Stewart Accounting Blogs

Do you know who must register for VAT?

Businesses must register for VAT if their taxable turnover exceeds the VAT registration threshold, or if they expect it to exceed the threshold in certain circumstances.

The VAT registration

When does a hobby become a taxable business?

Not every hobby becomes a taxable business, but it is important to be aware when this can happen. This can apply even if you are making some money from your hobby. HMRC looks at a range of factors to

Could your business recover more VAT?

If your business is VAT registered, you can usually reclaim VAT on many of the goods and services you buy for business purposes. However, many businesses fail to claim everything to which they are

Is your spouse paying more tax than necessary?

Married couples and civil partners are taxed separately for Capital Gains Tax (CGT), meaning each person has their own annual tax position. However, with careful planning, transferring assets between

Could you claim tax relief for property repairs?

Property owners often incur costs for repairs, and understanding which costs can be deducted is important when calculating taxable property income.

You can generally claim tax relief for repairs

Are you maximising tax relief on company losses?

If your company makes a trading loss, it may be able to claim relief to reduce its Corporation Tax liability. Trading losses can often be used in different ways, depending on your company’s

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