- March 27, 2024
- admin
Entitlement to carer’s allowance
Carer’s credit is a National Insurance credit that can help carers to fill gaps in their National Insurance record. Carers who don’t qualify for Carer’s…
- March 27, 2024
- admin
Rent a Room Scheme – another income stream
The rent-a-room scheme is a set of special rules designed to help homeowners who rent-a-room in their home to create a valuable tax free income…
- March 27, 2024
- admin
HMRC to accept service of legal proceedings by email
HMRC has issued an updated ‘news story’ to confirm that, where possible, new legal proceedings and pre-action letters can be served on the department using…
- March 27, 2024
- admin
What are the off-payroll working rules?
The rules for individuals providing services via an intermediary such as a personal service company (PSC) are complex. The rules apply if the worker who…
- March 27, 2024
- admin
Assistance with debt management
Earlier this month, saw the 10th anniversary of the StepChange Debt Charity’s annual Debt Awareness Week. This is designed to shine a spotlight on the…
- March 27, 2024
- admin
HMRC helpline changes on hold
HMRC has been forced into an embarrassing climbdown on plans to close the Self-Assessment, VAT and PAYE helplines from early April until September this year.…
- 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 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 21, 2024
- admin
What a tax code means
The letters in your tax code signify your entitlement (or not) to the annual tax free personal allowance. The tax codes are updated periodically and…
- March 21, 2024
- admin
Declare a beneficial interests in joint property
The usual tax position for couples who live together with their spouse or civil partners is that property income held in joint names is divided…
- March 21, 2024
- admin
Workplace pension responsibilities
Automatic enrolment for workplace pensions has helped many employees make provision for their retirement, with employers and government also contributing to make a larger pension
- March 21, 2024
- admin
Check your National Insurance record
There is an online service available on HMRC to check your National Insurance Contributions (NIC) record online. The service is available at
- 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:…
- February 28, 2024
- admin
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…
- February 20, 2024
- admin
Top-line, bottom-line?
Most small business owners are happy, from a financial point of view, if sales are in line with expectations. And there are obvious grounds for…
- February 20, 2024
- admin
Importing or exporting for the first time?
If you are considering selling or buying to or from companies based outside the UK, you may well be overawed by the plethora of regulation…
- February 14, 2024
- admin
Full-time and part-time contracts
As an employer, the tax and employment responsibilities you have for your staff will depend on the type of contract you give them and their…
- January 29, 2024
- admin
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…
- January 29, 2024
- admin
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…
- January 22, 2024
- admin
Government steps to secure UK supply chains
Industry leaders have welcomed the Government’s new Critical Imports and Supply Chain Strategy, safeguarding UK supplies of critical goods such as medicines, minerals and
- 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…
- August 3, 2023
- admin
Corporation Tax Group Payment Arrangements
A Corporation Tax Group Payment Arrangement (GPA) is a special arrangement that allows groups of companies to make joint payments of Corporation Tax. This type…
- August 3, 2023
- admin
Carrying company losses back
Corporation Tax relief may be available where your company or organisation makes a trading loss. A qualifying trading loss may be used to claim relief…
- 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…
- 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…
- November 9, 2023
- admin
Reminder of not-so-trivial tax-free benefits
There is a benefit-in-kind (BiK) trivial exemption that applies to small non-cash benefits like a bottle of wine, or a bouquet of flowers given occasionally…
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