- July 25, 2024
- admin
Register for VAT One Stop Shop Scheme
The VAT Import One Stop Shop (IOSS) Scheme applies to goods imported in consignments with a value of £135 or less (known as low value…
- July 25, 2024
- admin
Let Property Campaign
The Let Property Campaign provides landlords who have undeclared income from residential property lettings in the UK or abroad with an opportunity to regularise their…
- July 25, 2024
- admin
The marginal rate of Corporation Tax
The Corporation Tax Main Rate applies to companies with profits in excess of £250,000. The applicable rate is currently 25%. A Small Profit Rate (SPR)…
- July 25, 2024
- admin
Current CGT rates
Capital Gains Tax (CGT) is normally charged at a simple flat rate of 20% and this applies to most chargeable gains made by individuals. If…
- July 25, 2024
- admin
Considering a significant gift?
There are special rules concerning the liability to IHT of a transfer made during one’s lifetime. For example, most gifts made during a person's life…
- July 25, 2024
- admin
Thinking of selling your business?
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.…
- July 23, 2024
- admin
Your stake in your business
Ever wondered how your stake in your business is represented in your accounts? The answer can be found at the bottom of your balance sheet.…
- July 23, 2024
- admin
The ‘fiscal’ goal posts will be moving
In the coming months we will start to see how our new government intends to change the UK tax rules to further its economic growth…
- July 18, 2024
- admin
Ordering documents from Companies House
Companies House offers interested parties the ability to order certified copies of certificates and documents held on the Companies House register. You can order: a…
- July 18, 2024
- admin
Taxable and non-taxable State Benefits
Whilst there are a large number of state benefits available, it is not clear which of these benefits are taxable and which are tax-free. HMRC’s…
- July 18, 2024
- admin
Gains on sale of shares
Capital Gains Tax (CGT) is normally charged at a simple flat rate of 20% (but see comments below) when you sell shares unless they are…
- July 18, 2024
- admin
Child benefit for 16 to 19 year olds
The child benefit rates for the only or eldest child in a family is currently £25.60 and the weekly rate for all other children is…
- July 23, 2024
- admin
Your stake in your business
Ever wondered how your stake in your business is represented in your accounts? The answer can be found at the bottom of your balance sheet.…
- July 15, 2024
- admin
The new Chancellor’s first speech
The Chancellor has promised to take immediate action to fix the foundations of the economy, rebuild Britain and make every part of the country better…
- July 15, 2024
- admin
Responding to a personal data breach
The Information Commissioner’s Office has a simple guide that explains what you need to do in the 72 hours following a data breach. The seven…
- July 8, 2024
- admin
Exit plans
Exit can be seen as quitting, especially if the exit discussed is your business interests. But actually, business exit planning is an essential part of…
- July 1, 2024
- admin
Translation
If you receive documents from overseas customers or suppliers and you need to translate text into English, have you used Google Translate? It’s a free,…
- July 1, 2024
- admin
Extracting profits from a small, limited company
It is pretty much universally accepted that shareholders (usually directors) of small companies take out their remuneration as a small salary - a salary pitched…
- June 25, 2024
- admin
What is a group company structure?
A group is formed when one company has control of, owns, a number of subsidiary companies. A group is different to an arrangement where an…
- June 20, 2024
- admin
Tax relief for training costs
If you are self-employed it is important to know if an expense is tax allowable. Any allowable costs can be used to reduce your taxable…
- June 6, 2024
- admin
Setting up as a sole trader
Setting up in business as a sole trader is arguably the simplest way of starting and running a business. The advantages of being a sole…
- May 28, 2024
- admin
Post Office convictions quashed
Convictions of hundreds of postmasters have been quashed following Royal Assent of the Post Office (Horizon System) Offences Act 2024. Many postmasters endured financial ruin,…
- May 13, 2024
- admin
Customs declaration deadline
A reminder that businesses must submit all export declarations through the Customs Declaration Service (CDS) by 4 June. Businesses exporting goods have less than one…
- 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…
- July 25, 2024
- admin
The marginal rate of Corporation Tax
The Corporation Tax Main Rate applies to companies with profits in excess of £250,000. The applicable rate is currently 25%. A Small Profit Rate (SPR)…
- July 11, 2024
- admin
Company filing obligations
It is important that anyone responsible for the accounts and tax filing regime for private limited companies is aware of their obligations. After the end…
- July 4, 2024
- admin
Claim full expensing or 50% FYA
Full expensing allows for a 100% first-year capital allowance for qualifying plant and machinery assets and came into effect last April. To qualify for full…
- June 20, 2024
- admin
Post cessation transactions
Tax relief may be available for post-cessation expenses of a trade. To be an allowable post-cessation expense the trade must have ceased and the expense…
- May 9, 2024
- admin
How to claim R&D expenditure credit
In the Autumn Statement last year, it was announced that the existing R&D Expenditure Credit and Small and Medium Enterprise Scheme would be merged from…
- 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.…
- July 25, 2024
- admin
The marginal rate of Corporation Tax
The Corporation Tax Main Rate applies to companies with profits in excess of £250,000. The applicable rate is currently 25%. A Small Profit Rate (SPR)…
- July 11, 2024
- admin
Company filing obligations
It is important that anyone responsible for the accounts and tax filing regime for private limited companies is aware of their obligations. After the end…
- July 4, 2024
- admin
Late night taxi for an employee
There is no specific requirement for employers to provide employees with transport home. Nevertheless, an employer has a duty of care to their employees, which…
- July 4, 2024
- admin
Claim full expensing or 50% FYA
Full expensing allows for a 100% first-year capital allowance for qualifying plant and machinery assets and came into effect last April. To qualify for full…
- June 20, 2024
- admin
Tax and employee share schemes
There are a number of government approved share schemes which offer various incentives to employees. The rules of the schemes vary but they are all…
- June 20, 2024
- admin
Post cessation transactions
Tax relief may be available for post-cessation expenses of a trade. To be an allowable post-cessation expense the trade must have ceased and the expense…
- May 30, 2024
- admin
Employee suggestion schemes
There are many advantages to creating an employee suggestion scheme where employees are rewarded for making suggestions that benefit your business. Apart from the value…
- May 16, 2024
- admin
Beneficial tax-exempt loans
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…
- May 9, 2024
- admin
How to claim R&D expenditure credit
In the Autumn Statement last year, it was announced that the existing R&D Expenditure Credit and Small and Medium Enterprise Scheme would be merged from…
- 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
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 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…
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