Blog

Close down a company by striking it off the register

There are a limited range of circumstances when a company can request to be removed from the register (known as ...
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VAT – what is a limited cost trader?

The VAT Flat Rate Scheme (FRS) has been designed to simplify the way a business accounts for VAT and in ...
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What qualifies for First Year Allowances?

Businesses can claim a 100% first-year allowance (FYA) on the purchase of certain qualifying Plant and Machinery (P&M). The cash-flow ...
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Money laundering and terrorist financing

The money laundering rules are designed to protect the UK financial system and put in place certain controls to prevent ...
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Public transport costs and tax

There are certain tax rules that it is important to consider if you pay for the public transport costs of ...
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On your bike – tax free cycling

There are special rules involving bicycles for work use, usually referred to as 'Cycle to Work' arrangements. The Cycle to ...
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Tax allowances you can claim for business cars

Capital Allowances allow your business to secure tax relief for certain capital expenditure. Qualifying expenditure on cars must usually be ...
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CGT – Gift Hold-Over Relief

Gift Hold-Over Relief is a relief that defers Capital Gains Tax (CGT) when assets are given away (including certain shares) ...
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Getting clients ready for Brexit

HMRC has published a useful list to help businesses be prepared to import goods from the EU to the UK ...
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New funding for farmers announced

Over the Christmas and New Year break, the Chancellor announced that nearly £3 billion of funding is to be put ...
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Big changes following loan charge review

The Government has revealed that a number of important changes will be made to the loan charge following the independent ...
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Budget date announced

The Chancellor of the Exchequer, Sajid Javid has announced that he is planning to hold his first Budget on Wednesday, ...
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Carry forward unused pension tax allowance

The annual allowance for tax relief on pensions is currently set at £40,000. The annual allowance is further reduced for ...
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Don’t forget to pay tax on or before 31 January 2020

The 31 January 2020 is not just the final date for submission of your Self-Assessment tax return for 2018-19 but ...
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Last reminder for parents with income in excess of £50,000

Parents could be liable for the High Income Child Benefit tax charge if either partner's income exceeds £50,000 and you ...
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Did you file your tax return on Christmas Day?

A new press release by HMRC has highlighted the fact that 3,003 taxpayers took the time to file their tax ...
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Tax Diary January/February 2020

1 January 2020 - Due date for Corporation Tax due for the year ended 31 March 2019. 19 January 2020 ...
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Paying wages to connected persons

The definition of a connected person for tax purposes includes certain relatives, trustees, partners and companies. A person is connected ...
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Basis periods and change of accounting date

HMRC’s guidance lists the following useful examples about a change of accounting date: If your accounting date in 2016 to ...
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What is reasonable care

The inaccuracy penalty system is intended to make penalties simpler to understand and more consistent across many taxes. HMRC has ...
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Exemptions from CGT

Capital Gains Tax (CGT) is a tax on the profit made on the disposal of an asset that has increased ...
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Top up your pension pots

You can claim tax relief for your private pension contributions. The current annual allowance for tax relief on pensions is ...
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Take advantage of the Annual Investment Allowance

The Annual Investment Allowance (AIA) allows business owners to claim the total amount of qualifying expenditure on plant and machinery, ...
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Penalties for late filing of Self-Assessment tax returns

The 31 January is not just the final date for submission of your Self-Assessment tax return but also an important ...
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