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- Saturday Appointments Available — Book Now for Tax Returns & More
- Information You Need to Supply for Professional Help with Your Tax Return
- Tax Refunds After Redundancy: Claiming Your Cash Back – A Taxfile Guide
- Decoding IR35: Your Guide to Contractor Tax Status
- UK Landlords: Is Your Portfolio Ready for the Digital Tax Revolution? (Making Tax Digital for Landlords)
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LONDON OFFICE:
Taxfile,
25 Thurlow Park Road,
Tulse Hill, London
SE21 8JP.
Tel: +44(0)20 8761 8000
Email: info@taxfile.co.uk
New 30-Day Rules for Capital Gains on Residential Property
/in 2020, 2021, 2022, Accountancy, Accountants, Annual exempt amount, Buy to let, Capital gains tax, CGT, Dulwich, Furnished Holiday Lettings, HMRC, Holiday lettings, Key dates, Land and property, Landlords, Lettings, property, Property investment, Self-assessment, South London, Tax, Tax advice, Tax advisers, Tax return, Tax returns, Taxes, Taxfile, Tulse Hill/by MarkNew rules have now come into force in relation to capital gains made on disposals of UK residential property*. Several key actions are now required if a taxable capital gain has arisen, including some that now need to be made fast:
Who Do the New CGT Rules Apply To?
The new rules apply whether you’re an individual, joint property owner, trustee, partner in a partnership or LLP, or a personal representative.
What Counts as a Residential Property Disposal?
The new rules apply to all UK residential property that was disposed of (taken as the date of the exchange of contracts) since 6 April 2020 inclusive, where a capital gain was made that will require payment of CGT.
To fall within the rules, a UK residential property must be one that:
It can be one in which the the owner has never lived or has lived for only part of the period they owned it. It can also be a rental property or a holiday home.
Where a property has been used for mixed purposes, only the capital gain that’s equivalent to
Have You Received an Annual Return/Confirmation Statement Reminder?
/in Accountancy, Accountants, Annual Return, Confirmation Statement, Directors, Dulwich, Limited companies, Tulse Hill/by TaxfilePlease do not ignore the yearly e-reminder/letter, from Companies House, to submit the Annual Return/Confirmation Statement for your Company. Hi — I’m Eveline and I am the administrator/coordinator of the Limited Companies business team and this is one problem that we come across too often at Taxfile. As a Director, you just need to confirm […]
SEISS: The 5th & Final Round
/in 2020, 2021, coronavirus, Coronavirus, COVID-19, COVID-19, Pandemic, Pandemic, Partnership, SEISS, Self-assessment, Self-employed, Sole traders/by TaxfileHMRC has already started contacting possible eligible sole traders and partnerships for the 5th and final Self Employed Income Support Scheme grant announced by the Government last year. HMRC’s online access for applications is due to open later this month (July) and the grant will cover the period 1st May 2021 through to 30th September […]
Harnessing Technology at Taxfile
/in 2021, Accountancy, Accountants, Accounts, Bookkeeping, Buy to let, Cab drivers, Capital gains tax, CGT, CIS, Construction Industry Scheme, Dulwich, Furnished Holiday Lettings, IHT, Income tax, Landlords, Lettings, Lettings income, Limited companies, Limited company, London, Partnership, Self-employed, Sole traders, South London, Tax, Tax accountants, Tax advice, Tax advisers, Tax refunds, Tax returns, Tulse Hill, VAT/by TaxfileThe rapid pace of technological change has caused some of the biggest shifts in how we view and process our tax returns. At Taxfile, we’re constantly striving to use technology as effectively as possible to aid us in collecting, analysing, and collaborating when working on your personal data.
Over the pandemic, we’ve had to place our reliance even further on technology to maintain our standards, with regular meetings online. We’re constantly improving the efficiency of our work pipeline and, with the ability to pull figures directly from online bank statements, we can ensure precision in the numbers we present you with. For the last two years, we’ve implemented cloud technology as both a collaborative tool between our senior and junior staff and as storage for various databases used to track everything from employee working hours to the status of your tax return. We’re expanding further on this concept in collaboration with Pure Technology by merging our existing cloud systems with our current remote work solution to form one, all-encompassing workspace environment. Hosting it in the Microsoft Cloud ensures that, with the help of our office staff, your paperwork and bookings can be sent to and viewed by your tax agent as soon as possible. This and a variety of other endeavours are examples of our ambitions to be at the forefront of innovations, and constant review of our policies ensures we remain ahead, or on track, to meet the standards set by Making Tax Digital (MTD) for its 2023 launch.
