HM Revenue & Customs has started issuing data driven compliance letters to Uber drivers and other private hire drivers across the United Kingdom. These letters follow the receipt of income data directly from digital ride hailing platforms such as Uber and comparison of that data against submitted Self Assessment tax returns. The message is clear: all income generated […]
HMRC Compliance Letters to Uber Drivers 2026 Guide Read More »
From 6 April 2026, HMRC will introduce a significant change to how UK sole traders and landlords report their income. Under Making Tax Digital for Income Tax, individuals with qualifying income above £50,000 will no longer rely solely on an annual Self Assessment return. Instead, they will be required to keep digital records and submit updates throughout the tax year. This change is part
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
Joint Property Ownership in the UK: Clear Tax Rules for Landlords and Property Owners Read More »
Making Tax Digital (MTD) for Income Tax will be one of the largest changes to personal tax in a generation.It’s not only an improvement to how we report taxes it’s a fundamental transformation towards a digital system that will make managing tax easier, quicker, and more transparent. This will require landlords and sole traders to
6 Things You Should Know About Making Tax Digital for Income Tax Read More »
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 »
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 »
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 »
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
