News – Tide Accounting

Register for VAT One Stop Shop Scheme

The VAT Import One Stop Shop (IOSS) Scheme applies to goods imported in consignments with [...]

Let Property Campaign

The Let Property Campaign provides landlords who have undeclared income from residential property lettings in [...]

The marginal rate of Corporation Tax

The Corporation Tax Main Rate applies to companies with profits in excess of £250,000. The [...]

Current CGT rates

Capital Gains Tax (CGT) is normally charged at a simple flat rate of 20% and [...]

Considering a significant gift?

There are special rules concerning the liability to IHT of a transfer made during one’s [...]

Thinking of selling your business?

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

Your stake in your business

Ever wondered how your stake in your business is represented in your accounts? The answer [...]

Responding to a personal data breach

The Information Commissioner’s Office has a simple guide that explains what you need to do [...]

Ordering documents from Companies House

Companies House offers interested parties the ability to order certified copies of certificates and documents [...]

Taxable and non-taxable State Benefits

Whilst there are a large number of state benefits available, it is not clear which [...]

Gains on sale of shares

Capital Gains Tax (CGT) is normally charged at a simple flat rate of 20% (but [...]

Child benefit for 16 to 19 year olds

The child benefit rates for the only or eldest child in a family is currently [...]

When you cannot use the Property or Trading Allowances

Two separate £1,000 tax allowances for property and trading income were introduced in April 2017. [...]

The new Chancellor’s first speech

The Chancellor has promised to take immediate action to fix the foundations of the economy, [...]

Are mega sized marshmallows zero-rated?

In the UK most basic food stuffs are zero rated. However, the definition of 'basic' [...]

Business VAT responsibilities

The taxable turnover threshold that determines whether businesses should be registered for VAT is currently [...]

Restarting a dormant company

HMRC must be informed when a non-trading or dormant company restarts trading and becomes active [...]

Company filing obligations

It is important that anyone responsible for the accounts and tax filing regime for private [...]

Inheritance and tax

As a general rule, an individual who inherits property, money or shares is not liable [...]

Labour win landslide election result

As had been widely predicted, the results at the polls have seen the Labour Party [...]

Exit plans

Exit can be seen as quitting, especially if the exit discussed is your business interests. [...]

New government

Our new government, and in particular, Rachel Reeves, the new Chancellor, will be responsible for [...]

Statutory redundancy pay

If you have been in the same job for two years or more and are [...]

Claim full expensing or 50% FYA

Full expensing allows for a 100% first-year capital allowance for qualifying plant and machinery assets [...]

Late night taxi for an employee

There is no specific requirement for employers to provide employees with transport home. Nevertheless, an [...]

Income Tax in Scotland

The Scottish rate of income tax (SRIT) is payable on the non-savings and non-dividend income [...]

What your tax code means

The letters in your tax code signify your entitlement (or not) to the annual tax [...]

CGT Incorporation Relief

Where a taxpayer owns a business as a sole trader or in partnership, a capital [...]

Extracting profits from a small, limited company

It is pretty much universally accepted that shareholders (usually directors) of small companies take out [...]

Translation

If you receive documents from overseas customers or suppliers and you need to translate text [...]

Tax Diary August/September 2024

1 August 2024 - Due date for corporation tax due for the year ended 31 [...]

How to check a UK VAT number

The online service for checking a UK VAT number is available at: www.gov.uk/check-uk-vat-number. This service [...]

Check employment status for tax

The Check Employment Status for Tax (CEST) tool can be used to help ascertain if [...]

Check your State Pension forecast

The enhanced Check Your State Pension forecast service is now available online. The service can [...]

Are you claiming the marriage allowance

The marriage allowance can be claimed by married couples and those in a civil partnership [...]

What is a group company structure?

A group is formed when one company has control of, owns, a number of subsidiary [...]

Is your income over £100,000?

If you earn over £100,000 in any tax year your personal allowance is gradually reduced [...]

Connected persons for tax purposes

The definition of a connected person for tax purposes varies. A statutory definition of “connected [...]

Tax and employee share schemes

There are a number of government approved share schemes which offer various incentives to employees. [...]

Tax relief for training costs

If you are self-employed it is important to know if an expense is tax allowable. [...]