The 2022-23 tax return filing deadline for taxpayers who continue to submit paper Self-Assessment returns is 31 October 2023. Late submission of a Self-Assessment return will incur a £100 late filing
Deadlines 2022-23 Self-Assessment tax return Read More »
HMRC must be informed when a non-trading or dormant company starts trading again and thus becomes active for Corporation Tax purposes. Companies can use HMRC Online Services to supply the relevant
Re-starting a dormant company Read More »
Do you know what business expenses you can and can’t deduct from your tax bill? We get lots of questions about this so here’s an overview of the sorts of expenses that are tax deductible for creative businesses. Sometimes how you’ve set up your business will determine what you can claim, so read on to
Which business expenses are deductible for UK creative businesses? Read More »
These legal agreements enable a person to grant decision making powers about their care, treatment or financial affairs to another person if they lose mental capacity.
The Powers of Attorney Act
Reforms to powers of attorney Read More »
Your eligible deposits with all High Street bank are covered by the Financial Services Compensation Scheme (FSCS).
The present limit of this FSCS guarantee is £85,000 and this applies to total
Bank deposits covered by FSCS Read More »
A quick check on Google shows that there are no fewer than 10 accountancy practices within a ¼ of a mile of our offices in Whetstone, North London. Such a choice should be a good thing for small creative businesses looking for help with their business finances, but sometimes too many options can result in
The basis of assessment reforms will change the way trading income is allocated to tax years. The changes will affect sole traders and partnerships that use an accounting date between 6 April and 30
Reporting self-employed profits 2023-24 Read More »
The Inheritance Tax residence nil rate band (RNRB) is a transferable allowance for married couples and civil partners (per person) when their main residence is passed down to a direct descendent, such
Transferring IHT unused nil rate band Read More »
The rent-a-room scheme is a set of special rules designed to help homeowners who rent-a-room in their home. If you are using this scheme, you should ensure that rents received from lodgers during the
When you can and cannot use the Rent-a-Room Scheme Read More »
The Certificate of Tax Deposit scheme allowed users to deposit money with HMRC and use it later to pay tax liabilities. The date that the certificate was purchased was known as the effective date of
Paying tax by Certificate of Tax Deposit Read More »