If you’re a contractor or subcontractor working in the building trade, the VAT Domestic Reverse Charge (DRC) is one of those rules that causes more head-scratching than almost any other. The truth is, it doesn’t change how much VAT is ultimately due - it changes who pays it over to HMRC. But getting it wrong on your invoices can lead to errors, cash flow surprises, and unwanted attention from HMRC. This guide continues our series of simple explainers designed to help you navi

For many UK landlords, owning rental properties personally used to be the obvious choice. But tax changes introduced over the last few years - especially around mortgage interest relief - have led more landlords to consider purchasing or holding buy-to-let properties through a limited company instead. While a limited company structure is not right for everyone, it can offer significant advantages in the right circumstances. Here are some of the key benefits landlords should u

If you’re self-employed, a landlord, or earning income outside of PAYE, then filing your annual Self Assessment Tax Return is part of the deal. But here’s the reality: most people leave it until the last minute. At ASBA Accounting, we see the same pattern every year - January panic, rushed submissions, and unnecessary stress. The truth is, completing your Tax Return early isn’t just about being organised… it can actually save you time, money, and headaches. Let’s break down w

The Chancellor delivered the Autumn Budget today against a backdrop of stubborn inflation, rising borrowing costs, and pressure on public finances. While the headlines focus on raising revenue, the real question for our clients is simple: how will these changes affect your take-home pay, your business, and your future tax planning?

Capital Gains Tax (CGT) is one of those areas of tax that often catches people by surprise. Whether you’re selling property, shares, or other valuable assets, it’s important to understand how CGT works, when it applies, and what you need to do to stay compliant with HMRC. This guide follows on from our recent posts on Making Tax Digital for ITSA and Payments on Account, continuing our series of simple explainers designed to help you navigate the UK tax system with confidence

July can often bring confusion and surprise for UK taxpayers dealing with payments on account. Following on from our recent blog post on Making Tax Digital for Income Tax Self-Assessment and what that will mean for you as a Self Assessment tax payer, this next guide in our series we'll clearly explain what payments on account are, who needs to make these payments, how they're calculated, and provide straightforward worked examples to make it simple to understand. Read on to f

Prepare for HMRC's Making Tax Digital for Income Tax Self-Assessment (MTD-ITSA). ASBA Accounting offers expert accountancy support for landlords and self-employed individuals needing help with Self-Assessment Tax Returns in Crawley.

Filing a Self-Assessment Tax Return is crucial for self-employed individuals, small businesses, and freelancers, ensuring compliance with HM Revenue and Customs (HMRC). Understanding this process helps avoid unnecessary stress, penalties, and late fees. 📁 Who Needs to File? If you're self-employed and your earnings exceed £1,000 annually, you must complete a Self-Assessment Tax Return. This requirement also applies to individuals with income from renting properties, receivin