- May 7, 2024
- admin
New Companies House powers
The recently introduced Economic Crime and Transparency Act has gifted Companies House a range of new powers aimed at reducing exploitation by corporate entities to…
- May 7, 2024
- admin
Cyber protection laws introduced
New consumer protections against hacking and cyber-attacks came into force at the end of April 2024. All internet connected smart devices will be required by…
- May 7, 2024
- admin
Tax Diary June/July 2024
1 June 2024 - Due date for corporation tax due for the year ended 31 August 2023. 19 June 2024 - PAYE and NIC deductions…
- May 2, 2024
- admin
Hiring customs agents
Customs declarations can be difficult and time consuming to complete. Businesses can make their own custom's declarations; however, this is complex and requires specialist skills
- May 2, 2024
- admin
Business rates relief in England
Business rates are a tax on non-domestic premises, including most commercial properties such as shops, offices, pubs, warehouses and factories. The money raised through business
- May 2, 2024
- admin
Directors who are liable for unpaid tax
HMRC has the power to make directors personally liable for paying the tax debts of companies they have been involved in under certain limited circumstances.…
- May 2, 2024
- admin
Self-employed tax basis period reform
The self-employed tax basis period reform has changed the way trading income is allocated to tax years. Under the reforms, the tax basis period has…
- May 2, 2024
- admin
New tips guidance published
New rules that stop employers from withholding tips from people working in the hospitality, leisure and services sectors are a step closer following the publication…
- May 2, 2024
- admin
VAT boost to charitable donations
The government is looking to introduce a new relief that would provide a VAT boost to charitable donations. The new VAT relief would be designed…
- April 30, 2024
- admin
Post Office Offences Bill to be extended
The Government has tabled amendments to expand the territorial extent of the Post Office Offences Bill. Convictions resulting from the Post Office Horizon scandal in…
- April 30, 2024
- admin
Free management course for SMEs
The government has launched the new Help to Grow: Management Essentials course; a short online course with practical tips and resources for small business leaders.…
- April 25, 2024
- admin
Checking your National Insurance records
There is an online service available on HMRC to check your National Insurance Contributions (NIC) record online. The service is available at
- May 7, 2024
- admin
New Companies House powers
The recently introduced Economic Crime and Transparency Act has gifted Companies House a range of new powers aimed at reducing exploitation by corporate entities to…
- May 2, 2024
- admin
Business rates relief in England
Business rates are a tax on non-domestic premises, including most commercial properties such as shops, offices, pubs, warehouses and factories. The money raised through business
- April 30, 2024
- admin
Free management course for SMEs
The government has launched the new Help to Grow: Management Essentials course; a short online course with practical tips and resources for small business leaders.…
- April 16, 2024
- admin
COVID Bounce Back abuse
The Insolvency Service has recently published information confirming that a total of 831 company directors were banned in 2023-24 for Covid support scheme abuse, up…
- April 16, 2024
- admin
Settling energy disputes
Business owners that are in dispute with their energy suppliers will be interested in the free support on offer from the Energy Ombudsman. In a…
- April 9, 2024
- admin
What do we mean by profit?
