2024-04-27 09:59
The strict application of the rule for allowable expenses would require all expense payments to employees to be treated as employment income, leaving the employee to claim relief for the all… Read More
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2024-04-25 12:53
What is disguised remuneration? Disguised remuneration refers to tax avoidance schemes where employers pay employees in non-traditional ways. These schemes have been widely used by contracto… Read More
2024-04-24 10:10
Imagine a scenario where your investment not only generates financial returns but also creates a positive impact on society. That’s precisely what community investment tax relief offer… Read More
2024-04-22 13:08
What taxes do landlords have to pay in the UK? By being well informed about their tax obligations, landlords can minimise their tax liability, maximise their profits, and ensure compliance w… Read More
2024-04-21 09:22
Unincorporated trading businesses are going through their biggest tax change for a generation, with the switch to a tax year basis of assessment replacing the ‘basis period’ syst… Read More
2024-04-20 07:42
In April 2023, the National Will Register reported that 42% of adults in the UK had not made any provisions for their estate distribution in the event of death. This leads to individuals hav… Read More
2024-04-16 10:20
Is selling a car taxable income? In the UK, cars can indeed be considered assets for Capital Gains Tax purposes, but it depends on the specific circumstances. If a car is used for personal t… Read More
2024-04-14 06:29
Usually, it’s the supplier who issues a VAT invoice; but in some circumstances, the customer prepares the invoice instead and gives the supplier a copy. This system is called ‘se… Read More
2024-04-13 10:28
The exemption from capital gains tax (CGT) for a dwelling that is the taxpayer’s ‘only or main residence’ is an important one for homeowners. The value of the exemption mea… Read More
2024-04-09 08:52
What are tax deductions for influencers? Influencers play a pivotal role in society by creating engaging content and connecting with their followers. However, the unique nature of influencer… Read More
2024-04-08 15:28
In this discussion, we will analyse how to claim driving lessons on tax and see if we can claim it on our tax return. Let’s start with a quick overview of the driving lesson tax deduct… Read More
2024-04-07 09:03
No-one likes to think about their death, so it is perhaps understandable that many people put off drafting their will, and some die without having made a will. Death and intestacy If an indi… Read More
2024-04-04 14:47
To address your query on what is a higher tax bracket in the UK start by clarifying what a “higher tax bracket” is. A higher tax bracket refers to a tax level that applies to inc… Read More
2024-04-03 13:08
Wondering how many accounting firms are there in the UK? Accountancy is a widely established and crucial sector that plays an essential role in the UK’s economic landscape. Accounting… Read More
2024-04-02 10:27
How to claim tax back on the van? Claimed vehicle expenses are eligible for tax relief in the UK. This includes tax deductions for business-related expenses, such as car finance payments, ca… Read More
2024-04-01 09:33
Worried about how to claim your SEIS tax relief? Claiming SEIS tax relief is a valuable and powerful tool for small businesses in the UK. The SEIS tax relief scheme provides significant fina… Read More
2024-03-28 06:13
Wondering about when is the tax deadline for expats? For those living abroad in the UK, taxes can be a highly confusing and complex subject. Exiting the UK does not remove their tax residenc… Read More
2024-03-27 08:31
Businesses grow and change continuously. It’s essential to have an expert financial advisor to help manage and monitor finances. In this discussion, we will explore the role of an acco… Read More
2024-03-26 05:49
Thinking about how to read a balance sheet? A balance sheet is a financial record that provides a comprehensive picture of a company’s financial health at a point in time. Also, the ba… Read More
2024-03-25 10:24
This discussion is based on the tax return deadline. The process of paying taxes and fulfilling all the demands related to it can turn out to be daunting at times. This guide will help you t… Read More
2024-03-23 15:01
Chris Thorpe looks at some considerations when extracting profits out of limited companies.
Once a sole trader or partnership has incorporated, the owner or partners can no longer help thems… Read More
2024-03-21 07:01
Wondering about how to claim SITR? Social Investment Tax Relief (SITR) is a valuable tax relief offered by the UK government to encourage investment in social enterprises. To claim SITR, inv… Read More
2024-03-20 10:39
This discussion aims to explore whether there is a deadline for renewing tax credits in the UK and the potential consequences of missing this deadline. We will delve into the specifics of th… Read More
2024-03-20 09:23
Our discussion is on Capital Gains Tax on property in the UK. We’ll explore the basics of Capital Gains Tax and its implications on property ownership. It will cover exemptions, allowa… Read More
2024-03-19 09:59
In this discussion about how to reclaim your NHS pension, we will explore the process of reclaiming your NHS pension in the UK. We will cover the eligibility criteria, the steps involved in… Read More
2024-03-18 07:42
Creating a successful lead generation strategy for accountants involves understanding the unique needs of the accounting industry and leveraging the right mix of digital and traditional mark… Read More
2024-03-18 06:19
When it comes to managing your business’s finances in the bustling economic landscape of London, the expertise of a skilled accountant can be invaluable. However, one of the first ques… Read More
2024-03-18 05:55
Navigating the financial landscape of London, the heart of the UK’s economy, chartered accountants stand as pivotal figures in shaping the fiscal success of both businesses and individ… Read More
2024-03-17 14:40
Jennifer Adams explores where company owners might get useful short-term loans.
