Letting part of your home

In general, there is no Capital Gains Tax (CGT) on a property which has been [...]

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Entitlement to Business asset disposal relief

Business Asset Disposal Relief (BADR) applies to the sale of a business, shares in a [...]

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Types of limited companies

A limited company is a company ‘limited by shares’ or ‘limited by guarantee’. Limited by shares This [...]

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Are you self-employed?

Self-employed taxpayers should notify HMRC as soon as practicable when they begin working for themselves. [...]

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Beware fake tax rebate offers

HMRC continues to warn of the ever-present problem of fraudulent phishing emails, suspicious phone calls [...]

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Importing or exporting for the first time?

If you are considering selling or buying to or from companies based outside the UK, [...]

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Top-line, bottom-line?

Most small business owners are happy, from a financial point of view, if sales are [...]

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Full-time and part-time contracts

As an employer, the tax and employment responsibilities you have for your staff will depend [...]

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The Valuation Office Agency tackles holiday lets

The Valuation Office Agency (VOA) is writing to some owners of self-catering holiday lets that [...]

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Autumn Finance Bill 2023 update

The government published the Autumn Finance Bill 2023 on 29 November 2023. The Bill is [...]

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Tax on inherited private pensions

Private pensions can be an efficient way to pass on wealth, but it is important [...]

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Eligibility for the VAT Flat Rate Scheme

The VAT Flat Rate scheme is open to VAT registered businesses that expect their taxable [...]

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Checking Furnished Holiday Let property occupancy

The furnished holiday let (FHL) rules allow holiday lettings of properties that meet certain conditions [...]

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A reminder that NLW and NMW rates are increasing

A reminder for our readers that the National Living Wage (NLW) and the National Minimum [...]

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Tax Diary March/April 2024

1 March 2024 - Due date for Corporation Tax due for the year ended 31 [...]

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Using your own vehicles for work-related journeys

If you are an employee and use your own money to buy things you need [...]

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Should you pay tax on selling goods online?

HMRC has published new guidance for taxpayers that regularly sell goods or services through an [...]

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Landlords – claiming maintenance and repairs costs

Landlords are able to claim for allowable expenses as a deduction from their rental income [...]

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Reporting employee changes to HMRC

There are rules that businesses must follow when they are reporting employee changes. These changes [...]

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Record number of taxpayers file on time

HMRC has confirmed that more than 11.5 million people submitted their 2022-23 self-assessment tax returns [...]

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Does your business offer customs services?

If your business does offer customs services, did you know that HMRC could offer you [...]

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Government promotes electric vehicles

The government department active in the promotion of electric vehicles has published guidance regarding the [...]

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Do you need to tell HMRC about additional income?

There is an online tool that allows taxpayers to check if they need to notify [...]

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Capital sums derived from assets

HMRC’s guidance is clear that where a capital sum is derived from an asset, the [...]

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Joining or leaving the VAT Cash Accounting Scheme

The VAT Cash Accounting Scheme can offer useful benefits to small businesses. Under standard VAT [...]

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File early to have self-assessment tax coded out

The coding out threshold may entitle you to have tax underpayments collected via your tax [...]

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Penalties if you missed the filing deadline

Have you missed the 31 January 2024 filing deadline for your 2022-23 self-assessment return? If you [...]

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Time to Pay your tax

Businesses and self-employed people in financial distress, and with outstanding tax liabilities, may be eligible [...]

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Does your business have a March year end date?

Leaving aside tax planning issues all businesses should be considering business planning opportunities if they [...]

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Changes at Companies House

Companies House have issued an update on their first implementation of changes brought about by [...]

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Tax and working from home

Employees who are working from home may be able to claim tax relief for bills [...]

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VAT – option to tax property

There are special VAT rules that allow businesses to standard rate the supply of most [...]

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Assets made available to an employee

Assets such as computers, televisions and bicycles that are made available to employees can create [...]

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Do you need to register for self-assessment?

There are a number of reasons why you might need to complete a self-assessment tax [...]

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Reporting company car changes

There is a requirement to notify HMRC if you make any company cars available for [...]

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Correcting payroll mistakes

Employers generally use payroll software or other payroll services to record employees pay, deductions and [...]

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Government steps to secure UK supply chains

Industry leaders have welcomed the Government’s new Critical Imports and Supply Chain Strategy, safeguarding UK [...]

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Government launches new WhatsApp channel

The Government has launched a new account on WhatsApp Channels, allowing members of the public [...]

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Using the VAT Flat Rate Scheme

The VAT Flat Rate scheme allows businesses to pay VAT as a fixed percentage of [...]

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IHT gifts – 7 year limit

Most gifts made during a person’s life are not subject to tax at the time [...]

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