
Important Tax Deadlines & Events (Updated For 2025)
As we step into 2025, it’s crucial to stay on top of key tax dates to keep your financial affairs in order. Here’s a friendly
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As we step into 2025, it’s crucial to stay on top of key tax dates to keep your financial affairs in order. Here’s a friendly
These are the suggested reimbursement rates for employees’ private mileage using their company car from 1 December 2019. Where there has been a change the previous rate is shown in brackets.
It is that time of year again for staff parties and annual functions, so it is important to make sure you record it properly.
This time of year we need to consider gift giving and tax. It is easy during the Christmas period to to be generous, but most of us feel we are quite generous enough to the taxman during the rest of the year.
In 4 weeks time, it is Christmas Jumper day! In the 20 working days leading up to the day our team will be taking on the challenge of 20,000 press ups
As we come to the end of 2021, its time to start thinking about the budget for next year. One thing is certain – uncertainty.
Business planning and budgeting have become increasingly complex in today’s uncertain and volatile environment. Firms have had to adapt and become more agile in order to react quickly to changing market conditions and budgets should be created with this in mind.
We have compiled a list of tax-free benefits and perks you can provide an employee. These perks are completely free of tax and National Insurance Contributions (NICs).
With more employees going back to work after the end of CJRS furlough support, they need to start thinking about childcare if they have children.
Having listened to stakeholder feedback from businesses and the accounting profession, the government have announced that they will introduce Making Tax Digital (MTD)
The capital allowance legislation specifically denies tax relief for plant and machinery installed in a dwelling house. However, plant and machinery installed in the common areas of blocks of flats such as hallways, stairs and lift shafts would qualify as the flats themselves are the dwellings not the building as a whole.
The Prime Minister announced on 7th September that the government will introduce a new 1.25% Levy to provide an extra £12 bn a year to support the NHS and social care.
If you are notifying HMRC of a decision to opt to tax land and buildings, you are normally required to notify HMRC within 30 days. The 30 day deadline was temporarily extended to 90 days to help businesses and agents during
HMRC have recently updated their guidance on accounting for VAT on goods imported from outside the UK which, since Brexit, includes the European Union.
Last month we mentioned that draft legislation has been published to change the basis periods for the assessment of self-employed profits to coincide with the tax year.
The temporary 5% VAT rate that has applied to supplies made in the tourism and hospitality sector since the start of the pandemic comes to an end at the end of September.
The Government are pulling the plug on support to employers for furloughed staff at the end of September as they anticipate that the economy will be back to normal by October.
Making tax Digital coming soon for income tax:
VAT registered business making taxable supplies above the £85,000 registration threshold have been grappling with Making Tax Digital (MTD) since April 2019. The next roll-out will be the introduction of MTD for income tax which is scheduled to start in April 2023.
HMRC suggest organisations use their Check Employment Status for Tax (CEST) tool on their website to check the worker’s status, although that is not obligatory.
The fifth (and final) SEISS grant will be available for the self-employed to claim towards the end of July. HMRC will contact those traders that may be eligible with their claim date.
Where a company makes a trading loss of no more than £200,000 in an accounting period it is now possible to claim relief for that loss even though the corporation tax return CT600 has not been submitted.
HMRC are currently attacking a marketed tax avoidance scheme using unfunded pension arrangements to avoid Corporation Tax,
Pension contributions to approved pension funds on behalf of employees and directors continue to be a tax-free benefit provided the annual input limit is not breached.
If you have children under 12 who attend a nursery, after school club, playscheme, childminder or you are considering sending them to a summer camp you should think about setting up a tax-free childcare account.
The fifth (and final) Self-Employment Income Support Scheme grant SEISS grant will be available for the self-employed to claim towards the end of July.