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It is crucial to stay on top of key tax dates to keep your financial affairs in order. Here’s a friendly reminder of the important tax deadlines this year.
Discover the suggested reimbursement rates for employees’ private mileage using their company car.
Now is the perfect time to review your finances and make sure you’re making the most of available tax reliefs and allowances.
It is that time of year again for staff parties and annual functions, so it is important to make sure you record it properly.
Making tax digital (MTD) for income tax self-assessment (ITSA) was originally scheduled to start in 2018 and was then put back to 2023 and then 2024.
Having listened to stakeholder feedback from businesses and the accounting profession, the government have announced that they will introduce Making Tax Digital (MTD)
The Government’s Tax-Free Childcare Account offers parents a 25% top-up on childcare costs.
An employer may provide subsidised or free meals for its staff tax-free. Employer subsidised meals must be:
– Available to all staff.
– Made available either at a canteen or on the employer’s premises.
Travelling from home to an employee’s normal workplace does not qualify for tax relief. This is referred to as “ordinary commuting and, furthermore, if the costs of the journey are reimbursed by the employer, those costs are taxable. There are exceptions to this rule, in particular where the employer pays for the employee to travel home in a taxi safely late at night.
Many company owners work from home, this note looks at how you may obtain tax relief on the cost of converting the spare room or building a deluxe summerhouse to serve as an office in the garden.
• A director can reclaim any expenses incurred when working from home from their company.
If you’re an employee who incurs work-related expenses that haven’t been reimbursed by your employer, you could be eligible for Income Tax relief.
Whether or not an employee’s home is a workplace does not affect the availability of tax relief for travel expenses. Travel expenses from home to a permanent workplace will only qualify for tax relief if the journey qualifies as travel in the performance of the duties of the employment.
Selling your business or planning to restructure your assets? With CGT rates rising over the next two tax years, the timing of your decisions could make a big difference to your final tax bill.
HMRC is stepping into the future with a raft of changes aimed at making things more efficient, more digital, and (hopefully) more straightforward
It is crucial to stay on top of key tax dates to keep your financial affairs in order. Here’s a friendly reminder of the important tax deadlines this year.
As of 6 April 2025, the Furnished Holiday Lettings (FHL) tax regime has officially been abolished. If you own a holiday let, this means the special tax treatment that once applied to FHLs no longer exists.
Discover the suggested reimbursement rates for employees’ private mileage using their company car.
From 6 April 2025, significant changes are coming to Employer National Insurance Contributions (NICs) – and it’s important to be aware of how these updates could affect your payroll costs.
Now is the perfect time to review your finances and make sure you’re making the most of available tax reliefs and allowances.
In order that we can help predict your taxable profits and tax liabilities we need up to date profit figures and projections.
In the March 2021 Budget, it was announced that the normal one year carry back for trading losses would be extended to three years.
With just over a year to go before Making Tax Digital for Income Tax (MTD for IT) becomes mandatory, now is the time to check whether your business will need to comply from 6 April 2026.
As an entrepreneur, you’re juggling countless tasks, from developing your product to securing your first customers. Amidst all the hustle, managing your finances effectively is crucial.
The Annual Investment Allowance (AIA) is now permanently set at £1million. This means that businesses can claim tax relief at 100% on up to £1million of expenditure on qualifying plant and machinery (e.g. capital equipment).
Making Tax Digital (MTD) for Income Tax will apply to sole traders, property landlords and certain other businesses with gross turnover and/or property income over £10,000 a year and will commence in April 2024.