2024 - Page 42 of 44

25 Jan 24

VAT – option to tax property

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 to tax). This means

25 Jan 24

Tax and working from home

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 for the additional household

22 Jan 24

Government launches new WhatsApp channel

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 a trusted, verified

22 Jan 24

Government steps to secure UK supply chains

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

18 Jan 24

Bed and breakfast share sales

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 to have Capital Gains Tax

18 Jan 24

Full expensing of capital purchases

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 for full

18 Jan 24

Year end payroll reporting

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 that must be completed. This includes sending a final PAYE

18 Jan 24

Reminder to claim the Marriage Allowance

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 not pay tax above the basic rate

18 Jan 24

IHT gifts – 7 year limit

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 exempt transfers' or 'PETs'. These gifts

18 Jan 24

Using the VAT Flat Rate Scheme

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 the type of business. The scheme

Year: 2024

VAT – option to tax property

Tax and working from home

Government launches new WhatsApp channel

Government steps to secure UK supply chains

Bed and breakfast share sales

Full expensing of capital purchases

Year end payroll reporting

Reminder to claim the Marriage Allowance

IHT gifts – 7 year limit

Using the VAT Flat Rate Scheme

Claiming for uniforms, work clothing and tools

Accounting on a cash basis

Using the VAT Cash Accounting Scheme

SJPR