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Nov 6, 20243 min read
Selling your house and garden separately – why the order matter - Go Figure Financial | Bookkeeping Services Manchester
There are circumstances in which it may be desirable to sell some or all of a garden or the land attached to a residence separately from...


Nov 6, 20243 min read
MTD latest update - Go Figure Financial | Bookkeeping Services Manchester
Nearly ten years ago in March 2015 the then-Chancellor George Osborne announced a government initiative setting out a vision for the 'end...


Nov 6, 20243 min read
Is there such a thing as having too much cash? - Go Figure Financial | Bookkeeping Services Manchester
While having more money in your bank account than is needed may seem ideal, for director shareholders of a company with surplus cash, it...


Nov 6, 20243 min read
VAT – the partial exemption 'trap' – Go Figure Financial | Bookkeeping Services Manchester
If a VAT registered business has taxable income only (including zero-rated sales), it is entitled to full input tax recovery on its...


Oct 1, 20243 min read
Tax planning for trading losses - Go Figure Financial | Bookkeeping Services Manchester
A sole trader or partnership business may make a loss for several reasons – not necessarily because it is not doing well. A business can...


Oct 1, 20242 min read
Tax implications of building an office for home working - Go Figure Financial | Bookkeeping Services Manchester
Following the pandemic, flexible working hours are on the increase. This shift has provided employees with the legal right to request...


Oct 1, 20243 min read
Should you dispose of old documents? - Go Figure Financial | Bookkeeping Services Manchester
Over the past few years, tax enquiries aimed at identifying and correcting errors or deliberate under-reporting in tax returns have...


Oct 1, 20242 min read
UK tax treatment of rent from overseas properties - Go Figure Financial | Bookkeeping Services Manchester
A person who is resident and domiciled in the UK is liable to UK tax on their worldwide income. Consequently, if they have overseas...


Oct 1, 20242 min read
Start of a property rental business - Go Figure Financial | Bookkeeping Services Manchester
A property rental business will have a start date, and it is important to know when this is. A landlord will normally undertake some...


Oct 1, 20243 min read
Using a property company for furnished holiday lets - Go Figure Financial | Bookkeeping Services Manchester
The current tax regime for furnished holiday lettings has a number of advantages, including the ability to deduct interest and finance...


Oct 1, 20243 min read
Restarting child benefit claims - Go Figure Financial | Bookkeeping Services Manchester
Many parents who fell within the ambit of the High Income Child Benefit Charge (HICBC) opted not to receive child benefit, rather than to...


Oct 1, 20243 min read
What can HMRC do if you do not pay your tax bill? - Go Figure Financial | Bookkeeping Services Manchester
HMRC have a range of powers at their disposal to collect unpaid tax. If you are struggling to pay a tax bill, or know that you will not...


Oct 1, 20242 min read
Do I need to worry about IR35? - Go Figure Financial | Bookkeeping Services Manchester
If you provide your services personally to an end client through your own limited company or other intermediary, you may fall within the...


Oct 1, 20242 min read
Realistic scam letters – how to check if a letter purporting to be from HMRC is genuine - Go Figure Financial | Bookkeeping Services Manchester
Scammers are becoming increasingly adept at fooling people and a favoured tactic is a letter, a text or an email purporting to be from...


Oct 1, 20243 min read
Making a voluntary disclosure if you have not told HMRC about tax that you owe - Go Figure Financial | Bookkeeping Services Manchester
There are various reasons why a person may not have told HMRC about the tax that they owe, ranging from a simple oversight to the...


Sep 2, 20243 min read
Are professional fees tax deductible? - Go Figure Financial |Bookkeeping Services Manchester
As ever, the answer to this question depends on what type of professional fees have been incurred. Professional fees are income and...


Sep 2, 20243 min read
The company makes a loss – can a dividend be paid? - Go Figure Financial | Bookkeeping Services Manchester
Anyone who invests in a company is taking a chance, hoping that the directors, as representatives of the company, will use the money to...


Sep 2, 20242 min read
Be aware of VAT bad debt relief - Go Figure Financial | Bookkeeping Services Manchester
Despite the improving economy, bad debts are still a fact of life for many businesses. HMRC is aware that not all invoices are paid on...


Sep 2, 20242 min read
Utilising losses from a property rental business - Go Figure Financial |Bookkeeping Services Manchester
Where a landlord makes a loss on their property rental business, the options for using that loss are limited. The rules depend on whether...


Sep 2, 20243 min read
End of the FHL regime and transitional rules - Go Figure Financial | Bookkeeping Services Manchester
Landlords with furnished holiday lettings (FHLs) currently enjoy favourable tax advantages compared to those letting residential property...
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