Back in May 2022, the then Chancellor Rishi Sunak announced a package of support measures targeted mainly to the most vulnerable members of society. One of the main measures was the Cost of Living
Second cost of living payment Read More »
The 2021-22 tax return deadline for taxpayers who continue to submit paper Self-Assessment returns is 31 October 2022. Late submission of a Self-Assessment return will become liable to a £100 late
Deadlines 2021-22 Self-Assessment tax return Read More »
Using the VAT Flat Rate scheme, businesses pay VAT as a fixed percentage of their VAT inclusive turnover. The actual percentage used depends on the type of business. The scheme has been designed to
VAT Flat Rate scheme Read More »
Usually, if you sell an asset for less than you paid for it you would make a capital loss. As a general rule if the asset would have been liable to CGT had a gain taken place then the loss should be
Utilising CGT losses prior to death of taxpayer Read More »
The Money Laundering Regulations (MLR) are designed to protect the UK financial system and put in place certain controls to prevent businesses being used for money laundering by criminals and
Unlawful estate agency businesses Read More »
The new Chancellor of the Exchequer, Jeremy Hunt, was only appointed on Friday 14 October 2022. However, following another turbulent weekend, the Chancellor made not one but two important statements
Chancellor statements – 17 October 2022 Read More »
The Prime Minister, Liz Truss delivered a hastily arranged press conference on Friday 14 October. At the press conference, the Prime Minister confirmed that she had sacked the Chancellor, Kwasi
Prime Minister’s statement – 14 October 2022 Read More »
The Trader Support Service was designed to help businesses moving goods under the Northern Ireland Protocol after the Brexit transition period came to an end. Under the Northern Ireland Protocol, all
NI Trader Support Service extended Read More »
The Making Tax Digital (MTD) for VAT regime started in April 2019 when businesses with a turnover above the VAT threshold of £85,000 became mandated to keep their records digitally and provide their
Final warning to use MTD for VAT Read More »
If you turned 18 on or after 1 September 2020 there may be cash waiting for you in a dormant Child Trust Fund (CTF). If your children recently turned 18 you should also check if they have claimed the
Claiming Child Trust Fund cash Read More »