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UK Tax Blog
Tips to Pass HMRC Compliance Check Easily: Stay Off HMRC’s Radar
An HMRC compliance check is more than just a routine review—it’s a signal that something in your tax affairs has drawn attention. Whether you’re self-employed, run a company, or manage complex finances, avoiding scrutiny from HMRC should be part of your tax strategy. The reality is that many serious issues
Inherited Assets: The Importance of Acquisition Cost Basis
Inheriting assets can be a significant financial event, but it also brings with it complex tax considerations. One of the most critical yet often overlooked aspects of inherited wealth is understanding the acquisition cost basis. This figure plays a central role in determining future tax liabilities, particularly when the asset
Filing Your UK Self Assessment Online Made Simple
The 31st January Self Assessment deadline is fast approaching—and if you haven’t filed your return yet, now is the time to act. Delaying could mean instant penalties and added interest on unpaid tax. The solution? Book a self assessment filing service for personal taxes today to stay ahead. Whether you’re
Don’t Waste Your CGT Exemption: Simple Moves to Slash Tax
Capital Gains Tax (CGT) can take a significant bite out of your profits when you sell valuable assets like property, stocks, or collectables. However, knowing how to use your CGT exemption wisely can help you keep more of your hard-earned money. In this article, we will explain what the CGT
Construction Industry Scheme Deductions to Stay Compliant and Maximise Cash Flow
If you’re a contractor or subcontractor working in UK construction, understanding the Construction Industry Scheme (CIS) is not just good practice—it’s a financial necessity. Failing to comply with CIS regulations can result in withheld payments, costly penalties, and cash flow headaches. On the flip side, mastering the rules of CIS
Calculating Base Cost: The Foundation of Capital Gains Tax
If you sell a valuable item—such as a house, shares, or even a rare collectable—you may need to pay Capital Gains Tax (CGT) on the profit you make. Before calculating your tax, you must determine a key figure: the base cost of your asset. Think of the base cost as