Contact South London’s Favourite Accountant
Taxfile can help you with all your tax or accountancy requirements. We offer
Workspaces Available at Taxfile Offices
/in 2021/by TaxfileDue to how COVID has changed the landscape of how Taxfile employees work, we now how some beautiful workspaces available at out studios situated at 11a Turney Road, SE21 8LX. We can offer desks and rooms for businesses to rent on a weekly basis. If you are looking for a short-term or long-term inexpensive relaxed […]
Faiz from Taxfile – Helping the Community with Tax Problems
/in Accountancy, Accountants, Accounts, HMRC, Landlords, NI, NIC's, P60, Partnership, PAYE, Self-assessment, Self-employed, Subcontractor, Tax, Tax advisers, Tax affairs, Tax agents, tax experts, tax rebates, Tax refunds, Tax return, Tax returns, Taxes, Taxfile, Tulse Hill/by TaxfileHello; I’m Faiz Mazloumiar. I have been working for Taxfile since May 2005, mostly doing tax returns for subcontractors, self-employed individuals, partnerships and landlords. I specialise in helping clients who, for whatever reason, have fallen behind in their tax affairs, assisting in making disclosures to HMRC whilst trying to minimise the penalties imposed on them […]
Are you self employed? Advice from Taxfile
/in 2021, 2022, Accountancy, Accountants, Accounts, Advice, Class 2 NICs, Dulwich, expenses, National Insurance, South London, Tax returns, Tulse Hill/by TaxfileAre you self employed? If so, Joe from Taxfile has some quick advice for you: Class 2 National Insurance It is important to register for Class 2 National Insurance. A lot of people don’t have this set up correctly and, if not sorted, then it can greatly affect your pension in the future. Class 2 […]
PAYE, 2021/22 Tax Thresholds, Employment Allowance & P800s
/in 2021, 2022, Accountancy, Accountants, Accounts, Bookkeeping, Dulwich, Employment allowance, FreeAgent, Higher rate tax payers, Income tax, Limited companies, London, NI, NIC, NIC's, P800, Pay-as-you-earn, PAYE, Payroll, Personal allowance, Sage, Software packages, South London, Tax, Tax accountants, Tax advice, Tax advisers, Tax bands, tax rebates, Tax refunds, Taxfile, Tulse Hill, VAT, Xero/by TaxfileMy name is Daniel and I have been a part of the Taxfile family since 2007. It started as a part-time job doing bookkeeping, but as time went on, I developed new abilities and a deeper understanding of the tax world. PAYE, VAT, and Company Register are now my areas of expertise. I understand how […]
Peace of Mind from Using an Experienced Tax Team
/in 2021, Accountancy, Accountants, Accounts, Advice, Bookkeeping, HMRC, Income tax, London, Self-assessment, SME, Sole traders, South London, Tax accountant, Tax accountants, Tax advice, Tax advisers, Tax agents, tax experts, Tax return, Tax returns, Taxes, Taxfile, Tulse Hill/by TaxfileWhen using Taxfile, you are using an experienced team that will make dealing with your tax affairs seamless. A lot of clients start by coming into our office stressed and overwhelmed, not knowing where to start. Using your current position and needs, we plan a step-by-step approach to keep you on top of your affairs […]
EU VAT – The BREXIT Effect
/in 2021, Accountancy, Accountants, Accounts, Brexit, e-Commerce, One Stop Shop, Trading with the EU, Value Added Tax, VAT/by TaxfileChanges in EU VAT is incoming from 1st July 2021 for Business to Customer (B2C) sales for those operating within the EU. The changes need to also be considered for businesses in the UK, post-Brexit, that wish to sell online directly to the customer.
The new EU VAT E-commerce package is comprised of two key components;
It is not compulsory to report VAT using either of these methods, the option is still available to register for VAT in each EU country you wish to do trade with and account and pay VAT in each of those territories. However, reading that, you would wonder why you would take on such a task, when you can just do one VAT return, where the liabilities are then paid to each country where the B2C transaction occurred. However, importantly, these 2 methods can only be used for