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24 Aug 23

VAT supplies for no consideration

In most cases, a supply of goods or services for VAT purposes is deemed to have taken place in return for consideration. This is usually payment in money but can also be of a

24 Aug 23

Checking your Simple Assessment tax bill

Simple Assessment is a method by which HMRC can assess where additional Income Tax is due by a taxpayer. A Simple Assessment letter is usually issued to taxpayers with reasonable

24 Aug 23

On your bike tax-free

The Cycle to Work scheme was introduced over 20 years ago to help promote the use of environmentally friendly modes of transport. The scheme allows employers to provide bicycles

24 Aug 23

Class 2 and 4 NIC for the self-employed

There are two types of National Insurance contributions (NICs) payable by most self-employed people. These are known as Class 2 NICs and Class 4 NICs. Class 2 NICs are paid by all

24 Aug 23

Do you need to submit a Self-Assessment tax return?

There are a number of reasons why you might need to complete a Self-Assessment return for the first time. This includes if you are self-employed, have an annual income over

21 Aug 23

Access to cash to be protected

Recognising the need to maintain access to cash withdrawal facilities, the government is stepping in to set out a new access standard in the UK. The vast majority of people and

21 Aug 23

The best and worst of British banks

Personal and small business current account holders were asked how likely they would be to recommend their provider to a friend, relative or other business. The survey also covered

17 Aug 23

Tax and duty on goods sent from abroad

There are special rules to help ensure that goods sent from abroad are taxed appropriately. The aim is to not disadvantage UK businesses supplying goods in the UK, for example, by

17 Aug 23

Capital Gains Tax and trusts

A trust is an obligation that binds a trustee, an individual or a company, to deal with the assets - such as land, money and shares - held by the trust. The person who places

17 Aug 23

VAT recovery when leasing vehicles

The VAT treatment of motoring expenses is relevant to any business that incurs VAT on motor expenses. We have covered below some important points to be aware of concerning the

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