When most business owners refer to business profits, they are likely to mean the difference between sales and costs, and more concisely, that sales exceed…
- April 5, 2024
- admin
To register or not to register
In the recent Spring Budget, the VAT registration threshold was raised to £90,000 (previously £85,000) which means that smaller businesses that did not want to…
- March 26, 2024
- admin
We are unpaid tax collectors
Clients often refer to the VAT added to supplier invoices as if it were a cost to their business regardless of their VAT position. This…
- March 26, 2024
- admin
Time to rethink the credit you offer your customers
Most business owners are driven by sales targets and to meet these targets they may be tempted to offer extended payment terms. For example, if…
- March 12, 2024
- admin
Public sector productivity
In a recent announcement by the Treasury, it was announced that plans are afoot to deliver up to £1.8bn of productivity benefits by 2029. The…
- March 4, 2024
- admin
Companies House rolls-out new powers
The first measures under the Economic Crime and Corporate Transparency Act 2023 (ECCT Act) came into force on Monday 4 March 2024. Changes introduced include:…
- February 28, 2024
- admin
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:…
- May 2, 2024
- admin
Directors who are liable for unpaid tax
HMRC has the power to make directors personally liable for paying the tax debts of companies they have been involved in under certain limited circumstances.…
- April 4, 2024
- admin
Restarting a dormant or non-trading company
HMRC must be informed when a non-trading or dormant company starts trading and becomes active for Corporation Tax purposes. Companies can use HMRC Online Services…
- January 18, 2024
- admin
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…
- January 11, 2024
- admin
New tax credits for film, TV and game makers
A number of reforms to tax reliefs for the creative sectors came into effect from 1 January 2024. Under the reformed system, a children’s TV…
- December 7, 2023
- admin
More time to file company accounts
The normal filing deadline for filing the accounts of a private limited company is nine months after the company’s financial year end. Known as the…
- November 30, 2023
- admin
Corporation Tax marginal rate
The Corporation Tax main rate for companies with profits in excess of £250,000 increased to 25% on 1 April 2023. A Small Profits Rate (SPR)…
- November 30, 2023
- admin
Tax relief for R&D intensive SMEs
In the Autumn Statement it was announced that the existing R&D Expenditure Credit and Small and Medium Enterprise Scheme will be merged from April 2024.…
- November 9, 2023
- admin
Company tax return obligations
After the end of its financial year, a private limited company must prepare full annual accounts and a company tax return. In most cases a…
- November 9, 2023
- admin
What is a business repair?
HMRC’s internal manuals provide some useful information on the definition of a business repair. This is important because it is required to identify the asset…
- October 19, 2023
- admin
Accounting periods for Corporation Tax
Companies often have two different company accounting periods. This is because there are different rules for Companies House filings and for returns sent to HMRC.…
- September 21, 2023
- admin
Utilising Capital Gains Tax losses
Usually, if you sell an asset for less than you paid for it you would make a capital loss. As a general rule, if the…
- September 21, 2023
- admin
No gain – no loss transfers in groups of companies
There are special rules concerning the transfer of assets in groups of companies. In most cases, this means that where assets are moved around group…
- May 2, 2024
- admin
Directors who are liable for unpaid tax
HMRC has the power to make directors personally liable for paying the tax debts of companies they have been involved in under certain limited circumstances.…
- May 2, 2024
- admin
New tips guidance published
New rules that stop employers from withholding tips from people working in the hospitality, leisure and services sectors are a step closer following the publication…
- April 25, 2024
- admin
Bikes for employees
The Cycle to Work scheme allows employers to provide bicycles and cyclists’ safety equipment to employees as a tax-free benefit. The scheme must be offered…
- April 18, 2024
- admin
Payrolling employee expenses and benefits
Employers can register on a voluntary basis (before the start of the tax year) to report and account for tax on certain benefits and expenses…
- April 4, 2024
- admin
Tax-free mileage expenses
If you use your own vehicle for business journeys you may be able to claim a tax-free allowance from your employer known as a Mileage…
- April 4, 2024
- admin
Restarting a dormant or non-trading company
HMRC must be informed when a non-trading or dormant company starts trading and becomes active for Corporation Tax purposes. Companies can use HMRC Online Services…
- January 25, 2024
- admin
Reporting company car changes
There is a requirement to notify HMRC if you make any company cars available for private use by company directors or employees. The definition of…
- January 18, 2024
- admin
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…
- January 11, 2024
- admin
New tax credits for film, TV and game makers
A number of reforms to tax reliefs for the creative sectors came into effect from 1 January 2024. Under the reformed system, a children’s TV…
- January 9, 2024
- admin
Using your vehicle for work related journeys
If you use your car or other vehicle to undertake business journeys on behalf of your employer, and your employer does not: Fully reimburse you…
- December 20, 2023
- admin
Tax consequences of loans to employees
An employee can obtain a benefit when provided with an employment-related cheap or interest-free loan. The benefit is the difference between the interest the employee…
- December 14, 2023
- admin
Tax exempt accommodation costs
There are special rules for the provision of living accommodation for employees. In most cases, employees will pay tax on any living accommodation provided by…
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