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Anti-avoidance

Anti-avoidance Gains on shares, even in UK-based companies, are only taxable if the person making the disposal is UK resident at the time of the disposal (subject to certain rules for temporary... more


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Holdover Relief Tax Trap

Holdover Relief Tax Trap Some small company owners bring in adult children to take over the day to day running of the business as they approach retirement. There are many strategies used in pra... more


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Does an employee loan always need reporting to HMRC?

Does an employee loan always need reporting to HMRC? Employee loans are an area where businesses often get confused. The first thing many owners will think of is the temporary corporation tax c... more


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VAT - Charged Too Much?

VAT - Charged Too Much? Suppose that a business has been paying its suppliers' invoices for many years without really giving too much thought to the VAT being applied. The business engages ... more

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Business Rate Relief Abuse

Business Rate Relief Abuse A perceived loophole that allows owners of multiple properties to avoid council tax is to be closed from April 2023. Under the current system, those who own second (o... more


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Late tax returns

Late tax returns On 7 January, HMRC announced that there would be no automatic late filing penalties provided that tax returns are filed by midnight on 28 February 2022. Anyone looking to take ... more


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HMRC scam reports drop

HMRC scam call reports drop by 97% Reports of scam HMRC phone calls have fallen by 97% over the last 12 months, according to the latest figures from the tax authority. According to HMRC, re... more

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113
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Consumer group urges taxpayers to avoid using refund firms to claim tax rebates

Consumer group urges taxpayers to avoid using refund firms to claim tax rebates The consumer group Which? has urged taxpayers to avoid using so-called 'refund firms' to claim tax rebate... more


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Pandemic support grants paid to companies must be included on company tax returns

Pandemic support grants paid to companies must be included on company tax returns HMRC has advised that businesses must declare any pandemic support grants or payments on their company tax retu... more


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Government Launches Help to Grow: Digital Scheme – designed to support businesses in their adoption

Government Launches Help to Grow: Digital Scheme – designed to support businesses in their adoption of digital technologies The scheme is one of several, government-led, initiatives aimed... more


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Tax Free Childcare Scheme (TFCS)

Tax Free Childcare Scheme (TFCS) What is the aim of the TFCS? To support eligible families with their childcare costs. What is the financial benefit of the TFCS? For every... more


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Late Payment Interest Rates

Late Payment Interest Rates HMRC will be increasing their interest rates for late payment of tax to 3% from 14 February for quarterly tax payments and 21 February for non-quarterly payments.&nb... more


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New HMRC Late Payment Penalty (LLP) Regime

New HMRC Late Payment Penalty (LLP) Regime What is the aim? To bring the LPP regime in line for both VAT and income tax. When will the new penalty regime start? For VAT &n... more


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We are currently do our VAT returns under MTD does that mean we're already set up for MTD for Corpor

We have been reporting our VAT returns under MTD since April 2021. As our systems are already set up and compliant with this, am I right in assuming we will already be set up for MTD for Corporatio... more


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Can I switch back to standard VAT accounting from cash accounting?

I've decided that the cash accounting scheme isn't working for my business anymore. I'm intending to revert to standard VAT accounting from the start of the next VAT period. Do I need t... more