An updated briefing which looks at how HMRC deals with wealthy individuals has been published. The briefing looks at helping wealthy individuals to comply with their tax obligations and also what
Collecting tax from wealthy taxpayers Read More »
Tax relief may be available for post-cessation expenses of a trade. In order to be an allowable post-cessation expense, the trade must have ceased, and the expense must have been deductible in
Post-cessation receipts and expenses Read More »
The rent-a-room scheme is 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 current tax year do not
The Rent a Room Scheme Read More »
If you inherit property, you are usually not liable to pay tax on the inheritance. This is because any Inheritance Tax (IHT) due should be paid out of the deceased’s estate before any cash or assets
Tax on property you inherit Read More »
Have you considered any last-minute planning options if your company has a 31 December 2022 year-end date?
It is not too late to consider your options. For example:
Expenditure on qualifying plant
Companies with 31 December year-end date Read More »
Don’t forget to take advantage of tax-free trivial benefits before Christmas. If you are an employer and looking to give your employees a small token of appreciation for Christmas, then your best
Don’t forget those trivial benefits Read More »
Time is running out to claim the super-deduction offering 130% first-year tax relief. The deduction is available to companies until March 2023. The super-deduction was designed to help incorporated
Super-deductions finish March 2023 Read More »
There are special rules that determine the recoverability of pre-trading VAT costs. Pre-trading VAT costs describe VAT that was incurred before a business registered for VAT and is known as
Claiming back pre-trading VAT costs Read More »
A salary sacrifice arrangement is an agreement to reduce an employee’s entitlement to pay, usually in return for a non-cash benefit. The tax and NIC advantages of certain benefits provided as part of
What is a salary sacrifice? Read More »
The planned increases in Corporation Tax (CT) rates from April 2023 are now proceeding as originally announced.
The Corporation Tax main rate will increase to 25% from 1 April 2023 for companies with
25% Corporation Tax from April 2023 Read More »