Author Archives: Priya Raja-Motala

Small Business Strategy

A recent survey by the Federation of Small Business (FSB) states that almost 50% of their businesses will face stagnation in growth due rising costs of operation.  As a business you need to review your risks and your small business strategy. Against the background of soaring inflation, the war in Ukraine, global supply chain problems, […]

Letting out your property as a holiday let?

The pandemic is said to bring a few behavioural changes.  Working from home including “blended working” is one such example and letting out your property as a holiday let may be another one. During the later part of 2021 many councils in the tourist areas of the country were experiencing significant rises is housing waiting […]

Is it a repair or improvement ?

The most common question we deal with when preparing accounts for landlords is “is it a repair or improvement”?   It can often be difficult to distinguish between repairs and improvements. However, it’s extremely important to report them correctly for tax purposes. Repairs are often referred to as revenue expenditure and improvements as capital expenditure. […]

Capital or Revenue Expenditure

Knowing whether business expenditure is capital or revenue is essential to the preparation of correct accounts and tax returns, but it is sometimes difficult to decide what is the right treatment. HM Revenue and Customs (HMRC) has recently updated its guidance on the most common errors. First the basics: revenue expenditure is deductible in computing […]

The Ups and Downs of Tax

We are now in the new tax year 2022-2023 which started on 6th April 2022.  Did you know the chosen year end of 5th April was first introduced in 1752? Back then the new tax year started on 25th March and ended after full 365 days which would be on 4th April. But in 1800 […]

How can I avoid insolvency

The UK is one of the best places to do business in the world.  Yet the current economic conditions of high inflation and problems with resources has meant there is a chance you may be thinking of your business right now and asking the question “how can I avoid insolvency?” You are probably involved in […]

Divorce and Tax

Whilst tax is unlikely to be at the top of your list of important issues if you decide to separate, the potential benefits which could arise from prudent tax planning can ensure that both parties do not have unexpected and unwanted tax charges. This is particularly relevant for Capital Gains Tax (“CGT”), which, in reality, […]

How to stay positive in uncertain times in the workplace

This is the big question of the day. How to stay positive in these uncertain times especially when it comes to the workplace. Not only have we had a global pandemic for two years, but we also have political upheavals around the globe, an all-out war on European soil and new stories everyday about rising […]

VAT Registered but not yet filing under MTD?

It’s not long to go before 1st April 2022.  What is the relevance of this date you ask? This is the date MTD comes into play if you are a VAT Registered business but not yet filing under MTD.   What is MTD? Making Tax Digital (MTD) is HM Revenue & Customs plan to digitise […]