Tax Space

Tax Space At Tax Space ®, we make accounting simple and stress-free for startups & small businesses.

By streamlining your finances, we save you time and help your business grow. Focus on your passion—we’ll handle the numbers!
📞 Book your free consultation today!

21/06/2026

⭐⭐⭐⭐⭐ Another happy client!
Thank you for your trust and kind words. Helping our clients achieve peace of mind with their taxes is what we do best.
📩 Need help with your taxes or accounting? Get in touch today.
SelfEmployedUK SmallBusinessUK BookkeepingUK LtdCompany UKBusiness

07/06/2026

🚨 Has Your Business Reached the VAT Threshold? Don't Let HMRC Catch You Out!

If your business turnover has reached £90,000 in any rolling 12-month period, you may be required to register for VAT with HMRC.

⚠️ Many business owners make the mistake of thinking the VAT threshold is based on their tax year or accounting year. It isn't.

Here's what happens when you register for VAT:

✅ Reclaim VAT on eligible business expenses such as advertising, software subscriptions, equipment, and professional services
✅ Enhance your business credibility with suppliers and larger clients

❌ Charge VAT on your products or services
❌ Submit VAT returns to HMRC regularly
💡 In some cases, voluntary VAT registration can actually improve cash flow and reduce costs, especially if your business has significant expenses.
This is particularly relevant for:
• Content Creators
• Influencers
• TikTok Shop Sellers
• E-commerce Businesses
• Digital Agencies
• Freelancers

💬 Not sure whether you need to register for VAT?
Comment "CHAT" below, and we'll contact you directly to discuss your situation and answer your questions.

📧 Need professional advice? Contact us at [email protected]
This post is for general information only and does not constitute tax advice.

07/06/2026

🚨 Has Your Business Reached the VAT Threshold? Don't Let HMRC Catch You Out!

If your business turnover has reached £90,000 in any rolling 12-month period, you may be required to register for VAT with HMRC.

⚠️ Many business owners make the mistake of thinking the VAT threshold is based on their tax year or accounting year. It isn't.
Here's what happens when you register for VAT:

✅ Reclaim VAT on eligible business expenses such as advertising, software subscriptions, equipment, and professional services
✅ Enhance your business credibility with suppliers and larger clients

❌ Charge VAT on your products or services
❌ Submit VAT returns to HMRC regularly

💡 In some cases, voluntary VAT registration can actually
improve cash flow and reduce costs, especially if your business has significant expenses.

This is particularly relevant for:
• Content Creators
• Influencers
• TikTok Shop Sellers
• E-commerce Businesses
• Digital Agencies
• Freelancers

💬 Not sure whether you need to register for VAT?
Comment "CHAT" below, and we'll contact you directly to discuss your situation and answer your questions.

📧 Need professional advice? Contact us at [email protected]
This post is for general information only and does not constitute tax advice.

03/05/2026

🇬🇧 UK State Pension & National Insurance – key facts you should know

✅ Important for those receiving the State Pension:
You do NOT pay National Insurance contributions on your State Pension. NI is only charged on income from work (employment or self-employment).
However, your State Pension IS considered income and counts toward your total yearly earnings. If your total income exceeds the personal allowance (£12,570), part of your pension may be taxable.

❗️ To receive the full UK State Pension, you usually need 35 qualifying years of National Insurance contributions.
Got fewer years? It’s worth checking – you can often fill gaps by making voluntary contributions.
🔎 How to check?
Log in to your HMRC account (Government Gateway), verify your identity, and check your State Pension forecast.
💬 If you’d like help, just comment “Contact”
💼 Need an accountant, tax return, or help with your pension / NI contributions? Get in touch.

26/04/2026

❤️ Love + Taxes = More Money in Your Pocket? Yes, it’s possible in the UK!

Did you know that being in a formal relationship (marriage or civil partnership) isn’t just about romance — it also comes with real tax benefits in 2026?

Here are 4 ways couples can legally pay less tax:

1️⃣ Marriage Allowance
If one of you earns below £12,570 and the other is a basic rate taxpayer, you can transfer £1,260 of tax-free allowance. Result? Up to £252 less tax per year!

2️⃣ Double Capital Gains Tax (CGT) Allowance
Selling shares, a second property or investments? Each of you has your own £3,000 CGT-free allowance. Transferring assets to your partner before selling lets you use two allowances instead of one.

3️⃣ Shifting Income & Savings
You can transfer money, shares or property between you with no gift tax. It often makes sense to put savings or rental income in the name of the lower earner — so you pay less tax (or none at all).

4️⃣ Inheritance Tax-Free Transfer
Assets passed between spouses or civil partners are usually completely exempt from Inheritance Tax. One of the biggest financial protections for couples in the UK.
Love really does pay — especially when you plan your finances together 💰

Important: This is general information only and not personal tax advice. Every situation is different — always consult your own accountant or tax adviser before taking any action.

Looking for a reliable accountant who can handle couples’ tax planning, optimisation and MTD ITSA for you?
Write CONTACT in the comments – I’ll get in touch with more information.
Don’t leave it until the last minute – the sooner you prepare, the easier it will be!

HMRC compliance doesn’t have to be a headache.Stop chasing receipts. Start chasing goals.Tax season shouldn't feel like ...
24/04/2026

HMRC compliance doesn’t have to be a headache.

Stop chasing receipts. Start chasing goals.

