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All
- All
- Bookkeeping
- Budget
- Budget Summary
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- Business
- Business management
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- Business tax
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- Capital Gains Tax
- Charity
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- Duties
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- Finance
- Finance stories
- General
- HMRC notices
- Holiday
- Income Tax
- Inheritance Tax
- Managing costs
- National Insurance
- NIC & Pensions
- Overseas Corporate tax issues
- Overseas personal tax issues
- Overseas tax issues
- Payroll
- Pension
- Personal
- Personal tax planning
- Profit margin
- Property Investment
- Savings
- Stamp duty
- Stamp Duty Land Tax
- Stocks & shares
- Tax credits
- Tax Diary
- Trading
- Uncategorised
- Value Added Tax
- VAT
- Wedding
Using your own vehicles for work-related journeys
February 8, 2024
Income Tax
If you are an employee and use your own money to buy things you need for your job you can sometimes claim tax relief for ...
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Should you pay tax on selling goods online?
February 8, 2024
Income Tax
HMRC has published new guidance for taxpayers that regularly sell goods or services through an online marketplace. The guidance makes it clear that this activity ...
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Landlords – claiming maintenance and repairs costs
February 8, 2024
HMRC notices
Landlords are able to claim for allowable expenses as a deduction from their rental income when calculating taxable rental profits to declare to HMRC. The ...
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Reporting employee changes to HMRC
February 8, 2024
Employment & Payroll
There are rules that businesses must follow when they are reporting employee changes. These changes must be sent to HMRC using a Full Payment Submission ...
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Record number of taxpayers file on time
February 8, 2024
Income Tax
HMRC has confirmed that more than 11.5 million people submitted their 2022-23 self-assessment tax returns by the 31 January deadline. This included over 778,000 taxpayers ...
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Alcohol duty freeze takes effect
February 8, 2024
Duties
As part of the Autumn Statement measures the Chancellor announced that the duty rates on beer, cider, wine and spirits would be frozen at the ...
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Does your business offer customs services?
February 6, 2024
Customs Duties
If your business does offer customs services, did you know that HMRC could offer you a free listing on their published lists. HMRC do not ...
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Government promotes electric vehicles
February 6, 2024
General
The government department active in the promotion of electric vehicles has published guidance regarding the costs, charging issues and infrastructure. We have extracted a few ...
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Do you need to tell HMRC about additional income?
February 1, 2024
Income Tax
There is an online tool that allows taxpayers to check if they need to notify HMRC about additional income. The online tool can be found ...
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Capital sums derived from assets
February 1, 2024
Capital Gains Tax
HMRC’s guidance is clear that where a capital sum is derived from an asset, the relevant legislation treats the owner as having made a disposal ...
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Joining or leaving the VAT Cash Accounting Scheme
February 1, 2024
Value Added Tax
The VAT Cash Accounting Scheme can offer useful benefits to small businesses. Under standard VAT accounting, VAT is payable on sales whether or not the ...
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File early to have self-assessment tax coded out
February 1, 2024
Income Tax
The coding out threshold may entitle you to have tax underpayments collected via your tax code when you are in employment or in receipt of ...
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Penalties if you missed the filing deadline
February 1, 2024
Income Tax
Have you missed the 31 January 2024 filing deadline for your 2022-23 self-assessment return? If you have missed the filing deadline, then you will be ...
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Time to Pay your tax
February 1, 2024
HMRC notices
Businesses and self-employed people in financial distress, and with outstanding tax liabilities, may be eligible to receive support with their tax affairs through HMRC’s Time ...
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Does your business have a March year end date?
January 29, 2024
Business Support
Leaving aside tax planning issues all businesses should be considering business planning opportunities if they presently have an accounting year end date of 31 March ...
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Changes at Companies House
January 29, 2024
Business Support
Companies House have issued an update on their first implementation of changes brought about by The Economic Crime and Corporate Transparency Act. We have copied ...
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Tax and working from home
January 25, 2024
Employment & Payroll
Employees who are working from home may be able to claim tax relief for bills they pay that are work related. Employers may reimburse employees ...
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VAT – option to tax property
January 25, 2024
Value Added Tax
There are special VAT rules that allow businesses to standard rate the supply of most non-residential and commercial land and buildings (known as the option ...
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Assets made available to an employee
January 25, 2024
Payroll
Assets such as computers, televisions and bicycles that are made available to employees can create certain tax, National Insurance and reporting obligations. There is no ...
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Do you need to register for self-assessment?
January 25, 2024
Income Tax
There are a number of reasons why you might need to complete a self-assessment tax return. This includes if you are self-employed, a company director, ...
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Reporting company car changes
January 25, 2024
Employee Benefits
There is a requirement to notify HMRC if you make any company cars available for private use by company directors or employees. The definition of ...
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Correcting payroll mistakes
January 25, 2024
Payroll
Employers generally use payroll software or other payroll services to record employees pay, deductions and National Insurance contributions on or before each payday. They also ...
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Government steps to secure UK supply chains
January 22, 2024
Business Support
Industry leaders have welcomed the Government’s new Critical Imports and Supply Chain Strategy, safeguarding UK supplies of critical goods such as medicines, minerals and semiconductors. ...
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Government launches new WhatsApp channel
January 22, 2024
General
The Government has launched a new account on WhatsApp Channels, allowing members of the public to subscribe to receive important updates to their phones. As ...
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Using the VAT Flat Rate Scheme
January 18, 2024
Value Added Tax
The VAT Flat Rate scheme allows businesses to pay VAT as a fixed percentage of their VAT inclusive turnover. The actual percentage used depends on ...
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IHT gifts – 7 year limit
January 18, 2024
Inheritance Tax
Most gifts made during a person’s life are not subject to tax at the time of the gift. These lifetime transfers are known as 'potentially ...
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Reminder to claim the Marriage Allowance
January 18, 2024
Income Tax
The marriage allowance applies to married couples and those in a civil partnership where a spouse or civil partner does not pay tax or does ...
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Year end payroll reporting
January 18, 2024
Payroll
It is not that long until the current 2023-24 tax year comes to an end and there are a number of year end payroll chores ...
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Full expensing of capital purchases
January 18, 2024
Corporation Tax
A reminder to readers that the full expensing 100% first-year capital allowance for qualifying plant and machinery assets came into effect last April. To qualify ...
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Bed and breakfast share sales
January 18, 2024
Capital Gains Tax
The term bed and breakfasting (sale and repurchase) of shares refers to transactions where shares are sold and bought back the next morning. This used ...
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