HMRC is changing the way some sole traders and landlords need to report their income and expenses. The changes will impact sole traders and landlords whose combined self-employment and property income exceeds £50,000 on their Self-Assessment Tax Return for the 2024/25 tax year – this threshold refers
Read more →Earlier today, chancellor Rachel Reeves delivered her Spring Statement, setting out the government’s plans against a backdrop of growing global uncertainty. It was encouraging to see no new tax increases for businesses announced today – a welcome decision, particularly given the already confirmed changes taking effect from
Read more →Champion Round-Up | By Ged Cosgrove, group managing partner On 30th October, Labour’s new chancellor of the exchequer, Rachel Reeves, unveiled the party’s first Budget since 2010. In her much-anticipated speech, Ms. Reeves outlined sweeping changes to the tax regime and public spending. Promising substantial investment to
Read more →It’s the season of giving and, if you’re a business owner, it’s a season of teambuilding and customer appreciation, too. The festive season presents the ideal time for your business to take stock of the past year. You might be celebrating a recent team expansion or market
Read more →If you’re a business owner, then you know that pennies make pounds, and you’ll be fully aware of how important it is to take advantage of reliefs and savings to help make your cashflow work. One handy source of yearly tax relief – which may or may
Read more →Rachel Reeves, the new Labour Government Chancellor of the Exchequer, presented the Party’s first Budget since 2010 – making history as the UK’s first female Chancellor. She expressed hope that her role will encourage further strides toward gender equity. Her Budget speech, which ran over 90 minutes,
Read more →In its first Budget since coming to power, and the first Labour Budget in more than 14 years, the new government has communicated its intent to address a “£22 billion black hole” with a raft of “painful” yet necessary changes to the tax regime. Dale Swift, senior
Read more →In this year’s Spring Budget, the government announced it would be scrapping the existing furnished holiday lettings (FHLs) tax regime. A new measure, which will introduce specific tax treatment and separate reporting requirements for furnished holiday lettings accommodation, will come into effect from April 2025. This is likely
Read more →In this recent article – https://www.championgroup.co.uk/managing-your-property-portfolio-when-less-is-more/ – we discussed how a large property portfolio could result in less profitability than one that is strategically streamlined. If you decide to sell property assets, you’re likely to be considering which properties to retain and which to offload. Champion Accountants
Read more →Long considered a safe bet for financial stability, a sound investment choice, and a reliable source of income, the challenges of building and managing a property portfolio have grown considerably in recent years. In the not-too-distant past, more was considered to be better, and a bigger property
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