by Ekrem Duman | Jun 20, 2026 | Country Tax Guides, UK Tax
Accounting › Country Tax Guides › UK Tax ⚡ TL;DRStaying compliant means keeping the right records for the right length of time and meeting every key deadline. Individuals keep Self Assessment records for at least 22 months after the tax year (longer for...
by Ekrem Duman | Jun 20, 2026 | Country Tax Guides, UK Tax
Accounting › Country Tax Guides › UK Tax ⚡ TL;DRMaking Tax Digital for Income Tax (MTD for ITSA) requires self-employed people and landlords above set income levels to keep digital records and send HMRC quarterly updates through compatible software,...
by Ekrem Duman | Jun 20, 2026 | Country Tax Guides, UK Tax
Accounting › Country Tax Guides › UK Tax ⚡ TL;DRDouble taxation happens when two countries tax the same income. The UK relieves it through an extensive network of double-taxation treaties and through unilateral relief, typically by giving a credit for...
by Ekrem Duman | Jun 20, 2026 | Country Tax Guides, UK Tax
Accounting › Country Tax Guides › UK Tax ⚡ TL;DRWhether you pay UK tax on your worldwide income depends on tax residence, determined by the Statutory Residence Test (SRT). The old ‘non-dom’ regime was abolished on 6 April 2025 and replaced by...
by Ekrem Duman | Jun 20, 2026 | Country Tax Guides, UK Tax
Accounting › Country Tax Guides › UK Tax ⚡ TL;DRHMRC can open an enquiry into any tax return to check it’s correct, and applies penalties for errors and late filing based on behaviour — higher for deliberate mistakes than careless ones, and higher...
by Ekrem Duman | Jun 20, 2026 | Country Tax Guides, UK Tax
Accounting › Country Tax Guides › UK Tax ⚡ TL;DRYou can reduce Inheritance Tax through gifts and reliefs: gifts become fully exempt if you survive seven years, with a £3,000 annual exemption and small-gift allowances on top. Business Relief and...
