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Rental Property Investment

Many people have rental properties whether it is an investment choice, they have moved and couldn’t sell their original property and decide to rent rather than reduce their resale price, or can’t afford to live in their house any more and move out permanently / temporarily until their financial situation improves. Income Tax On Rental Income If you decide to rent a property it is imperative that you declare this rental income to HMRC via Read more…

By Michael Thompson, ago

What is the VAT threshold

The UK VAT registration threshold is currently £77,000 of taxable sales. This means that if you have sales that would be subject to zero or standard VAT you need to the check the level of sales in a 12 month period to see if it is under or over the VAT threshold. What if I have a variety of sales? If you have a mixture of sales, some of which would be exempt from VAT Read more…

By Michael Thompson, ago