Latest Thinking

HMRC uses a number of different measures to help determine whether an activity is a trade irrespective of whether the activity leads to a profit or a loss. This includes...

National Insurance credits can help qualifying applicants fill gaps in their National Insurance records. This can assist taxpayers to build the number of qualifying years of National Insurance contributions which...

If you are an employee working from home, you may be able to claim tax relief for some of the bills you pay that are related to your work. Employers...

One of the announcements by HMRC at the start of the coronavirus pandemic was the introduction of emergency measures to help those affected by COVID-19 using the existing Time to...

If you receive no compensation from your employer for work related expenses you have paid, you can still claim tax relief for some expenses that relate to working from home....

1 March 2022 – Due date for Corporation Tax due for the year ended 31 May 2021. 2 March 2022 – Normally Self-Assessment tax for 2020-21 would need to be...

If your property has changed or seems mis-banded, you may have the right to request a Council Tax review. Properties in England and Wales are assigned Council Tax bands based...

There are special VAT rules that allow businesses to standard rate the supply of most non-residential and commercial land and buildings (known as the option to tax). This means that...

One of the less well-known ways of paying your Self-Assessment tax bill is to do so through your tax code. This can only be done where all the following apply:...

The car fuel benefit rules only apply to company cars that attract a car benefit tax charge. This means the rules do not apply to fuel provided for use in...

HMRC used Valentine’s Day to issue a reminder to married couples and those in civil partnerships to sign up for the marriage allowance – if they are eligible and haven’t...

The Competition and Markets Authority (CMA) has launched a new campaign to help shoppers spot and avoid misleading online practices that could result in them being ripped off. If the...

The Charity Commission requires that charities registered in England or Wales must send an annual return to report their income and expenditure. The deadline for charities with a standard 12-month...

Taxpayers who make donations to charities in other countries can qualify for tax relief in the UK under certain circumstances. This means that UK charitable tax reliefs are available to...

HMRC has confirmed that more than 10.2 million people submitted their 2020-21 Self-Assessment tax returns by the 31 January deadline. This leaves over 2.3 million taxpayers or 19% that have...

The introduction of Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) is now set to commence from April 2024. MTD for ITSA will fundamentally change the way businesses, the...

The Chancellor, Rishi Sunak delivered a statement to the House of Commons on 3 February 2022 announcing a number of measures to help people cope with fast rising energy costs....

Some businesses and agents are already keeping digital records and providing updates to HMRC as part of a live pilot to test and develop the MTD for ITSA. Under the...

Newly self-employed taxpayers should notify HMRC as soon as practicable when they begin working for themselves. However, HMRC must be officially notified by 5 October following the end of the...

Where a property business makes a loss, the loss can usually be carried forward and set against future rental business profits. HMRC’s guidance is clear that any losses made in...

Inheritance Tax (IHT) is a tax that is levied on a person’s estate when they die and can also be payable during a person’s lifetime on certain trusts and gifts....

There are special rules, under which a VAT-registered business can sell certain goods and services to charities at the zero or reduced rate of VAT. Before charging VAT at a...

The P9X form is used to notify employers of the tax codes to use for employees. The latest version of the form has been published and shows the tax codes...

There are a multitude of rules and regulations that you must be aware of when you start employing staff for the first time. HMRC’s guidance sets out important issues to...

The Secretary of State for Business, Energy & Industrial Strategy has written a letter to local authorities in England urging them to help support businesses in the hospitality and leisure...

1 February 2022 – Due date for Corporation Tax payable for the year ended 30 April 2021. 19 February 2022 – PAYE and NIC deductions due for month ended 5...

The new Plastic Packaging Tax will come into effect from 1 April 2022. The tax will not apply to any plastic packaging which contains at least 30% recycled plastic, or...

The Construction Industry Scheme (CIS) is a set of special rules for tax and National Insurance for those working in the construction industry. Businesses in the construction industry are known...

The VAT Flat Rate scheme has been designed to simplify the way a business accounts for VAT and in so doing reduce the administration costs of complying with VAT legislation....

There are special rules to help ensure that goods sent from abroad are taxed appropriately and to ensure that UK businesses supplying goods in the UK, for example by having...