Category: FAQ
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What Is SA105 Form? UK Property Income and Self Assessment Explained
If you receive income from property in the UK, you may need to tell HMRC about it through Self Assessment, and one of the forms you are likely to come across is the SA105 form. The name can make it sound more complicated than it really is, because SA105 is simply the property section of…
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SA103S or SA103F: Which Self-Employment Form Do You Need?
If you are self-employed in the UK and complete a Self Assessment tax return, you may come across two forms called SA103S and SA103F. Both are used to report self-employed income and expenses to HMRC, but they are designed for different types of businesses. The names can make them sound more complicated than they really…
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How to do tax return myself – 2026 guide
Can I Do Tax Return Myself? Yes, you can do your own tax return in the UK if you are confident that you understand the rules and your tax affairs are relatively straightforward. HMRC provides an online Self Assessment service that allows you to complete and submit your return yourself. Many people successfully file their…
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What Is UTR Number?
A Unique Taxpayer Reference (UTR) is a 10-digit number issued by HMRC to identify you for tax purposes. If you need to complete a Self Assessment tax return, register as self-employed, or run certain types of businesses, your UTR is one of the most important numbers you will have. Your UTR normally stays with you…
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How to Reactivate My UTR Number in the UK
If your Self Assessment record has been closed by HMRC, you usually do not need a new UTR number. In most cases, your original Unique Taxpayer Reference (UTR) stays with you for life, but your Self Assessment account may become inactive if HMRC decides you no longer need to file tax returns. If you become…
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Property allowance UK – 2026/27 guide
Is the 1000 property allowance per property or per person? If you earn rental income in the UK, the £1,000 property allowance is available per person, not per property. This means each individual can claim up to £1,000 of property allowance each tax year, regardless of how many properties they own. If your gross property…
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What are business losses?
Understanding how business losses work can help you avoid paying more tax than necessary and make better financial decisions while your business is growing. What Are Business Losses? A business loss happens when your allowable business expenses are higher than your business income during a tax year or accounting period. For example: Although making a…
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Can I use my personal vehicle for my own business?
Navigating the world of transportation and business expenses can sometimes feel incredibly confusing and overwhelming for many self-employed individuals who are just trying to understand the rules and do things the right way. Can I use my personal vehicle for my own business? When you first start out on your exciting entrepreneurial journey, one of…
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How Much Can I Claim for Using My Home for Business?
It depends on how you choose to calculate it. You can either claim a flat rate of up to £26 a month (if you work from home for 101 hours or more per month) using HMRC’s “simplified expenses”, or you can calculate the actual proportion of your household bills that are used for business. If…
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Can I put rental income in my wife’s name?
Yes, but only if your wife is legally entitled to that rental income. You cannot simply choose to put all of your rental income in your wife’s name to reduce tax. HMRC taxes rental income based on who actually owns the beneficial interest in the property, and there are special rules for married couples. If…