Non-Dom

Navigating the Changing Landscape of UK Non-Domicile Taxation

The world of taxation is often a labyrinth of regulations and reforms, and for individuals navigating the UK’s non-domicile (non-dom) regime, recent changes bring both challenges and opportunities. As of April 2025, a new four-year residence-based regime will come into effect, reshaping the taxation landscape for non-UK residents. Let’s delve into the key points of this upcoming transformation: Timing Existing …

March 2024 BUDGET – What you need to know!

Overview These key points include measures that were announced previously but are about to come into force. Measures which have been announced but will not take effect during 2024 are listed separately below. Personal tax The main personal tax-free allowance (£12,570) and the 40% tax rate threshold (£50,270) remain frozen at their present levels until the end of 2027/28, representing …

Navigating Financial Uncertainty: Budgeting Tips for Individuals in the UK

In the face of economic uncertainties, mastering the art of budgeting becomes a paramount skill for individuals striving for financial stability. At AEL Markhams, we understand the challenges that many individuals are facing, and we are here to share practical budgeting tips tailored for navigating uncertain times in the UK. Embrace the Power of a Detailed Budget Creating a detailed …

Understanding the 40% Tax Bracket and Strategies for Efficiency

Celebrating pay rises, bonuses, and new clients is thrilling, but as success grows, the 40% tax bracket may loom. In this article, we’ll explore what the 40% tax bracket entails, the income threshold, and ways to optimise your tax situation. What is the 40% Tax Bracket? How much do I have to earn to be in the 40% tax bracket? …

Maximising Home Office Expenses for Sole Traders

Running a sole trader business from home comes with its perks, and one of them is the potential to claim tax relief on various home-working expenses. In this guide, we’ll walk you through what constitutes a working-from-home expense and the methods to calculate and claim these expenses against your tax bill. What Qualifies as a Working from Home Expense? When …

Unveiling the World of Holding Companies: A Comprehensive Guide

Introduction: Many businesses are born with the aim of offering specific products or bespoke services. However, there’s another type of company that exists solely to own or invest in other businesses, known as a ‘holding’ company. Contrary to common perception, holding companies aren’t exclusive to massive international organisations. This blog explores the intricacies of holding companies, how they operate, and …

Navigating Crowdfunding for Your Business: A Comprehensive Guide to Taxes

Navigating Crowdfunding for Your Business: A Comprehensive Guide to Taxes Introduction: Crowdfunding has become a prevalent method for raising funds, catering to diverse causes and serving as a popular choice for businesses seeking financial support for testing ideas and launching ventures. In this blog post, we will delve into how businesses utilise crowdfunding and the implications it holds for tax …

Navigating 2024: Top Financial Challenges for UK Businesses and Strategic Solutions

As we step into 2024, UK businesses find themselves amid an ever-evolving economic landscape, shaped by global events and market dynamics. Navigating these challenges requires a keen understanding of the potential financial hurdles that may arise. In this blog post, we’ll delve into the top financial challenges facing UK businesses this year and provide practical solutions to overcome them. Supply …

Creating a Comprehensive Start-up Budget: A Step-by-Step Guide

Embarking on a start-up journey is a thrilling endeavour, but the key to success often lies in a meticulously planned financial strategy. Crafting a thorough start-up budget serves as your navigational tool towards financial stability and growth. In this step-by-step guide, we’ll dissect the process of developing a start-up budget, delving into essential elements like fixed and variable costs, initial …

Unlocking Business Potential: A Guide to Different Types of Capital Allowances

When it comes to navigating the intricate world of business finances, understanding the various types of capital allowances is key. These allowances play a pivotal role in determining the tax relief a business can claim on certain expenditures, ultimately impacting its bottom line. In this comprehensive guide, we’ll explore the different types of capital allowances available in the UK and …