Author name: Pat Sharma FCA, ACCA

Pat Sharma FCA, ACCA Pat Sharma is a Fellow Chartered Accountant (FCA) and ACCA-qualified tax advisor with over 15 years of experience supporting small businesses, contractors, landlords, and limited companies across London. As the founder of Brayan & Spencer Associates, Pat specialises in proactive tax planning, cloud accounting, and HMRC compliance for UK businesses.

Joint property ownership in the UK

Joint Property Ownership in the UK: Clear Tax Rules for Landlords and Property Owners 

Leave a Comment / HMRC News, Property taxes, Self Assessment tax return /

Joint property ownership is a common arrangement for residential and investment properties across the UK. Whether you share ownership with a spouse, partner, friend, or business associate, it’s essential to understand how HMRC treats joint ownership especially when it comes to tax reporting and compliance or UK landlords and property owners. This guide explains the official rules and obligations under UK tax law and […]

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Lifetime ISA Explained

Lifetime ISA Explained: Why You Should Open One Before Age 40 

Leave a Comment / accounting tips, News, Tax Save Tips /

For many individuals across the UK, particularly those aged 18 to 39, there is a valuable financial planning opportunity that is frequently missed not because it is complex, but because the deadline is poorly understood.  The Lifetime ISA (LISA) is a government-backed savings and investment vehicle designed to support first-time buyers and long-term retirement planning. However, it comes with a strict age condition that

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HMRC Tax Relief

Self Assessment Tax Return Deadlines: Avoid Late Filing Penalties UK 

Leave a Comment / Self Assessment tax return /

For UK taxpayers, Self Assessment penalties rarely occur because people refuse to comply. They usually happen because deadlines are misunderstood, registration is delayed, or filing is left too late to correct issues.  For the 2024–25 tax year, HMRC requires your online Self Assessment tax return to be submitted by 31 January 2026. This date is fixed in law. HMRC systems apply penalties

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HMRC Tax Relief

Maintenance Payments Relief Explained: A Rare Historic HMRC Tax Relief Still Relevant for Some

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UK tax legislation includes a number of historic reliefs that continue to exist under transitional rules, even though they no longer apply to modern financial arrangements. One of the least understood examples is Maintenance Payments Relief, a provision that may still reduce a tax bill for a very limited group of taxpayers. Because this relief

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Budget 2025

UK Budget 2025: Key Tax Impacts for HNWIs, Property Investors & Global Families

Leave a Comment / Business Tax /

The Chancellor’s 2025 Budget marks a strategic recalibration rather than a radical overhaul of the UK tax system. While much public speculation focused on sweeping reforms to wealth taxation, capital gains, and property levies, the final Budget confirms a more measured approach. For private clients, property investors, trustees, and internationally mobile families, the significance of

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UK Budget 2025

Budget 2025 – Key Summary & What It Means for You

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The UK Government’s Budget 2025 sets out major reforms to support households, strengthen public services, modernise taxation, and drive long-term economic growth. Key Point Budget 2025 1. Overall Direction The Budget focuses on reducing the cost of living, cutting borrowing, supporting economic growth, and strengthening public services, particularly the NHS. It also introduces major reforms

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UK Budget 2025 Highlights

UK Budget 2025 Highlights: What UK Taxpayers Should Know About the New Changes

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The UK Budget 2025, presented by Chancellor Rachel Reeves, introduces significant tax and financial changes that will impact individuals, families, investors, landlords, and businesses across the UK. As a leading Tax Advisory Firm in London, Brayan & Spencer Associates has summarised the key announcements so UK taxpayers, especially London residents can understand how these changes

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2024–25 Self-Assessment tax return

2024–25 Self-Assessment: HMRC Changes, Key Dates, and What UK Taxpayers Should Know

Leave a Comment / Self Assessment tax return /

For UK taxpayers, the Self-Assessment season can feel overwhelming especially when the rules change or deadlines approach quickly. This guide breaks everything down clearly, with step-by-step guidance to help you confidently file your 2024–25 Self-Assessment tax return online before the deadline of 31 January 2026. Whether you are self-employed, a landlord, earning through a side

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UK Inheritance Tax – Chargeable and Non-Chargeable Assets

UK Inheritance Tax – Chargeable and Non-Chargeable Assets

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This memorandum summarises the assets chargeable and non-chargeable for UK Inheritance Tax (IHT), distinguishing between UK-domiciled (or deemed-domiciled) individuals and non-UK-domiciled individuals. 1. Overview UK Inheritance Tax (IHT) applies based on domicile, not merely residence. UK-domiciled or deemed-domiciled individuals are taxed on worldwide assets, while non-UK-domiciled individuals are taxed only on UK-situated assets. 2. UK-Domiciled

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Companies House ID Verification Deadline UK 2025 A Must-Read for London Directors

Companies House ID Verification Deadline UK 2025: A Must-Read for London Directors

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If you’re a company director in London, an important compliance change is coming your way. By 18 November 2025, all UK company directors must complete their Companies House ID verification. It’s part of the UK government’s move to improve business transparency and reduce financial fraud. While it may sound like another admin task, failing to

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