Clive CassNov 30, 20222 min readHow to account for construction retentionsWhen a client withholds part of the payment to be released once work has been fully completed, it is called retention. This is common in...
Clive CassNov 30, 20222 min readHow to claim your £1,000 property allowanceLandlords can get up to £1,000 in rental income tax-free every year under the Property Income Allowance. If you own a property with...
Clive CassNov 30, 20222 min readHow to account for a property management companyProperty management companies let properties they do not own and are responsible for their day-to-day operations and repairs. It is an...
Clive CassNov 30, 20222 min readDo you need a 5% VAT certificate for construction work?In the UK, the standard rate of VAT for most building services is 20%. However, a reduced 5% VAT rate can be charged for certain types of...
Clive CassNov 30, 20222 min readHow does the finance cost allowance work?Finance costs are any costs involved in borrowing money to purchase or build assets. Finance costs for residential landlords include...
Clive CassNov 30, 20222 min readHow to check if your supplier invoice is correct for input taxMany business owners have made the mistake of purchasing business supplies in their own name rather than the business’s name. Or if you...
Clive CassNov 30, 20222 min readHow to register for CISThe Construction Industry Scheme (CIS) is an HMRC initiative that outlines how subcontractors should be paid. Most businesses and workers...
Clive CassNov 30, 20222 min readCan I transfer my investment income to my spouse?The rules for income from assets jointly owned by married couples can be tricky. There are a few things to take into consideration in...
Clive CassNov 30, 20222 min readLetting conditions for Furnished Holiday LetsMany property owners opt to rent their property as a Furnished Holiday Letting (FHL). There are several benefits to FHLs including...
Clive CassNov 30, 20222 min readHow to complete a monthly CIS returnThe Construction Industry Scheme (CIS) is an HMRC scheme for workers in the construction sector. Contractors and businesses that employ...
Clive CassNov 30, 20222 min readHow to get a post-transaction valuation check (CG34)Post-transaction valuation checks (PTVC) are offered for free by HMRC. They review your valuations and work out your Capital Gains Tax...