News – Tide Accounting

Is there a partnership in place?

A partnership is a reasonably straightforward way for two or more legal persons to establish [...]

Not so Trivial Tax Benefits

There is a trivial benefit-in-kind (BiK) exemption for small, non-cash employee benefits. This exemption applies [...]

Two October self-assessment deadlines

The deadline for submitting paper self-assessment tax returns for the 2023-24 tax year is 31 [...]

Pension Credit action week

Pension Credits can provide extra income to those over State Pension age and on a [...]

Fraudsters impersonating Insolvency Service staff

The Insolvency Service is a government agency that provides services to those affected by financial [...]

What is a PSC?

PSC stands for Person with Significant Control. It is a legal term used primarily in [...]

Trade Mark protection

To apply for trademark protection in the UK, you will need to follow these steps: [...]

When dividends cannot be paid

There is a basic principle that dividends or other distributions must not be paid out [...]

Employing an apprentice

There are special rules to observe when employing an apprentice in the UK. Basically, an [...]

MTD for Income Tax draws closer

The mandatory rollout of Making Tax Digital for Income Tax (MTD for ITSA) is scheduled [...]

Myths about self-assessment

In a recent press release, HMRC addressed some common misconceptions about who needs to file [...]

Claims to reduce payments on account

Self-assessment taxpayers are usually required to pay their Income Tax liabilities in three instalments each [...]

Ask for advice

Asking your accountant for advice offers a range of benefits, particularly in guiding both business [...]

Beware overtrading

Overtrading occurs when a business expands its operations at a pace that exceeds its available [...]

Tax Diary October/November 2024

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

Qualifying for Business Asset Disposal Relief

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

Claiming Child Trust Fund cash

If you turned 18 on or after 1 September 2020, there may be cash waiting [...]

Employing under 16-year-olds and young workers

When a new employee is added to the payroll it is the employers' responsibility to [...]

Self-assessment deadlines 2023-24

The deadline for submitting paper self-assessment tax returns for the 2023-24 tax year is 31 [...]

Penalties for late filing of company accounts

There are late filing penalties which are designed to encourage companies to file their accounts [...]

Could an interest rate reduction reduce government expenditure?

A 1% reduction in the Bank Rate would reduce the UK government's annual interest charges [...]

What is the new National Wealth Fund

The UK's new National Wealth Fund (NWF) represents a significant shift in the government's approach [...]

Negative equity

Negative equity occurs when the value of an asset, typically a property, falls below the [...]

Business sectors subject to AML regulation

In the UK, certain business sectors are required to register with a regulatory body, such [...]

CGT Gift Hold-Over Relief

Gift Hold-Over Relief is a tax relief that defers the payment of Capital Gains Tax [...]

Medical and dental care for employees

There is no requirement for employers to pay tax and National Insurance on certain health [...]

Carry forward a company trading loss

There are a significant number of reliefs available to businesses that suffer losses. Certain losses [...]

Could you claim Pension Credits?

Pension Credits can provide extra income to those over State Pension age and on a [...]

Claim tax deduction for working from home

Employees who are working from home may be eligible to claim a tax deduction on [...]

Advising HMRC about additional income

There is an online tool available on GOV.UK that allows taxpayers to check if they [...]

Tips at work

Tips received at work do not count towards your earning for the purposes of the [...]

Definition of living together

There are many tax reliefs available to married couples or civil partners. In many cases, [...]

Late filing penalties VAT returns

The VAT penalty regime that applies to the late submission and / or late payments [...]

No change to Corporation Tax rates?

The Corporation Tax Main Rate applies to companies with profits exceeding £250,000 and is currently [...]

Update on High Income Child Benefit Charge

Changes to the High Income Child Benefit Charge (HICBC) came into effect on 6 April [...]

What is an appropriate address for a company?

One of the key changes introduced as part of the Economic Crime and Corporate Transparency [...]

Persistence pays off

Persistence in following up leads is a crucial trait in many fields, especially in sales [...]

Paying tax via your tax code

You may be able to have tax underpayments collected via your tax code when you [...]

What is Gift Hold-Over Relief?

Gift Hold-Over Relief defers the payment of Capital Gains Tax (CGT). It can be claimed [...]

IHT unused Residence Nil Rate Band (RNRB)

The Inheritance Tax Residence Nil Rate Band (RNRB) is a transferable allowance available to married [...]