TAKS Limited

TAKS Limited Helping UK businesses manage their Accounting and Taxes

📣 We are now ready to begin preparing and submitting your Self-Assessment tax return for the period 6 April 2025 to 5 Ap...
23/06/2026

📣 We are now ready to begin preparing and submitting your Self-Assessment tax return for the period 6 April 2025 to 5 April 2026.

To get started, please complete our TAX PREPARATION FORM using the link below:
https://localaccountantsbristol.co.uk/client-zone/

Once on the page, click on TAX PREPARATION FORM and enter the password: TAKS

Please only complete the sections relevant to you—any sections that do not apply can be left blank.

Once we receive your completed form, we will review your information and contact you with the next steps.

If you have any questions or need assistance, please email us at [email protected]

We look forward to working with you.

Do you know how to claim Tax Relief on your Work Expenses?If you’re employed (PAYE), you might be paying for certain job...
15/06/2026

Do you know how to claim Tax Relief on your Work Expenses?

If you’re employed (PAYE), you might be paying for certain job-related costs yourself without realising you could claim some of that money back. Even modest annual claims can quickly add up, especially where professional memberships, travel, or job-specific costs are involved. Many professionals regularly miss out simply because they assume it’s not worth claiming.

Here’s a simple guide 👇

✅ You may be able to claim for:
• Professional subscriptions required for your job
• Travel between workplaces (not your normal commute)
• Working from home allowance (£6 per week or actual costs)
• Uniforms, PPE, or required work clothing maintenance
• Certain tools or equipment needed for your role

❎ You usually can’t claim for:
• Travel from home to your usual workplace
• Everyday clothing
• Food, coffee, or general living costs
• Rent or mortgage

How it works:
You don’t get the full amount back — you get tax relief based on your tax rate:
• Basic rate (20%) → £100 expense = £20 back
• Higher rate (40%) → £100 expense = £40

Example:
Spend £600 on eligible work expenses:
• Basic rate taxpayer → £120 refund
• Higher rate taxpayer → £240 refund

📌 Worth knowing:
It usually becomes worthwhile if your total eligible expenses are around £500+ per year, especially if you’re a higher rate taxpayer.
Many employees miss out simply because they don’t know they can claim.

If you’re unsure, it’s always worth checking what applies to your situation — you can email us at [email protected] to arrange a quick call to review your position.

Protect your exit value !If you are currently building digital assets and want clarity on how your ownership structure a...
11/06/2026

Protect your exit value !

If you are currently building digital assets and want clarity on how your ownership structure and tax treatment will impact your eventual exit value, let’s review your position before it's too late.

📧 Connect with us at [email protected]

We are no longer just investing in traditional brick-and-mortar property. Today, savvy entrepreneurs are scaling digital property estates—websites, online businesses, and digital brands.

When structured correctly, they deliver:

🔁 Reliable, recurring income

📈 Substantial capital growth

🌍 Seamless global scalability

But a hidden financial layer catches most founders completely off guard…

❓ The Question We Ask Too Late

“How will this asset be treated by the taxman when I step away?”

At the point of sale, everything is heavily scrutinised:

🏗️ Ownership Structure: Dictates your ultimate payout.

📁 Historical Bookkeeping: Must be flawless for due diligence.

⚖️ Tax Treatment: Can drastically reduce the net wealth you actually keep for your next chapter, your family, or your legacy.

Many only think about exit planning when an offer is already on the table. By then, your structure is locked in. Restructuring under pressure is stressful and rarely yields the best financial outcome.

🔁 Income Today vs. Exit Tomorrow

The revenue your asset generates month-to-month is trading income (ads, affiliates, subscriptions), subject to Income or Corporation Tax.

But when you sell the asset itself, you enter a completely different regime: Capital Gains Tax (CGT).

Because these two worlds do not behave the same way, the exact same digital asset can yield a vastly different financial return depending purely on your foresight, your structure, and your early planning (such as qualifying for Business Asset Disposal Relief).

When a client comes to us, they’re usually feeling stressed or overwhelmed.Often they’ve received a letter from HMRC, or...
08/06/2026

When a client comes to us, they’re usually feeling stressed or overwhelmed.

Often they’ve received a letter from HMRC, or they know something isn’t quite right with their tax position, and they’re not sure what to do next.

Our job is simple: understand what’s happened and guide you towards the best possible outcome.

We always start with aranging a conversation. We take the time to listen, ask the right questions, and build a clear picture before making any recommendations.

Then we give you an honest view of where you stand — whether HMRC’s position is correct, where there may be grounds to challenge it, and what your realistic options are.

Once we’re have the basucs on the case, we take it from there. We deal directly with HMRC on your behalf, negotiate where appropriate, and explore all available routes — from settlement discussions to Alternative Dispute Resolution and, if needed, tribunal.

And it doesn’t end there. We also help you understand what’s happened and put steps in place to help reduce the risk of similar issues in the future.

If you’re facing an HMRC investigation or dispute, send us a message — we’re here to help.
[email protected]

Property Sale Taxation for IndividualsSelling a property? Make sure you understand your Capital Gains Tax obligations an...
04/06/2026

Property Sale Taxation for Individuals

Selling a property? Make sure you understand your Capital Gains Tax obligations and available reliefs.

