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The Property Let Campaign – know where you stand

Knowing what you can and cannot claim as tax relief as a landlord can be confusing.

This can often be the case with mortgage repayments or letting a property out while travelling abroad, for example.

But what many may not be aware of is that the Government is currently running a campaign which allows landlords to declare […]

September 27th, 2015|

Find The Right Mortgage with a Specialist Mortgage Broker

Our clients have often struggled to secure suitable mortgages because of their unique working status. With this in mind we have teamed up with specialist broker Mortgages Made Easy to offer you a straightforward advisory service.

Approaching a bank directly can be very frustrating and stressful for individuals like yourself. Mortgages Made Easy recognised this problem […]

June 25th, 2015|

Landlord Quick Guide

Claiming expenses
Expenses fall into two categories: Revenue and capital.
Revenue expenses may be deducted from the rental income from tax purposes, but only if they have been incurred wholly and exclusively for the rental business and do not fall under a capital expense.
Capital expenses include expenditure such as the original cost of the land, buildings and […]

November 12th, 2014|

Tax Return Preparation

Preparation of your Personal Self Assessment Tax Return. Take the headache and worry out of submitting your Tax Return to HMRC.

With Tax Advantage preparing your Tax Return you can be sure that it is prepared to the highest standard. Once you have become one of our clients you will not have to worry about missing […]

November 12th, 2014|

How to Register for Self Assessment

If you do need to complete a Tax Return for the first time you will need to register for Self Assessment with HMRC, there are a number of ways you can do this depending on the reason you need to complete a Tax Return.

NOTE: You must register with HMRC no later than the 5th October […]

November 12th, 2014|

Do I Need to Complete a Tax Return?

Unlike other countries such as Australia, USA, Canada and many other countries it is not a requirement for every individual to complete a tax return.

You may think you do not need to complete a Tax Return but are you really sure? The problem is that the responsibility for realising when you need to complete a […]

November 12th, 2014|

Capital Gains Tax on Property

What is Capital Gains Tax on Property?  Capital Gains Tax (CGT) is a levied tax that may arise on the profit or gain you make when you sell or otherwise ‘dispose of’ an asset which is worth more than it was when you acquired it.

Disposal of an asset will be when you sell it, give […]

November 12th, 2014|

Self Employed Tax Rates & Allowances

Tax and National Insurance payments made to HM Revenue & Customs (HMRC) are different for a self-employed person to that of somebody working under pay as you earn (PAYE).

The actual rates of tax, allowances and rates of National Insurance for 2017/18 are detailed on the following page along with comparison tables from 2016/17.

If you would […]

November 12th, 2014|

Self Employed Driving Instructors

Self-employed Driving Instructors . Here at Tax Advantage we understand that running a driving school is a demanding business and your time is best spent on the road with your students and not having the headache of preparing your own accounts and tax return.

You may be sending time on trying to find answers to what […]

October 31st, 2014|

Statutory Residence Test

You work overseas, but do you work enough hours? There are a raft of calculations you have to perform to establish this, not only do you have to work out how many hours a week you work but how many days you actually work and what qualifies as relevant days and what as disregarded days.

[…]

October 31st, 2014|