News

Labour win landslide election result

As had been widely predicted, the results at the polls have seen the Labour Party back in power after 14 years in opposition. Labour have swept into power with their second-largest majority whilst the Conservative Party have had their worst ever

Are mega sized marshmallows zero-rated?

In the UK most basic food stuffs are zero rated. However, the definition of ‘basic’ is not straightforward and many...

Business VAT responsibilities

The taxable turnover threshold that determines whether businesses should be registered for VAT is currently £85,000. Businesses with turnover below...

Restarting a dormant company

HMRC must be informed when a non-trading or dormant company restarts trading and becomes active for Corporation Tax purposes. Companies...

Company filing obligations

It is important that anyone responsible for the accounts and tax filing regime for private limited companies is aware of...

Inheritance and tax

As a general rule, an individual who inherits property, money or shares is not liable to pay tax on the...

Labour win landslide election result

As had been widely predicted, the results at the polls have seen the Labour Party back in power after 14...

Exit plans

Exit can be seen as quitting, especially if the exit discussed is your business interests. But actually, business exit planning...

New government

Our new government, and in particular, Rachel Reeves, the new Chancellor, will be responsible for raising the funds that our...

Statutory redundancy pay

If you have been in the same job for two years or more and are made redundant you will usually...

Claim full expensing or 50% FYA

Full expensing offers a 100% first-year capital allowance for qualifying plant and machinery assets, reducing taxes for companies subject to...

Late night taxi for an employee

Employers have a duty of care to ensure employee wellbeing, which can include providing transport home during unsocial hours. While...

Income Tax in Scotland

The Scottish rate of income tax applies to non-savings and non-dividend income of Scottish taxpayers, defined by their close connection...

What your tax code means

Your tax code indicates your eligibility for the tax-free personal allowance. It includes various numbers and letters, each with specific...

CGT Incorporation Relief

Where a taxpayer owns a business as a sole trader or in partnership, a capital gain will be deemed to...

by Sam Baldwin

UK ESG Reporting Requirements in 2024

What your business needs to know about the UK’s ESG reporting requirements in 2024 to align with ESG regulations effectively.

Extracting profits from a small, limited company

Small company directors typically take a small salary and dividends as remuneration. They also have options to extract profits through...

Translation

If you receive documents from overseas customers or suppliers and you need to translate text into English, have you used...

Tax Diary August/September 2024

Stay on top of your tax obligations with key dates in August and September 2024 for corporation tax, PAYE, NIC...

Private rental deposits

There are special rules under the Tenancy Deposit Scheme that limits the amount of deposit that landlords in England can...

How to check a UK VAT number

The online service for checking a UK VAT number is available at: www.gov.uk/check-uk-vat-number. This service can be used to check:...

Check employment status for tax

The Check Employment Status for Tax (CEST) tool can be used to help ascertain if a worker should be classified...
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