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12 Oct 23

Deadlines 2022-23 Self-Assessment tax return

The 2022-23 tax return filing deadline for taxpayers who continue to submit paper Self-Assessment returns is 31 October 2023. Late submission of a Self-Assessment return will incur

12 Oct 23

Re-starting a dormant company

HMRC must be informed when a non-trading or dormant company starts trading again and thus becomes active for Corporation Tax purposes. Companies can use HMRC Online Services to

09 Oct 23

Reforms to powers of attorney

These legal agreements enable a person to grant decision making powers about their care, treatment or financial affairs to another person if they lose mental capacity. The Powers

09 Oct 23

Bank deposits covered by FSCS

Your eligible deposits with all High Street bank are covered by the Financial Services Compensation Scheme (FSCS). The present limit of this FSCS guarantee is £85,000 and this

05 Oct 23

Reporting self-employed profits 2023-24

The basis of assessment reforms will change the way trading income is allocated to tax years. The changes will affect sole traders and partnerships that use an accounting date

05 Oct 23

Transferring IHT unused nil rate band

The Inheritance Tax residence nil rate band (RNRB) is a transferable allowance for married couples and civil partners (per person) when their main residence is passed down to a

05 Oct 23

When you can and cannot use the Rent-a-Room Scheme

The rent-a-room scheme is a set of special rules designed to help homeowners who rent-a-room in their home. If you are using this scheme, you should ensure that rents received from

05 Oct 23

Paying tax by Certificate of Tax Deposit

The Certificate of Tax Deposit scheme allowed users to deposit money with HMRC and use it later to pay tax liabilities. The date that the certificate was purchased was known as the

05 Oct 23

Income Tax in Scotland if you have more than one home

There is an interesting anomaly that can affect taxpayers with homes in Scotland and other parts of the UK. Where this is the case, the question arises as to whether or not the

05 Oct 23

CIS contractors monthly tax chores

The Construction Industry Scheme (CIS) is a set of special rules for tax and National Insurance for those working in the construction industry. Businesses in the construction

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