The cheapest personal bank loan rates are double what they were 18 months ago, though this has stabilised rece… Read More
2024-03-16 12:54
Ken Moody highlights some confusion over what exactly are ‘distributions in specie’ and outlines some important tax implications.
I was asked a question recently about a transfer… Read More
2024-03-15 06:12
How much is the insurance premium tax? In recent years, the Insurance Premium Tax (IPT) has become a significant issue in the UK insurance market. With a current rate of 12%, the tax is appl… Read More
2024-03-14 05:56
Finding Your Ideal Financial Partner:
Finding the ideal accountant for your firm might not be as easy as it looks. The UK’s economy comprises different industries and businesses, and w… Read More
2024-03-13 10:54
An accountant is a competent professional who can handle accountancy matters for individuals and businesses, including taxation, payroll management, financial records, cash flow management… Read More
2024-03-13 09:46
Looking for facts about p45 for self-employed? When you leave your job, there can be a lot of administrative tasks that you need to complete. If you were employed, you may need to submit a P… Read More
2024-03-13 07:46
Hiring an accountant is not an ordinary step for the business. You might think you can do it yourself, but its not as easy as it looks.
Hiring a finance advisor is a big leap, and by hiring… Read More
2024-03-10 12:46
Moneeza Siddiqui compares the tax implications of a personal and company car when used in an individual’s employment.
Given the reliance on and impact of cars, special tax rules are in… Read More
2024-03-09 14:09
Andrew Needham looks at the VAT position of service charges on commercial property.
I t is common for leases between landlords and tenants to give details of what services the landlord shall… Read More
2024-03-07 05:47
The EU Community Tax is a form of VAT that is collected on goods and services sold within the EU. This tax supports initiatives such as research and development, infrastructure projects, and… Read More
2024-03-06 10:11
Wondering about the benefits of instant pricing tools for accounting firms? The world of accounting and finance is constantly evolving. As a result, accounting firms face new challenges and… Read More
2024-03-05 08:57
In the ever-changing landscape of business in the UK, accountants play a crucial role in financial management. The benefits of listing in an accountant’s directory can provide numerous… Read More
2024-03-03 12:36
Richard Curtis suggests possible alternatives to salary and dividends.
Many in business will trade through the medium of a limited company and the directors will generally be remunerated by… Read More
2024-03-02 16:08
Time is one of the crucial things that play a vital role in the success and growth of any business. When you search for an accounting firm for your business solutions, everyone claims to off… Read More
2024-03-02 12:07
Mark McLaughlin looks at what ‘by reason of employment’ means and a Supreme Court decision highlighting its significance for tax purposes.
The UK tax system is full of potential… Read More
2024-03-01 14:34
It is important to choosing an accountant and tax advisor for your company with caution. Here is how you can do it.
If it is your first time hiring an accountant or advisor, you should know… Read More
2024-03-01 13:44
Before you take advice from accountants, make sure they are qualified enough and legally authorised for it.
According to a report of a survey by the IFA – Institute of Accountants it w… Read More
2024-03-01 10:40
We have all heard the famous phrase, “It takes a village to raise a child.” The same goes for running a business successfully. It isn’t easy to grow a business solely based… Read More
2024-03-01 09:36
Thinking about the difference between paper and online tax returns? Tax returns are a necessary part of being a business owner in the UK, but choosing the right type of return is crucial. Un… Read More
2024-02-29 11:03
Can you go to jail for not paying taxes? Taxes are an essential part of a functioning society and play a crucial role in funding important public services. Such as healthcare, education, and… Read More
2024-02-28 12:03
Are you worried about adding pension contributions to the tax return? Retirement planning is an essential aspect of personal finance. A pension plan is one of the most important components o… Read More
2024-02-27 12:16
Are you wondering if can you pay taxes after the deadlines? Tax filing can be a complex and confusing process. Especially for individuals who are not familiar with the system. Understanding… Read More
2024-02-26 11:41
Thinking about “Can salary sacrifice reduce tax”? Salary sacrifice is a method of reducing one’s taxable income by agreeing to a reduction in salary in exchange for certain… Read More
2024-02-25 10:07
Meg Saksida considers the operation and practical implications of the income tax starting rate band for savings.
The starting (savings) rate band for interest income is one of the most diffi… Read More
2024-02-24 09:47
Chris Thorpe points out how a company could benefit a business, and what directorship entails.
When deciding whether to incorporate a business, tax is clearly a major factor; but it is not t… Read More
2024-02-23 10:48
As a self-employed pilot in the UK, you’re likely to be subject to a range of tax deductions and reliefs. In this discussion, we will explore some of the key considerations for such pi… Read More
2024-02-21 09:41
This discussion is based on what is the VAT threshold. Value Added Tax (VAT) is an important tax in the UK that can have a significant impact on businesses of all sizes. In this discussion… Read More
2024-02-20 12:37
Is VAT chargeable on alcohol? Alcohol has been consumed for thousands of years, and it has been subject to various forms of taxation throughout history. In the UK, alcohol is subject to VAT… Read More
2024-02-18 09:21
Richard Curtis considers the basic principles of the capital gains tax exemption for only or main residences.
