How to Avoid Falling Foul of MTDfV Penalties
What are the main HMRC penalties for not complying with Making Tax Digital for VAT (MTDfV) and how can you avoid them?
DetailsWhat are the main HMRC penalties for not complying with Making Tax Digital for VAT (MTDfV) and how can you avoid them?
DetailsAre you eligible for HMRC’s extended Making Tax Digital (MTD) Income Tax Self Assessment (ITSA) Pilot scheme, and is it worth signing up early before it becomes compulsory?
DetailsWriting off an overdrawn director’s loan account can be tax efficient. The trouble is it can come with a large NI bill. Is there a more tax and NI efficient option?
DetailsThe Russia-Ukraine conflict has displaced millions of people. The government has now announced details of a tax-exempt scheme aimed at those who wish to offer accommodation to refugees. What’s the full story?
DetailsWith IR35 hitting the headlines again. We take a closer look at two of the most high profile IR35 cases, and highlight the key learnings SMEs can take away.
DetailsInterest rates are at their highest level since 2009. What is the full story and what does this mean for payments due to HMRC?
DetailsAs we emerge into the spring sunshine, many companies are now planning to go back to face-to-face dinners, golf and events. So, let’s have a quick refresher on what you can claim.
DetailsThe government introduced several easements in response to the coronavirus pandemic. These were temporary measures that are set to end on 5 April. What do employers need to know?
DetailsThe National Insurance (NI) rates and thresholds are reviewed each year. HMRC has recently published the applicable amounts for the forthcoming 2022/23 year. What are the most important points for our clients to know?
DetailsThe National Insurance (NI) rates and thresholds are reviewed each year. HMRC has recently published the applicable amounts for the forthcoming 2022/23 year. What are the most important points for our clients to know?
DetailsAnyone who has tax to pay on the disposal of a UK residential property must complete a special capital gains tax (CGT) return and make a payment within a short space of time.
DetailsThe standard deadline for individuals filing a tax return is 31 January. Failure to meet this deadline usually means a £100 automatic penalty applies, even if no tax is owed. Why will an HMRC announcement bring relief to those struggling due to the pandemic?
DetailsIn some situations married couples and civil partners can elect how they split their joint income for tax purposes. It’s a useful tax-planning tool, but the drawback is that once made an election can’t be revoked. Is there a way around this?
DetailsHave you considered if your employee expenses procedure is up to scratch? Naturally, you want to keep costs as low as possible, and having a solid system in place to review employee expenditure claims should be part of that strategy.
DetailsHMRC updates its advisory rates for business miles undertaken in company cars quarterly. The latest figures are now available – what impact has the recent rise in fuel costs had?
DetailsIf you work in the construction sector,
you’re probably already familiar with the
Construction Industry Scheme (CIS).
But why should you outsource your CIS payroll?
The furlough scheme ended on 30 September 2021 and several other temporary coronavirus measures, including for stamp duty land tax (SDLT), came to an end at the same time. What do you need to warn your clients about?
DetailsThe Chancellor struck a very upbeat tone in the second Budget of 2021, increasing spending pledges significantly. But what were the key tax announcements?
DetailsBoris Johnson announced that NI and dividend tax rates will be hiked to help fund social care, pay for coronavirus support measures and clear the NHS backlog. Who will be affected and by how much?
DetailsOn the surface, construction is booming with residential property projects dotting the urban landscape. But there is also a growing crisis as the sector is squeezed by global supply chain issues, skills shortages, and skyrocketing prices.
DetailsThe government plans to demand quarterly or monthly tax payments from companies and individuals who pay tax through self-assessment. It won’t happen for at least two years. Have your say by responding to the consultation.
DetailsSpecial rules apply to directors’ NI contributions. Normally they go unnoticed, but in a year that has been many directors cut their salary this might result in too much NI being paid.
DetailsOscar Fairchild responds to Chancellor Rishi Sunak’s 2021 Spring Budget
DetailsPostponed VAT accounting can help with cash flow, but what two key things must you do before you can use it?
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