Latest Thinking

The Inheritance Tax residence nil rate band (RNRB) is a transferable allowance for married couples and civil partners (per person) when their main residence is passed down to a direct...

Most smaller businesses will have spent time chasing customers for payment beyond their agreed payment terms. These demands take entrepreneurs away from their core tasks of business building and place...

The government looks likely to accept the recommendations of the Low Pay Commission with a boost to the National Living Wage rate. In summary: National Living Wage will rise to...

HMRC has published their latest statistics on Child Trust Funds (CTFs) that reveal that whilst around 500,000 accounts have now matured, there remains some 430,000 funds that have matured but...

The Community Investment Tax Relief (CITR) scheme is designed to encourage investment in accredited Community Development Finance Institutions (CDFIs). The tax relief under the scheme is available to both individuals...

The furnished holiday lettings (FHL) rules allow holiday letting of properties that meet certain conditions to be treated as a trade for specific tax purposes. In order to qualify as...

There are a number of reasons why you might need to complete a self-assessment tax return. This includes if you are self-employed, a company director, have an annual income over...

The replacement of domestic items relief enables landlords to claim tax relief when they replace movable furniture, furnishings, household appliances and kitchenware in a rental property. The allowance is available...

Organisations across the country will be able to demonstrate that their new artificial intelligence and digital innovations meet regulatory requirements so they can quickly bring them to market. In their...

The Charity Commission has launched the next phase of its trustee campaign which aims to increase charity trustees’ knowledge and drive a positive change in charities’ governance. The campaign encourages...

Companies may use incentive award schemes to encourage their employees in various ways. For example, to sell more of their own goods and services. The award can be in forms...

Usually, if you sell an asset for less than you paid for it you would make a capital loss. As a general rule, if the asset would have been liable...

The term ‘capital allowances’ is used to describe the allowances available to businesses to secure tax relief for certain capital expenditure. The rules that govern the purchase of capital equipment...

The Economic Crime and Corporate Transparency Bill has completed its initial journey through the House of Commons and the House of Lords and is now at the stage known as,...

There are a number of conditions that must be satisfied for an activity to be within the scope of UK VAT. An activity will fall within the scope of VAT...

There are special rules concerning the transfer of assets in groups of companies. In most cases, this means that where assets are moved around group companies, there are no immediate...

Due to new legislation working its way through Parliament, Companies House will be making a number of significant changes. In a recent blog post, they made the following announcement: We’re...

It is possible to pay HMRC by corporate credit card or corporate debit cards. The use of these cards is subject to a fee. Payment by personal debit cards is...

A trust is an obligation that binds a trustee, an individual or a company, to deal with assets such as land, money and shares which form part of the trust....

Where an employee with a company car is provided with fuel for their own private use by their employers, the default position is that the employee is required to pay...

The Chancellor, Jeremy Hunt, has announced that he will deliver his Autumn Statement to the House of Commons on Wednesday, 22 November 2023. This move would imply that the annual...

HMRC offers an online service to check your National Insurance Contributions (NIC) record online. In order to use the service, you will need to have a Government Gateway account. If...

1 October 2023 – Due date for Corporation Tax due for the year ended 31 December 2022. 19 October 2023 – PAYE and NIC deductions due for month ended 5...

The Department for Business and Trade published the following announcement, that if implemented, should reduce the present trend to publish fake reviews and charge hidden fees at point of sale....

Companies House have published information that suggests their fees may be increasing in the near future. And it’s all to do with the ECCT Bill currently passing through parliament. To...

There is a benefit-in-kind (BiK) trivial exemption that applies to small non-cash benefits like a bottle of wine, or a bouquet of flowers given occasionally to employees, or any other...

Business Asset Disposal Relief (BADR) applies to the sale of a business, shares in a trading company or an individual’s interest in a trading partnership. Where this relief is available...

There are special rules that must be followed when goods are taken temporarily outside of Great Britain (England, Scotland and Wales). As a general rule, when goods are moved, they...

Ever had a nagging feeling that you have a pension pot somewhere but have no idea how to track it down? Well, there is a solution. There is a search...

Companies House has issued a news update targeted at companies who are due to file accounts by the end of September 2023. Generally, this would be for accounts ending 31...