Statutory maternity, adoption, paternity, shared parental and sick pay to rise from April 2020
According to proposals set out in a government policy paper, the revised rates for statutory maternity pay (SMP), statutory adoption pay (SAP), statutory paternity pay (SPP), ... Read More
Tax allowances you can claim for business cars
Capital Allowances allow your business to secure tax relief for certain capital expenditure. Qualifying expenditure on cars must usually be allocated to one of two general pools of ... Read More
On your bike – tax free cycling
There are special rules involving bicycles for work use, usually referred to as 'Cycle to Work' arrangements. The Cycle to Work scheme was introduced almost 20 years ago to ... Read More
Public transport costs and tax
There are certain tax rules that it is important to consider if you pay for the public transport costs of your employees. The provision of public transport costs includes season ... Read More
Money laundering and terrorist financing
The money laundering rules are designed to protect the UK financial system and put in place certain controls to prevent businesses being used for money laundering by criminals and ... Read More
What qualifies for First Year Allowances?
Businesses can claim a 100% first-year allowance (FYA) on the purchase of certain qualifying Plant and Machinery (P&M). The cash-flow benefit of accelerated tax relief is ... Read More
VAT - what is a limited cost trader?
The VAT Flat Rate Scheme (FRS) has been designed to simplify the way a business accounts for VAT and in so doing reduce the administration costs of complying with the VAT ... Read More
Close down a company by striking it off the register
There are a limited range of circumstances when a company can request to be removed from the register (known as being struck off). For example, a voluntary strike-off can be ... Read More
Did you file your tax return on Christmas Day?
A new press release by HMRC has highlighted the fact that 3,003 taxpayers took the time to file their tax return online on Christmas Day with a further 9,254 taxpayers completing ... Read More
Last reminder for parents with income in excess of £50,000
Parents could be liable for the High Income Child Benefit tax charge if either partner's income exceeds £50,000 and you are in receipt of child benefit. The charge ... Read More
Don’t forget to pay tax on or before 31 January 2020
The 31 January 2020 is not just the final date for submission of your Self-Assessment tax return for 2018-19 but is also an important date for payment of tax due. This is the final ... Read More
Carry forward unused pension tax allowance
The annual allowance for tax relief on pensions is currently set at £40,000. The annual allowance is further reduced for high earners. If your income is in excess of ... Read More
Budget date announced
The Chancellor of the Exchequer, Sajid Javid has announced that he is planning to hold his first Budget on Wednesday, 11 March 2020.
This announcement follows a turbulent period ... Read More
Big changes following loan charge review
The Government has revealed that a number of important changes will be made to the loan charge following the independent review of the disguised remuneration loan charge policy and ... Read More
New funding for farmers announced
Over the Christmas and New Year break, the Chancellor announced that nearly £3 billion of funding is to be put in place to help support farmers once the UK leaves the EU. ... Read More