Latest Blog Posts

We are often asked why a self-employed person is paying so much tax when their drawings from their self-employed business are minimal. The reason for

The following definitions set out how property income is calculated and taxed: Rental income – includes rents, amounts received to cover use of furniture, cleaning

HMRC is responding to the pressures we all feel as the new COVID-19 variant, Omicron, makes normal life difficult once more. The offer by HMRC

Businesses are reminded to take steps to prepare for Making Tax Digital for Value Added Tax (VAT) before it becomes mandatory for all VAT-registered businesses

HMRC have issued the following guidance to taxpayers who may have received COVID-19 grants during the 2020-21 tax year. “If you claimed Self-Employment Income Support

£100,000 – Loss of income tax personal allowance Your income tax personal allowance – £12,570 for 2021-22 – will be reduced by £1 for every

1 January 2022 – Due date for Corporation Tax due for the year ended 31 March 2021. 19 January 2022 – PAYE and NIC deductions

As you will see from the tax diary notes this month, there are two significant tax payment deadlines this month. 1 January 2022 – Companies

Do you have half-completed plans to open an online-shop this year? Even if you have never considered internet trading, could this be an option for

We have listed below a number of ideas that might ease your progress through any continuing COVID-19 related disruption during 2022. The following comments are

We are now two years into the COVID-19 pandemic and the virus is showing a remarkable ability to adapt. In its latest form, the Omicron

We are all ‘up to here’ in accommodating COVID-19, and depending on our tolerance levels, this is likely to continue into 2022. There are remote

From 15 December 2021, the government is making the following reductions to the grants made available for certain electric vehicle purchases. It will provide grants

Many individuals and businesses will have been affected by the disruption in electricity supplies due to recent storm damage. Most of the serious damage that

Our offices will be closed for Christmas from 11am on Thursday 23rd December opening again  on Tuesday 4th January 2022.  Season's greetings and best wishes

January 2022 is a ‘taxing’ month. It is the last month to file a self-assessment tax return (electronically) for 2020-21 and avoid late filing penalties.

A reimbursement of expenditure incurred by an employee in travelling between two or more places of work is not “earnings” and therefore not taxable. This

We are fifteen months away from a radical upward lift in corporation tax (CT) rates. From 1 April 2023, there will be two rates of

1 December 2021 – Due date for corporation tax payable for the year ended 28 February 2021. 19 December 2021 – PAYE and NIC deductions

Readers should take note of the following changes: Income Tax Allowances frozen: The Income Tax personal allowance and the rates and bands are frozen until

There was little good cheer in the Chancellor’s announcements to parliament on 27 October. A short summary of the good news is listed below: Annual

Business gifts are not allowed as a tax deduction against profits. The legislation treats gifts in the same way as business entertaining expenditure, which is

Readers are reminded that there is a tax-free allowance for the provision of an annual party or other event for the benefit of staff and

Footfall measures the number of times a customer returns to your business to purchase goods and services. Many business owners believe that the most effective

If you are buying Christmas gifts online this year, take care that you are not presented with unexpected VAT, excise duty or customs duty charges

HMRC have issued a press release that sets out the scale of criminal activity, convincing taxpayers to part with bank or personal details under threat

Unless you are committed to dying with your boots on, there will come a day when you desire to exit from your business and retire

If you are importing goods into the UK for the first time you may be advised to seek the assistance of a qualified customs agent.

ULEV expands to Ultra Low Emission Vehicles. It is an acronym that we will see on a more frequent basis as climate issues climb in

Mention the words chips to most people and fried potatoes would come to mind.   Suggesting that there is a growing shortage of chips would

In a recent press release the government confirmed that more than 500,000 rural homes in the UK are to receive access to better broadband plans.

It was difficult to find any changes proposed in the budget last week that gave rise to great optimism or that swept away the nagging

1 November 2021 – Due date for Corporation Tax due for the year ended 31 January 2021. 19 November 2021 – PAYE and NIC deductions

We now know the Chancellor’s preferred strategy for plugging any hole in the UK’s finances is by tweaking taxation and using the proceeds to pay-back

In most cases, the statutory filing date for a Corporation Tax return is twelve months after the end of the relevant accounting period. HMRC considers

There are still two ways to submit your self-assessment tax return. Most taxpayers chose to file electronically, and if we file your tax return, this

The temporary reduced rate of VAT (5%), introduced to assist qualifying hospitality trades disrupted by COVID lockdown measures, was increased to 12.5% on 1 October

As with the Spring Budget 2021, much of the detail for the Autumn Budget had been leaked to the press prior to the official report

Later this week (27 October 2021) Rishi Sunak will present his second budget during 2021. It is likely that reduced public expenditure and higher taxation

To tax multinational companies on business transactions completed in the UK, our government introduced the Digital Services Tax (DST) April 2020. The US response was

We are all due a little rest and recuperation. The last eighteen months have been challenging and stressful. If, big if, COVID infection is contained

Although it sounds like a culinary dish – a cabbage compote (?) – cabotage is defined as the transport of goods or passengers between two

The temporary reduced rate of VAT (5%), introduced to assist qualifying hospitality trades disrupted by COVID lockdown measures, was increased to 12.5% from 1 October

At present, self-employed traders (sole traders and partnerships) are taxed for each tax year on profits for the accounting period ending in that tax year.

A recent HMRC press release confirmed that sole traders and buy-to-let property businesses (but not incorporated businesses) will have an extra year to prepare for

The UK Government has announced that further measures will be put in place to help ease supply chain pressures as spikes in demand for fuel

1 October 2021 – Due date for Corporation Tax due for the year ended 31 December 2020. 19 October 2021 – PAYE and NIC deductions

University students taking part-time jobs are at increased risk of falling victim to scams, HMRC is warning. Higher numbers of students going to university this