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6 Things to Know About Tax on Extra Income: Second Jobs, Freelance Work, & MoreWritten on October 5, 2026 by Jane Page
Whatever the source, extra income comes with tax responsibilities. Here are six key points to help you understand the rules. 1.The £1,000 Trading Allowance If your extra income totals £1,000 or less in a tax year, you can use the trading allowance. This means: You don’t need to register with HMRC for Self Assessment. You don’t […]
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Refurbishment Of Rental Properties – What Are The Tax Implications?Written on July 5, 2026 by Kirk Rice LLP
Key Points From April 2025, former furnished holiday lets are generally subject to the same refurbishment tax rules as other residential rental properties. Refurbishment costs for rental properties may be treated as either revenue or capital expenditure, depending on the nature of the work carried out. Repairs and maintenance are generally deductible from rental profits, […]
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Tax deductions for small business ownersWritten on June 30, 2026 by Kirk Rice LLP
Key points Understanding the tax deductions available to your business may help improve cash flow, reduce taxable profits, and support future investment. Capital allowances, pension contributions and everyday business expenses remain some of the most valuable areas to review. Eligibility depends on your business structure, the type of expenditure and the relevant tax rules. Accurate bookkeeping and proactive tax planning may […]
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The Pros and Cons of Business Structures: Sole Trader, Partnership, LLP, and Limited CompanyWritten on June 4, 2026 by Alex Moody
That choice can affect how much tax you pay, how much admin you need to deal with, and whether your personal assets are at risk if things go wrong. Currently, the main options most business owners consider are: sole trader partnership limited liability partnership (LLP) limited company Each has advantages and disadvantages, and the right […]
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Making Tax Digital for Income Tax: How It Works and Who It AffectsWritten on April 28, 2026 by Kirk Rice LLP
What is Making Tax Digital (MTD)? Making Tax Digital is a government plan to modernise the tax system by moving away from paper-based processes. It means you’ll need to: Keep digital tax records Use compatible software Send updates to HMRC online It’s being rolled out gradually, and different types of taxpayers will join at different […]
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Understanding Personal vs Business ProtectionWritten on April 16, 2026 by Lisa Smith
Key Points Personal and business protection are broad categories of insurance that aim to help manage financial risk, whether that relates to your household or your business. Personal protection, including life insurance, critical illness cover, and income protection, is designed to support your household if your income or health is impacted. Business protection focuses on […]
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Earning outside PAYE? What to be aware of in the next few yearsWritten on April 2, 2026 by Kirk Rice LLP
Key Points Income outside PAYE includes rental income, savings interest, and freelance or side earnings, all of which contribute to your overall tax position. Different income streams are combined when determining your tax band, which can affect how much tax you pay across all sources. Making Tax Digital will introduce new reporting requirements for self-employed […]
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Getting Ready for MTD: Bite-sized clipsWritten on December 22, 2025 by Kirk Rice LLP
If you’ve heard about Making Tax Digital (MTD) but aren’t quite sure what it means for you — or how income information is reported to HMRC under this new system — you’re not alone. Below we’ve outlined the basics. You’ll also find some handy bite-sized videos about how to get ready for MTD. In a […]
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Capital Gains Tax On UK Property And LandWritten on September 10, 2025 by Kirk Rice LLP
Capital Gains Tax 60-Day Reporting Explained Yes, there is, and quickly! Anyone who sells, gifts or otherwise transfers UK residential property or land on which a capital gain arises is required to report that gain to HMRC within 60 days from the date of completion, and pay the capital gains tax liability arising by the […]
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Making Tax Digital (MTD) for Income Tax – WebinarWritten on September 3, 2025 by Kirk Rice LLP
Download & listen to the podcast version here: Kirk Rice MTD Podcast What the webinar covers The session explains what MTD is, who it applies to, when the new rules take effect, and how you can prepare for them. Meet the speakers Hosted by Sarah Newell, the panel features three Kirk Rice experts: Hadley […]
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Corporate tax planning: what it is, why it matters, and how it can support your businessWritten on October 14, 2026 by Kirk Rice LLP
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VAT Compliance: What Every SME Should KnowWritten on October 7, 2026 by Jonathan Swarbrick
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6 Things to Know About Tax on Extra Income: Second Jobs, Freelance Work, & MoreWritten on October 5, 2026 by Jane Page
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Business Valuation – Where Do I Start?Written on October 2, 2026 by Kirk Rice LLP