At Taks Limited, we provide expert guidance on:

✅ Capital Gains Tax Calculations
✅ Private Residence Relief Calculations
✅ Reporting Capital Gains within 60 Days
✅ Sale of Foreign Property
✅ Temporary Non-Residence Rules
✅ Non-UK Resident UK Property Sales
✅ Trust Registration & Tax Services

Whether you're selling a second home, rental property, inherited property, or overseas asset, our experienced team can help you stay compliant with HMRC requirements while ensuring you claim all available reliefs.

📞 Contact Taks Limited today for professional property sale taxation advice tailored to your circumstances.

Most of the clients I speak to think that once they become non-UK resident, any gains or dividends received while abroad...
02/06/2026

Most of the clients I speak to think that once they become non-UK resident, any gains or dividends received while abroad automatically fall outside the scope of UK tax.

Unfortunately, it's not always that simple.

The UK's Temporary Non-Residence (TNR) rules are specifically designed to prevent individuals from leaving the UK, realising significant gains or extracting profits, and then returning after a short period overseas.

A key point many overlook is the five complete tax year rule.
For example, if you leave the UK, sell shares and realise a £1.8 million gain while non-resident, then return within five complete tax years, HMRC can bring that gain back into charge in the tax year you return.

The Autumn Budget 2025 has also tightened the rules around close company dividends. The legislation now focuses on when the underlying profits were generated, rather than simply when the dividend was paid.

For business owners, entrepreneurs and shareholders considering a move overseas, understanding these rules is critical before implementing any tax planning strategy.

A period of non-residence may still create planning opportunities, but only where the arrangements are properly structured and the UK residence rules are carefully considered.

If you're considering moving abroad, disposing of a business, or extracting profits from your company, get in touch. We can help you understand the tax implications and ensure your plans are structured as efficiently as possible.

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HMRC Tax Tip : Make Sure Your Numbers Can Explain Themselves HMRC has signed a 10-year AI deal with the goal to...
01/06/2026

HMRC Tax Tip :
Make Sure Your Numbers Can Explain Themselves

HMRC has signed a 10-year AI deal with the goal to connect billions of data points across HMRC's systems and identify patterns in VAT fraud, payroll irregularities, shell company structures, unusual director networks, and transaction chains that would be difficult for human investigators to spot alone.

What's notable is that the AI operates within HMRC's secure environment, with HMRC remaining the data controller and human oversight required for decisions.

So what does this mean for SMEs?

✅ If HMRC ever asks questions about your accounts, could you clearly explain how every figure was calculated?

✅ Can you trace transactions back to source documents quickly and confidently?

✅ Do your accounting processes provide a clear audit trail?
If the answer is yes, you're in a strong position.

If not, now is a good time to review your bookkeeping, record-keeping, and financial controls.
As HMRC adopts more advanced technology, the businesses that will sleep easiest are those with accurate records, robust systems, and transparent processes.
HMRC's AI will be looking for patterns. Make sure your records tell a clear story.

Side Hustle? Selling Online? HMRC Is Paying Attention 👀Whether you sell on eBay, Vinted, Etsy, TikTok Shop, or do freela...
28/05/2026

Side Hustle? Selling Online? HMRC Is Paying Attention 👀

Whether you sell on eBay, Vinted, Etsy, TikTok Shop, or do freelance work on the side — you may need to declare the income to HMRC.

Many people still think:
❌ “It’s just a hobby”
❌ “It’s only online sales”
❌ “HMRC won’t know”

But digital platforms are now sharing seller information directly with HMRC under new reporting rules.

📌 If you regularly make profit, it could count as taxable income.
📌 Keeping proper records now can save penalties later.
📌 A quick review today could prevent a big surprise tomorrow.

If you're unsure whether you need to register as self-employed or file a tax return, now is the time to check, contact us on [email protected]

⚠️ Remain Vigilant Against Misleading Payment Requests ⚠️Companies House and the Intellectual Property Office (IPO) are ...
22/05/2026

⚠️ Remain Vigilant Against Misleading Payment Requests ⚠️

Companies House and the Intellectual Property Office (IPO) are urging businesses to remain alert to misleading payment requests from organisations that are not affiliated with the government.

These requests often appear as invoices sent by post or email and may ask businesses to pay highly inflated fees for services that are either available directly from Companies House or the IPO at a much lower cost — or even free of charge.

Common requests include:

❌ Setting up or claiming a Companies House online account
❌ Authenticating a Companies House account or verifying company details
❌ Renewing trade marks or adding them to “exclusive online registers”

Before making any payment:

✔️ Check website and email addresses carefully — official services are provided through GOV.UK
✔️ Look out for disclaimers stating the organisation is not affiliated with government
✔️ Contact Companies House, the IPO, or your accountant if you are unsure

While there are legitimate third-party providers offering business support services, it is important to understand exactly what you are paying for before proceeding.

Staying alert can help protect your business from unnecessary costs and potential scams.

Address

160 Aztec West
Bristol
BS324TU

Opening Hours

Monday 9am - 6pm
Tuesday 9am - 6pm
Wednesday 9am - 6pm
Thursday 9am - 6pm
Friday 9am - 6pm

Telephone

+441172565052

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