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06 Feb 24

Does your business offer customs services?

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 vet, approve or recommend individual

01 Feb 24

Time to Pay your tax

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 to

01 Feb 24

Penalties if you missed the filing deadline

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 charged a £100 fixed penalty

01 Feb 24

File early to have self-assessment tax coded out

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 a company pension. Instead of paying off

01 Feb 24

Joining or leaving the VAT Cash Accounting Scheme

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 customer has paid and can

01 Feb 24

Capital sums derived from assets

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 for capital gains purposes. The

01 Feb 24

Do you need to tell HMRC about additional income?

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 at

29 Jan 24

Changes at Companies House

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 in the relevant

29 Jan 24

Does your business have a March year end date?

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 2024. For

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

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