Tax season shouldn't feel like a countdown to a crisis. ☕📉
In 2026, the speed of business in the UK is faster than ever. If you’re still spending your weekends wrestling with spreadsheets and HMRC portals, you’re losing more than just time—you’re losing the energy to grow your business.
At Tax Space Ltd, we don’t just “do the books.” We provide clear, real-time financial insight so you can focus on growing your business instead of managing paperwork.
We help UK business owners stay compliant, tax-efficient, and fully in control of their numbers.

✅ Real-time financial clarity
✅ HMRC compliance made simple
✅ Smarter tax efficiency strategies

Ready to remove the stress from your finances? 🚀
Drop us a message to get started today.

🚨 MTD ITSA is now LIVE (since 6 April 2026)If your self-employment or rental income is over £50,000, this now applies to...
18/04/2026

🚨 MTD ITSA is now LIVE (since 6 April 2026)
If your self-employment or rental income is over £50,000, this now applies to you 👇

You must:

➡️ Keep digital records

➡️ Use MTD-compliant software

➡️ Submit quarterly updates (first deadline: 7 August 2026)

⚠️ Many sole traders & contractors (especially in construction) are not ready yet

Still using spreadsheets?

No proper system?

Not sure what to do next?

At Tax Space Ltd, we make it simple:

✅ QuickBooks & Zoho Books – fully MTD compliant
✅ CIS + MTD in one place
✅ We handle your quarterly updates
✅ Fixed monthly fee
✅ Polish & English support

⏳ Only a few months until the first deadline

👉 Comment “MTD” or send a message

and we’ll send you a FREE checklist:

“MTD ITSA 2026 – What You Need to Do Before 7 August”

🇵🇱 We speak Polish & English

📌 HOW INCOME TAX WORKS IN THE UK (2026/27) Many people in the UK think: “the more I earn, the more I keep.”In reality, a...
15/04/2026

📌 HOW INCOME TAX WORKS IN THE UK (2026/27)

Many people in the UK think: “the more I earn, the more I keep.”
In reality, at higher income levels, you can actually lose more than you gain due to hidden thresholds and tax traps.

✅ Income Tax Bands (2026/27):
• £0 – £12,570 → 0% (Personal Allowance)
• £12,571 – £50,270 → 20% (Basic rate)
• £50,271 – £125,140 → 40% (Higher rate)
• £125,141+ → 45% (Additional rate)

⚠️ Hidden tax traps most people ignore:
• £60,000 → Child Benefit starts being taken away (fully lost by £80,000)
• £100,000 → Personal Allowance is reduced (£1 lost for every £2 earned over £100k) → creates an effective 60% tax rate
• £100,000+ → Loss of Tax-Free Childcare support
• £125,140+ → Personal Allowance = £0 + 45% tax rate

💡 Key takeaway:
Most people focus on earning more.
The most financially aware focus on how income is structured.

That’s where real, legal tax savings happen:
✔️ Salary + dividends
✔️ Pension contributions
✔️ Salary sacrifice
✔️ ISAs
✔️ Limited company structures

👉 Want to understand how to legally pay less tax in the UK based on your situation? Send me a message.

📌 JAK DZIAŁA PODATEK DOCHODOWY W UK w 2026/27 – prosty przewodnikWielu osób w Wielkiej Brytanii myśli: „im więcej zarabi...
15/04/2026

📌 JAK DZIAŁA PODATEK DOCHODOWY W UK w 2026/27 – prosty przewodnik

Wielu osób w Wielkiej Brytanii myśli: „im więcej zarabiam, tym więcej mi zostaje”.
W praktyce przy wyższych dochodach często tracisz więcej niż zyskujesz przez ukryte progi i „tax traps”.

✅ Aktualne progi podatkowe Income Tax:

• £0 – £12,570 → 0% (Tax free – Personal Allowance)
• £12,571 – £50,270 → 20% (Basic rate)
• £50,271 – £125,140 → 40% (Higher rate)
• £125,141+ → 45% (Additional rate)

⚠️ Ukryte progi i podatkowe pułapki, które większość osób pomija:

• £60,000 → Child Benefit zaczyna być zabierany (High Income Child Benefit Charge) – pełna utrata przy £80,000+

• £100,000 → Personal Allowance zaczyna się zmniejszać (£1 mniej na każde £2 ponad 100k) → tworzy efektywny 60% tax trap

• £100,000+ → Utrata prawa do Tax-Free Childcare (darmowego wsparcia na opiekę nad dziećmi)

• £125,140+ → Personal Allowance spada do zera + najwyższa stawka 45%

Najważniejsze wnioski:
Większość ludzi skupia się na tym, żeby zarabiać więcej.
Najlepsi (i najbogatsi) skupiają się na tym, jak dochód legalnie ustrukturyzować (salary + dividends, pension contributions, salary sacrifice, ISAs, spółka LTD itp.).
To właśnie tam są największe legalne oszczędności podatkowe.

📌 Important Changes to Statutory Sick Pay from April 2026.From 6 April 2026, Statutory Sick Pay (SSP) is payable from th...
11/04/2026

📌 Important Changes to Statutory Sick Pay from April 2026.

From 6 April 2026, Statutory Sick Pay (SSP) is payable from the first day of sickness – the 3 waiting days have been removed.
SSP now applies to all employees, regardless of earnings level.

Rate: £123.25 per week or 80% of average weekly earnings – whichever is lower.

Self-certification is enough for the first 7 days. A Fit Note is only required after that.

Got questions about how these changes affect your payroll or sickness absence?
Drop us a message: [email protected]

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