If the enquiry is simple and you’re confident with your records, you may handle it yourself.However, for anything more than a basic check, it’s strongly recommended to work with a tax advisor or accountant. They understand HMRC procedures, can represent you, and may help reduce or eliminate penalties. At Brayan & Spencer Associates Ltd, we […]
Understanding HMRC Tax Enquiries: Types, Triggers & How to Respond Read More »
In the UK, thousands of individuals earn their living as private tutors—teaching everything from maths and English to science, music, and languages. But whether you tutor full-time or part-time, understanding how VAT (Value Added Tax) applies to your tuition services is essential. This guide breaks down the VAT rules for private tutors in simple, easy-to-understand
VAT Treatment of Private Tuition: What Every UK Tutor Must Know Read More »
Are you a landlord or sole trader in the UK earning more than £30,000? If so, a major change is coming your way — and it starts with your taxes. The UK government is rolling out Making Tax Digital for Income Tax Self Assessment (MTD for ITSA), a new digital system that will replace traditional
Making Tax Digital for Self Assessment: Dual Guide for Landlords & Sole Traders Read More »
Selling goods or digital services online has never been easier — but with new tax rules coming into effect in 2024 and beyond, staying compliant has become more important than ever. One major development is the Digital Services Tax (DST), which HMRC describes as a 2% tax on the revenues of large search engines, social
Digital Sales Tax Compliance in the UK: 7 Costly Mistakes to Avoid in 2025 Read More »
Switching from a sole trader to a limited company in the UK is a big step—and a smart one for many growing businesses. With the right approach, it can lead to major tax savings, better protection, and a more professional business structure. But what are the exact steps? What does HMRC need from you in
Sole Trader to Ltd Company in UK: HMRC Rules, Tax Savings & Legal Steps in 2025 Read More »
The Spring Statement 2025 brought significant updates to the UK’s economic landscape, focusing on financial stability, public spending, tax changes, and compliance measures. This post provides a detailed yet easy-to-understand overview of the key announcements, helping individuals and businesses plan effectively. Public Spending Reductions: A Step Towards Fiscal Responsibility The UK government has announced measures
Spring Statement 2025 Key Updates for UK Businesses and Taxpayers Read More »
Tax season can feel overwhelming, especially for doctors and medical professionals in the UK. With busy schedules and complex finances, it’s easy to miss out on valuable tax deductions for doctors. But don’t worry! Understanding the essential allowable expenses for doctors can save you money and make tax filing less stressful. In 2025, there are several key deductions
Essential Tax Deductions for UK Doctors and Medical Professionals Read More »
As a sole trader in the UK, managing your finances is critical to running a successful business. One way to ensure you’re not paying more tax than necessary is by understanding allowable business expenses for sole traders. These are costs you can deduct from your taxable profit, ultimately reducing your tax liability. Below, we’ll break
Allowable Expenses for Sole Traders Read More »
Starting January 2025, HMRC will impose a £100 fine on UK households that fail to meet the Self Assessment Tax Return deadline. With just over a month left to file, it’s crucial for taxpayers to act quickly to avoid penalties. If you’re one of the millions who need to file, it’s important to stay on
HMRC to Fine UK Households £100 for Missing Self-Assessment Tax Return Deadline Read More »
The holiday season is upon us! As we prepare for Christmas 2024 and the excitement of New Year 2025, there’s no better time to get your Self Assessment wrapped up in time for Christmas. Completing your Self-Assessment Tax Return (SATR) early not only saves you stress later but ensures you can enjoy the holidays without
