There are simplified arrangements in place for the self employed (and some partnerships) to claim a fixed rate deduction for certain expenses where there is a mix of business and private use. The simplified expenses regime is not available to limited
The VAT Flat Rate scheme (FRS) has been designed to simplify the way a business accounts for VAT, and in so doing, reduces the administration costs of complying with the VAT legislation.
Using the FRS, you simply pay VAT as a fixed percentage of
As existing Self-Assessment tax filers will be aware, the deadline for online submission of your 2016-17 Self Assessment tax return is 31 January 2018. This is also the date that the payment is due for the balance of any Self Assessment liability for
The government’s move to restrict the tax relief landlords receive on finance charges started to take effect from April this year. This is the first year that finance charges are being restricted. The tax relief on mortgage costs used to buy