Personal Tax

Your personal Unique Tax Reference Number

Unique Tax Reference Number This is issued by HMRC when you register for self-assessment tax returns. You can only have one UTR number and it is important that you keep a record of this for reference. If you can’t find your number or believe you have not had one issued after registration for self assessment, then […]

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Rental Income from a property

Any rental income from a jointly owned property can be received as income by one or both owners in whatever split is agreed. Please discuss this with OZKAN if it applies to you. Rental income must be included as part of your personal tax return so make sure you give your accountant the details.

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Address changes

When you move house, or if your business moves to a new trading address, it is important that both OZKAN and HMRC are informed as soon as possible. This should be done in writing, or through your online services account. If you move abroad, it very important to inform HMRC of the new personal and trading […]

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Start-up losses can be relieved against the employment income

If you decide to start a start-up business while employed, you may be entitled to a tax refund if you make a loss. Many businesses make a loss in the first year, so employment can help to fund your business while you grow it and also to sustain yourself. HMRC allows self-employed people to offset […]

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