Waltons blog

For over three decades, Wolviston Group Limited has placed its trust in Waltons Business Advisers to provide exceptional accountancy services. Throughout our long-standing relationship, Waltons has been instrumental in facilitating our business acquisitions, assisting...

For accounting periods starting after 6 April 2024, for sole traders or partners, the cash basis is the default way to work out your income and expenses in order to file your Self Assessment tax return.  This is a simplification method to aid the implementation of...

Abolition of Furnished Holiday Lettings Status (FHL’s) tax status.  What does this mean … and does this also impact Airbnb type lets?  In the last Budget, it was announced that the furnished holiday let regime will be abolished from 6 April 2025. A property qualifies...

FW Capital has launched its new £20 million Teesside Flexible Investment Fund. With investment from the Teesside Pension Fund, the £20 million Teesside Flexible Investment Fund aims to tackle identified funding gaps in the region, providing support with buying a...

An update on Making Tax Digital (MTD) for Income Tax Self Assessment (ITSA) ... (MTD for ITSA) The self-employed and landlords The mandatory use of MTD for ITSA compatible software is being phased in by H M Revenue & Customs for certain self-employed individuals...

Tax deductions that UK businesses can claim on eligible capital expenditure, such as machinery, equipment and property improvements. Capital allowances are a type of tax relief for businesses.  They let you deduct some or all of the value of an item from your profits...

HMRC can start an investigation, enquiry or check into your personal or business affairs at any time. A check, enquiry or investigation by H M Revenue and Customs into your business or personal affairs can happen to anyone, and can be costly, even if you’ve done...

Child Benefit: A reminder in relation to changes you may have previously made ... and which you may now wish to review. Child benefit was previously repaid (via a Tax Return) if one member of the household earned over £50,000 in a tax year.  The amount received was...

With Sir Keir Starmer’s new Government now in place … we await further details as to when the new Chancellor, Rachel Reeves, will deliver her first Budget announcement. We’ll keep you up to date in relation to any tax-related changes.   Please note: Our blog...