HMRC is in the process of contacting nearly 900,000 people who hold more than £3,500 in their bank accounts. It’s part of a review into untaxed interest received on savings. If you receive a letter from HMRC, there’s no need to be alarmed. However, it’s important to understand why they’re reaching out, and what steps […]
Why you might hear from HMRC about your savings… and what to do next Read More »
Renting out a property can be a great way to earn extra income. But if you’ve forgotten to declare rental income to HMRC, time is of the essence. It’s important to take action now. Ignoring the issue won’t make it go away. In fact, it could lead to hefty fines, backdated tax bills, and even
Forgot to declare your rental income? Act now before HMRC comes knocking Read More »
Tax compliance is often seen as one of the least glamorous aspects of managing property, but it’s also one of the most critical. With the government’s rollout of Making Tax Digital for Income Tax and Self-Assessment (MTD ITSA), landlords need to adapt to significant changes in how they report their income and expenses. To help,
Making Tax Digital for Income Tax and Self-Assessment: A guide for landlords Read More »
A Furnished Holiday Let (FHL) is a property that is let out for short periods to holidaymakers. To qualify it must be available for letting as a furnished holiday accommodation for at least 210 days in the year and you must let the property commercially to the public for at least 105 days in the
The Furnished Holiday Let shake-up: what’s new in 2025 Read More »
