ACFA is a certified digital modern cloud accountancy practice that focuses on compliance and strategy.
“Tactics is knowing what to do when there is something to do; Strategy is knowing what to do when there is nothing to do.”
– Savielly Tartakower
Let's Get Started On Your Journey to a Brighter future
“When we speak to clients the most common goals we hear are centred around having more time to explore the world, more time with loved ones and of course, pay less taxes!”
"We exist to help clients bring their visions to life; with high quality knowledge, support and expertise.."
The most common Self Assessment mistakes
How to make your Self Assessment tax filings much easier by avoiding these common pitfalls.
Tax guides and articles
Most frequent questions and answers
How to do a personal tax return
A lot depends on the type of tax return you need to file. The more reliefs you’re claiming for the more complicated your return will be, making it harder to do it on your own. For example, if you’re self-employed and become pregnant, you may start claiming the Maternity Allowance which will affect the calculations.
What tax free allowances do you have ?
There are a number of tax-free allowances in the UK and taking advantage of them can significantly increase your tax refund or reduce your tax bill.
Some of these allowances are applied automatically (meaning you won’t need to do anything to benefit form them), while others you’ll need to claim.
Making Tax Digital (MTD): What you need to know
Making Tax Digital (MTD) is HMRC’s initiative to revolutionise the UK tax system and “digitise” the annual Self Assessment tax return.
Many software providers are promoting MTD solutions and pushing newsletters on how to become compliant, but the reality is, 99% of the people don’t need to worry until 2023.
Sole trader vs Limited company: which one to choose ?
One of the most frequently asked questions on a daily basis. If you’re transitioning to working for yourself, then you need to choose between registering as a sole trader or setting up a limited company.
Each has its pros and cons and it’s worth spending time weighing up which one fits your needs.
How to pay tax on your foreign income
If you’re a UK resident for the current tax year and received foreign income, you’ll usually have to pay UK tax on this income.
How you do this is by filing a Self Assessment tax return – our certified accountants can help you do it 100% online.
What are the kinds of foreign income I’ll pay tax on?
Foreign income will be taxed the same way as any UK income. These types of income include:
- wages from overseas jobs
- rental income from overseas properties
- foreign investments and savings.
CIS deductions: which expenses can you claim ?
If you’re working under CIS (the Construction Industry Scheme), there’s are a tonne of CIS deductions you can use to increase your rebate:
1. Car and van expenses
You can claim transport in one of these two ways:
- do you use your car for work 75% of the time? Then you can claim 75% of leasing payments, fuel, car insurance, road tax, etc. Pretty good if you bought the van just for work.
- or you can simply use HMRC’s simplified expense rate called “the mileage allowance“: it starts at 45p a mile. Better if you owned the van already and if you drive for work often.