Heighten Accountants
Tax Codes in the UK refer to a series of numbers and alphabets used by HMRC to determine how much income tax needs to be deducted from your earnings. These codes are used to reflect on an individual’s tax-free allowance and any other additional income that requires ...
The term Value Added Tax (tax) refers to a consumption tax imposed on goods and services in the UK. It can be charged at different rates such as standard, reduced and zero-rated rates. Businesses that meet certain criteria must register themselves for VAT, charge it...
The UK hospitality industry is currently facing significant shifts in employment costs, driven by recent National Insurance (NI) changes, increased minimum wages, and rising operational expenses. These changes place additional pressure on restaurants, bars, and hotel...
As a self-employed professional individual, managing your own finances can make you feel a bit overwhelmed sometimes. Whether you are a freelancer, sole trader, or an independent contractor, it is crucial to keep accurate financial records. This guide will bre...
In the UK, it is a general rule that as a landlord, you are only taxed on your net rental profits rather than your total rental earnings. You can calculate your net rental profits through this formula: Net Rental Profit = Gross Rental Income – Allowable Expense...
If you are a landlord in the UK, and are thinking about selling your property, an essential part of this process includes assessing the Capital Gains Tax (CGT) applied to your sale. CGT is calculated only on the Profit made from selling your property, not on the full...
