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29 Feb 24

Advise HMRC if company is dormant

If a company has stopped trading and has no other income, then the company is usually classed as dormant for Corporation Tax purposes. A company is usually dormant for

29 Feb 24

Appeals against tax penalties

It is not unusual for taxpayers to find themselves in a position where they disagree with a tax decision issued by HMRC. There are a number of different options open to taxpayers

29 Feb 24

Holiday Lets averaging election

The furnished holiday let (FHL) rules allow holiday lettings of properties that meet certain conditions to be treated as a trade for tax purposes. In order to qualify as a

28 Feb 24

Crack down on ‘fire and rehire’ practices

The Government has announced action to tackle the use of controversial 'fire and rehire' practices. In a press release issued 19 February 2024 they said: “Action against

28 Feb 24

A new champion for small businesses appointed

An experienced entrepreneur has taken up a key role to promote the needs of small businesses to government and ensure suppliers seize the benefits of the Procurement Act. Shirley

22 Feb 24

Beware fake tax rebate offers

HMRC continues to warn of the ever-present problem of fraudulent phishing emails, suspicious phone calls and texts. These unwanted emails, phone calls and texts are being sent from

22 Feb 24

Cost of living final payment 2023-24

The Cost of Living support package has been designed to help over 8 million households in receipt of means tested benefits. The details of Cost of Living Payments due in the

22 Feb 24

Are you self-employed?

Self-employed taxpayers should notify HMRC as soon as practicable when they begin working for themselves. HMRC must be officially notified by 5 October following the end of the tax

22 Feb 24

Types of limited companies

A limited company is a company ‘limited by shares’ or ‘limited by guarantee’. Limited by shares This is the most common limited company structure. A limited by shares company is

22 Feb 24

Entitlement to Business asset disposal relief

Business Asset Disposal Relief (BADR) applies to the sale of a business, shares in a trading company or an individual’s interest in a trading partnership. Where this relief is

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