HMRC uses the 'badges of trade' tests to assist in determining whether an activity is a legitimate economic transaction/business or simply a...
The badges of trade
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Income Tax Articles
Marriage allowance entitlement
Eligibility and Benefits The marriage allowance applies to married couples and those in a civil partnership where a spouse or civil partner does...
Summary of Companies House changes
Effective October 26, 2023, the Economic Crime Act empowers Companies House to combat abuse, streamline filings, enforce identity verification, and...
Tax relief for R&D intensive SMEs
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Enterprise Investment Scheme investee businesses
The Enterprise Investment Scheme (EIS) supports smaller trading companies by offering tax reliefs to investors buying new shares. Qualifying criteria...
Corporation Tax marginal rate
As of April 1, 2023, UK Corporation Tax: 25% for profits over £250,000, 19% Small Profits Rate for up to...
NIC changes for employees from 6 January 2024
Chancellor’s Autumn Statement: Employee National Insurance cut by 2% from Jan 6, 2024, benefiting 27 million. Examples show potential savings,...
NIC changes for the self-employed
Chancellor’s Autumn changes for self-employed: Removes Class 2 NIC for profits over £12,570, and cuts Class 4 NIC by 1%...
Directors’ duties and responsibilities
Directors, aged 16 and above, handle responsibilities like filing accounts, reporting changes, and paying taxes. Follow your company’s constitution, promote...
ECOVIS rises up the Accountancy Age Top 50+50 rankings
The list of the Top 100 Accountancy Firms for 2023 has been unveiled, and we are thrilled to announce that...
Gifts of shares to minor (under 18s) children
Settlement legislation attributes a settlor’s retained interest to their income for tax purposes. Exceptions apply in common scenarios like gifts...