If you’re a high-net-worth individual, business owner, or investor in the UK looking to safeguard your assets, minimise personal tax exposure, and grow family wealth long-term, you may have asked yourself: what is a personal investment company (PIC)? A personal investment company is not a tax loophole, nor is it a one-size-fits-all solution—but when structured […]
What is a Personal Investment Company? Read More »
When it comes to managing business expenses in the UK, the question often arises: is gym membership tax deductible for business? As the focus on employee well-being and mental health continues to grow, many business owners are exploring whether they can claim gym memberships as a legitimate business expense. This article will help you understand
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Are you planning to relocate outside the UK and wondering, “can HMRC chase me abroad?” You’re not alone. This is a frequent concern for UK taxpayers, especially those with outstanding tax liabilities or undeclared income. The answer is straightforward: yes, HMRC can pursue individuals abroad if there are unpaid taxes. Whether you’re a freelancer, contractor,
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If you’re self-employed in the UK, you’re probably aware that you can claim certain business expenses to reduce your taxable income. One area that causes a lot of confusion is the food allowance for self-employed individuals. Can you claim for every meal? What are the rules? And how do you ensure your claim is accepted
Food Allowance for Self-Employed: What Can You Claim? Read More »
Understanding how the second-hand van qualifies for AIA is essential for UK businesses looking to maximise their tax efficiency. The Annual Investment Allowance (AIA) offers a significant tax relief mechanism, allowing eligible businesses to deduct the full cost of qualifying capital assets from their taxable profits in the year of purchase. While the AIA is
Does a Second-hand Van Qualifies for AIA in the UK? Read More »
Understanding the Council Tax system is essential for any property owner or tenant in the UK. The amount you pay is influenced by the value of your property, categorised into different bands. The Highest Council Tax Bands apply to the most valuable homes and typically incur the largest tax bills. If you’re unsure about how
Highest Council Tax Bands in the UK? Read More »
The Construction Industry Scheme (CIS) plays a critical role in how payments are made to subcontractors working in construction within the UK. Whether you’re a contractor or a self-employed individual, it’s vital to know your CIS status to ensure tax compliance, avoid penalties, and make accurate financial plans. In this detailed guide, we’ll explain how
How to Check CIS Status in the UK ? Read More »
Starting a business can be both exciting and overwhelming, especially if you’re unsure where to begin. One of the most straightforward and widely adopted business structures in the UK is the sole proprietorship. It’s a business model where a single individual owns, manages, and operates the business without forming a separate legal entity. The individual
What is a Sole Proprietorship? Things You Should Know Read More »
Couples in the UK can use Marriage Allowance to move a section of their personal tax allowance over to their spouse or civil partner. This means families can cut their tax bill by up to £252 each year. However, there are circumstances where you may need or wish to cancel your Marriage Allowance. In this
How to Cancel Your Marriage Allowance – A Complete Guide Read More »
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