Starting a seasonal business? Here is what you need to know
Are you considering launching a seasonal business? If so, you are beginning an exciting journey that comes with its own set of unique challenges and…
Continue readingWelcome to the Orchard Accountants blog. This is our hub of information where we will detail company developments as well as provide news and insight into the ever-changing world of finances and accounting. If you read something which strikes to your interest, and you’d like to learn more about a particular topic or service we provide, don’t hesitate to get in touch with us today.
Earning between £100,000 and £150,000? Your tax return is changing
If you’re a high earner with between £100,000 and £150,000 in net adjusted income, you’ll soon receive a letter from HM Revenue & Customs (HMRC)…
Continue readingFurnished residential lets vs Furnished Holiday Lets – The tax situation
If you’ve invested in a property to let and furnished it, you will be liable to pay tax on the income you receive from letting…
Continue readingConcerned about Capital Gains Tax changes? Here’s what you need to know.
The start of the 2024/25 financial year saw the Capital Gains Tax (CGT) Annual Exempt Amount fall to a historic low of £3,000, down from…
Continue readingEverything you need to know about Patent Box
One of the main ways that the Government encourages the use and commercialisation of innovative intellectual property is through tax relief. (more…)
Continue readingThe rise of the higher rate taxpayer
The Government continues to freeze both the personal allowance and the higher-rate income tax thresholds – leading to an increase in the number of higher-rate…
Continue readingPreparing for the second payment on account – and what happens when you can’t pay?
If you are a Self-Assessment taxpayer, it is almost time to make your second ‘payment on account’ – advance payments towards your tax bill. Those…
Continue readingThe most common VAT filing mistakes – and why MTD is the solution!
If your business has a turnover of £90,000 or more and sells products or services subject to VAT, then you must register to pay it…
Continue readingHMRC has clarified tax rules on commuting for hybrid and remote workers
In a recent statement, HM Revenue & Customs (HMRC) has clarified travel from an employee’s home to their base office under a hybrid working arrangement…
Continue readingMaking Tax Digital for Income Tax-Self Assessment Easier For Landlords
Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) represents a significant shift in how individuals, including landlords, must report their income and manage their…
Continue reading