Read our summary of the Spring Budget 2024, with changes to National Insurance, Child Benefit and second homes…
Conducting year-end work can be difficult to prioritise. Read through our ten strategies that can make your year-end process a more seamless.
Sole traders & partnerships: If your year-end is not 31 March or 5 April, HMRC is changing how it will assess your profits.
As a result of ‘administrative discrepancies’ by the Department of Work and Pensions (DWP), mothers may have been underpaid around £1bn in state pension. This has occurred due to information missing from the national insurance (NI) records.
There are always competing factors to consider when thinking about your March year-end as a company. How prepared do you feel?
For a round-up of what the Spring Budget contained and how this might affect you, please read our summary of some of the major changes.
You may recall that a new Plastic Packaging Tax was announced in the 2020 Budget. The legislation is now before Parliament so we have
The 'badges of trade' tests, whilst not conclusive, are used by HMRC to help determine whether an activity is a proper economic / business activity or merely a money-making side-line to a hobby. Eventually, taxpayers may have to decide if
HMRC has published a useful list to help businesses be prepared to import goods from the EU to the UK as we count down to the 31 January 2020 Brexit date. We are then likely to see a fixed transition period until 31 December 2020 by the end of which
The inaccuracy penalty system is intended to make penalties simpler to understand and more consistent across many taxes. HMRC has the power to significantly reduce the amount of penalties due. The largest reductions are for unprompted disclosures (as
The holder of a scholarship is exempt from a charge to Income Tax on income from a scholarship when receiving full-time education at a university, college, school or other educational establishment.
Please note, that the provision of a scholarship
There are special rules, known as the miscellaneous income sweep-up provisions, that seek to charge tax on certain income. This unusual provision, which is broad in scope, catches certain income that would not otherwise be charged under specific
