by Rachael Hayes | Mar 18, 2025 | Accounts, Tax
MTD IT - Frequently asked questions What is MTD IT? Making Tax Digital for Income Tax (MTD IT) is part of HMRC’s plan to modernise the tax system. It requires self-employed individuals and landlords to keep digital records of their income and expenses and submit...
by Rachael Hayes | Mar 18, 2025 | Accounts, Business, Tax
MTD IT - What it means for the self-employed. The UK tax system is evolving, and if you’re self-employed or a landlord, these changes could significantly impact how you manage your finances. Making Tax Digital for Income Tax Self-Assessment (MTD IT) is set to...
by Rachael Hayes | Feb 3, 2025 | Uncategorised
Running a business comes with many responsibilities, including understanding how to manage its finances. One of the most common questions business owners in the UK ask is, “Can I take money out of my business for personal use?” The answer depends on the...
by Rachael Hayes | Dec 9, 2024 | Budget
The 2024 UK Budget introduced a noteworthy reclassification that’s set to affect a significant segment of businesses and drivers. Starting from April 2025, double-cab pick-ups (DCPUs) will be treated as cars rather than commercial vehicles for several tax purposes....
by Rachael Hayes | Nov 7, 2024 | Uncategorised
Many entrepreneurs wonder how to access their profits while maintaining the benefits of running a limited company. This query often leads to uncertainty regarding legal obligations, tax implications, and the overall financial structure. Throughout this article, we...
