corporation Tax liability. Trading losses can often be used in different ways, depending …

Cyber-crime is no longer a problem faced only by large organisations. Small businesses are increasingly being targeted because criminals often assume they have fewer security measures in place. A successful …

Artificial intelligence (AI) is no longer just for large organisations. Many small businesses are now using affordable AI tools to reduce administration, improve customer service and free up valuable time …

If you are already registered for Making Tax Digital (MTD) for Income Tax, it is important to ensure you are ready for your first quarterly update deadline. Unlike a traditional …