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Group companies – Considerations ahead of the Corporation Tax rise - August 9, 2022
 | Corporation Tax (CT) rates are set to rise in the UK from 1 April 2023. From this date, the main rate of CT will increase to 25 per cent for all companies with taxable profits over £250,000. There will… |
Are you prepared for changes to the income tax basis? - July 8, 2022
 | Unincorporated businesses, including sole traders, the self-employed and trading partnerships, will be taxed on profits generated in the 12 months to 5 April each year from 2024/25. This is a significant… |
Survey shows taxpayers are still unprepared for Making Tax Digital switchover - July 8, 2022
 | A new survey on Making Tax Digital (MTD) shows taxpayers have an alarming lack of readiness and enthusiasm for the changeover and a lack of awareness that MTD for Income Tax begins in less than two years…. |
The benefits of taking on an apprentice - July 8, 2022
 | With the current labour shortage affecting pretty much all areas of the economy, taking on an apprentice could reap rewards for many businesses. There are many reasons why hiring an apprentice can benefit… |
Be prepared if you decide to adopt a working from home policy - July 8, 2022
 | There seems little doubt now that the working from home phenomenon has become established. With a laptop, a phone and an internet connection, many tasks can be performed as adequately at home or elsewhere,… |
How to minimise Inheritance Tax bills as house prices surge - July 8, 2022
 | More and more people are being drawn into paying Inheritance Tax (IHT), as the price of property soars. This is because former Chancellor Rishi Sunak froze the nil rate thresholds for paying the tax at… |
‘Umbrella’ contracts firm loses £11m tribunal case against HMRC - July 8, 2022
 | A company has lost an £11 million dispute with the taxman over whether contract construction workers were entitled to claim travel costs tax-free. As many as 600,000 temporary workers in the UK are thought… |
Britons lose millions in penalty charges as they cash in LISAs - July 8, 2022
 | Thousands of Britons facing a cost-of-living crunch have been withdrawing funds from their Lifetime ISA (LISA) accounts and getting hit with significant penalty charges. According to HM Revenue & Customs… |
Be prepared for changes to VAT penalties and VAT interest charges - June 10, 2022
 | Changes to charges and penalties applied to late submission of VAT returns will kick in from January next year. For the VAT period starting on or after 1 January 2023, new penalties will replace the default… |
Penalties for misuse of Coronavirus Job Retention Scheme - June 10, 2022
 | New legislation allows HM Revenue & Customs (HMRC) to recover Coronavirus Job Retention Scheme (CJRS) grants that have been overclaimed. Those who fall foul of the legislation could face interest charges,… |
Latest News
Latest NewsJun
Donating to charity is its own reward, but if you are a UK taxpayer and you …
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Jun
Inheritance Tax (IHT) is rarely a popular topic, but with the nil rate band …
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