Blog

Tax Reform
News
Fahad Lateef

Get Ready for Possible “Tax Reforms”

As the chief of national finance, Chancellor of the Exchequer, Rishi Sunak, is supposedly considering a broad scope of changes to raise funds for the Treasury in the recuperation period of the pandemic.

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Tax Planning
General
Fahad Lateef

Tax Planning | Here Are the Steps on How to Do It

The United Kingdom has a complex and constantly changing tax system. Numerous tax reliefs and provisions are available to reduce tax liabilities legitimately without entering the more difficult territory of tax avoidance.

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Self-Employment Income Support Scheme
News
Fahad Lateef

Self-Employment Income Support Scheme

The Self-Employment Income Support Scheme was initially introduced on March 26, 2020, and gave an underlying grant to independently employed people whose organizations were unfavorably influenced by the pandemic.

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 VAT on Electric Car Chargers
News
Fahad Lateef

HMRC’s VAT on Electric Car Chargers

Her Majesty’s Revenue and Customs (HMRC) has confirmed that the VAT on open electric vehicle (EV) charging will remain at 20% after demands for clearness from organizations around decreased rates.

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Construction VAT Rates
Value Added Tax
Fahad Lateef

Construction VAT Rates

One of the more convoluted aspects of VAT is the treatment of construction work in the construction industry. The construction VAT rates for new structures is charged at the zero rate of VAT, given that the building is to be used for a social reason.

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News
Fahad Lateef

Property Sales Hit New Records

The Chancellor of the Exchequer, Rishi Sunak, temporarily lifted stamp duty tax on the initial £500,000 of property buys in July of last year, and in March, he extended the exception by a further three months to the furthest limit of June.

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Rental Income
Income Tax
Fahad Lateef

How Much Tax Do You Pay on Rental Income?

The amount of tax you pay on rental income relies primarily on how much profit you make, and what your work status is. In this article, we discuss the taxes that landlords face, the role of HMRC, and additional guidance for landowners.

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Tax Raid on Pensions
News
Fahad Lateef

Tax Raid on Pensions A Way Out of COVID-19?

A triplet of changes to pension contributions are being drawn up, including lessening the pensions lifetime allowance from just over £1m to around £800,000. Bringing down this limit has a significant impact, as pension savings are heavily taxed above this allowance

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