Category: News

For a sole trader in Coleraine, the transition from a small-scale operation to a VAT-registered business is a major milestone, but it often brings a wave of trepidation. Value Added Tax (VAT) is a consumption tax that you collect on behalf of HMRC, and in 2026, the rules around registration are tighter than ever due… Continue reading When Should a Sole Trader in Coleraine Register for VAT?

Operating a small business along the rugged and beautiful Causeway Coast presents unique opportunities, particularly in the tourism, hospitality, and artisan sectors. However, the administrative burden of staying tax-compliant can often feel as daunting as a winter storm at Giant’s Causeway.  Many local entrepreneurs in towns like Portrush, Bushmills, and Ballycastle are exceptionally skilled at… Continue reading What Are The Most Common Tax Mistakes Small Businesses in The Causeway Coast Make?

In the fast-paced UK business environment of 2026, your accountant should be more than a once-a-year tax filer; they should be a proactive partner in your growth. If you find yourself frustrated by slow response times, unexpected fees, or a lack of forward-thinking advice regarding Making Tax Digital (MTD), it may be time to move… Continue reading How Do I Switch Accountants If My Current Firm Isn’t Meeting My Needs?

Navigating the UK tax landscape in 2026 requires a sharp eye for detail, especially with the introduction of Making Tax Digital (MTD) for many self-employed individuals and landlords. The fundamental principle remains the same: an expense is generally “allowable” if it is incurred “wholly and exclusively” for your trade.  However, as the cost of doing… Continue reading What Business Expenses Can I Legally Claim on My UK Tax Return This Year?

Making Tax Digital will be mandatory for some traders and landlords next year. Ahead of this, the government is ramping up its guidance to help you get ready. What is the latest offering? Some sole traders and landlords will be mandated into Making Tax Digital for Income Tax Self-Assessment (MTD ITSA) next April. HMRC has… Continue reading HMRC MTD ITSA webinar – worth a look?

Chancellor Rachel Reeves kept her pledge that there would be no more tax rises at the Spring Statement, but there are some important Making Tax Digital developments hidden away in the tax related documents. What do you need to know? The timetable for Making Tax Digital for Income Tax Self-Assessment (MTD ITSA) includes mandating sole… Continue reading Hidden MTD news in Spring Statement documents

Self-assessment returns aren’t set up for the change in capital gains tax (CGT) rates on the government filing system and will require a manual adjustment for 2024/25 to ensure the correct amount is paid. Why is there a problem and can a new online tool help? At the Autumn Budget 2024, the government announced that… Continue reading New CGT reporting tool