Category Archives: Tax Advice

Property & Tax- 5 things

Property & Tax- 5 things

Five things Property Investors should take onboard when it comes to property and tax. Property & Tax – 1 Consider the type of property and time frame of the investment, short term or long term. Property will either be commercial and/or residential property. Commercial properties include offices, hotels and warehouses.Regarding rental income, residential rent may be more certain on an

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Getting Started with Cloud Accounting and Xero: Three Things to Know

Getting Started with Cloud Accounting and Xero: Three Things to Know

Financial and business information plays a vital role in the management of businesses. It is used for numerous day-to-day operations: To comply with accounts, tax, PAYE and VAT obligations To tell us about levels of cash, income, costs, debt and monies owing To track income and expenditure from products, services and project. A cloud-based accounting system like Xero helps you

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Tax Return Reminder

Tax Return Reminder

Three key tips in for you to consider if you haven’t filed your tax returns yet. The clock is ticking, the 31-Jan-19 is D-Day, and if late penalties will apply, even if no tax is owed. Here at Pro Active we’re in full swing! We will be contributing to the filing of the many millions of Tax Returns that need

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Making Tax Digital

Making Tax Digital

What is MTD? Making Tax Digital (MTD) is helping HMRC achieve their stated ambition of becoming a world leader in digital tax administration. As well as, making sure the UK tax system is effective, efficient and easier for taxpayers. MTD for VAT is the first major step in that ambition. From 1 April 2019, VAT-registered businesses above the threshold of

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Property And Capital Gains Tax

Property And Capital Gains Tax

Property returns are made by way of income (rentals and trading) and/or capital gains. This article will focus on the capital gains considerations for an individual residential property investor, post 5th April 2018. Property gains are calculated by deducting the capital costs from the value of the disposal, the disposal is normally by sale or transfer; net gains will be

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VAT Rates And Charities

VAT Rates And Charities

VAT is a tax that affects charities and arts organisations, and not just private business. This blog will look at the principles of VAT and how it directly affects arts charities, many of whom struggle when deciding which VAT rates to use for different goods and services. VAT registered businesses charge output VAT on the products and services they supply

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Starting A Business And The Risks Involved

Starting A Business And The Risks Involved

Starting a business and the risks involved can sometimes put people off pursuing their dreams. However once you get that spark of inspiration, it’s hard to contain the excitement that comes with your plans of starting a new business. After all, this is something that will not only allow you to expand your income, it would also be the perfect

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Self-Employed & Running Your Own Business

Self-Employed & Running Your Own Business

Becoming Self-Employed Registering as self-employed and running your own business can be extremely rewarding. However, being the captain of your own ship whilst losing the safety net of employment can be tough to balance. It comes about as a result of a conscious decision or a drift into it. In this blog we will share some thoughts based on our

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Tax & Property Tax: Personal v Company Route

Tax & Property Tax: Personal v Company Route

Tax and property interact in a number of ways, more so when we consider the personal and company route for property ownership.  Over the twenty plus years that we have been advising our clients on property tax, one of the more popular questions is whether or not their property business should be run through a company.  The government’s announcement about

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Taking The Stress Out | Tax Returns Video

Taking The Stress Out | Tax Returns Video

Tax Returns Video Tutorial It’s that time of year for those dreaded tax returns to be prepared and submitted. The next few months can be a very stressful time for individuals and business owners, which is why we have created a short tax returns video to outline how you can take the stress out of your tax returns. Simple and easy

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