For most of us, the house in which we live – our ‘only or main resid… Read More
2024-02-17 09:08
Moneeza Siddiqui outlines tax implications of assets gifted or sold at an undervalue.
Surprising loved ones with a gift can potentially backfire on the donor, who may end up with a tax charg… Read More
2024-02-16 13:52
As a UK vehicle owner, are you wondering if my vehicle is taxed? It is essential to ensure that your vehicle is taxed to comply with UK road traffic regulations. Avoid penalties and legal is… Read More
2024-02-15 10:57
The triple-lock state pension is a key policy initiative that aims to protect the retirement income of pensioners against rising costs. The idea behind the triple lock state pension is to pr… Read More
2024-02-14 12:25
What is emergency tax and how to avoid emergency tax? Well, the emergency tax code in the UK is a tax code used by HMRC to assign a temporary tax code. To a worker when they do not have enou… Read More
2024-02-13 08:37
What is an attendance allowance? UK government benefit designed to provide financial support to individuals. Who requires a higher level of care and assistance due to physical or mental disa… Read More
2024-02-12 08:28
What is tax relief? Tax relief is a valuable way for individuals in the UK to maximise their savings, support important causes, and potentially benefit from significant tax savings. There ar… Read More
2024-02-08 10:29
In the UK, stamp duty on a gifted property is a type of tax that is payable when certain types of property are transferred. When a property is purchased or transferred, the purchaser or reci… Read More
2024-02-08 08:27
In the intricate world of business finance, micro entities represent a category of small-sized businesses with comparatively simpler accounting requirements. This blog explores the concept o… Read More
2024-02-07 14:21
This article is about what is pro forma invoice. The pro forma invoice is a commercial invoice that provides a prospective customer with an estimate of the costs involved in a transaction. I… Read More
2024-02-04 08:48
Andrew Needham looks at what is known as the ‘golden brick’ and its effect on the VAT treatment of new residential property in the construction industry.I t is not uncommon, in t… Read More
2024-02-03 08:22
Mark McLaughlin looks at some inheritance tax points to consider for parents wishing to help adult offspring manage their mortgage debts. These are difficult times for most young people buyi… Read More
2024-02-02 15:04
Wondering how does shared parental leave work? Shared parental leave is a scheme introduced by the UK government to enable parents to take time off work to look after and bond with their chi… Read More
2024-02-01 10:04
Is there VAT on train tickets? Well, train travel is an important mode of transport for many people in the UK, offering fast and convenient transportation to destinations across the country… Read More
2024-01-31 13:48
Can you claim VAT on staff entertainment? Well, staff entertainment can be an important part of a company’s culture, providing a way for employees to relax and connect outside of the o… Read More
2024-01-30 13:57
Knowing what is an inherent risk and Inheritance planning is an important aspect of estate planning. It can be a subject of significant concern and debate within families in the UK. In recen… Read More
2024-01-26 12:27
If you are looking for whether can you claim VAT on prepayments, you must know that a business’s VAT liability depends on the amount of sales and how the sales are made. VAT is calcula… Read More
2024-01-25 10:33
If you are looking for what is an innovator founder visa, well the UK’s Innovator Visa is designed to attract individuals who are innovative and highly skilled, with a genuine interest… Read More
2024-01-24 09:21
The government gateway is a valuable online platform that provides a wide range of services for individuals and businesses in the United Kingdom, including tax services, immigration services… Read More
2024-01-23 12:32
Payments on account (POAs) for the selfemployed or those taxpayers who have significant income from sources other than employment have been compulsory for nearly 30 years. POAs are advance p… Read More
2024-01-17 12:16
As an employee, it is normal to receive and to be taxed on the worker’s salary, wages and bonuses for the work performed in the employment. However, employers may also wish to remunera… Read More
2024-01-17 09:05
VAT (Value-Added Tax) is a tax that is charged on goods and services sold in the UK. For businesses, VAT can be a significant cost, which can be difficult to manage if the VAT payments are d… Read More
2024-01-16 10:54
When considering the best vehicle through which to operate a business, tax is a major consideration which can affect that decision, but it’s not the only one; practical and legal issue… Read More
2024-01-16 09:55
Welcome to our blog about what is audit and assurance in accounting, where we will explore the topic of what is audit and assurance in the financial reporting system in the UK. Audit and ass… Read More
2024-01-15 16:14
Are you seeking information about what are intangible assets? Well, intangible assets are a critical component of many businesses but are often overlooked or misunderstood. These assets, suc… Read More
2024-01-10 10:09
Although inheritance tax (IHT) can arise on some lifetime gifts or ‘transfers of value’, the main concern for most is its impact on the estate at death. Gifts made in the seven y… Read More
2024-01-10 08:22
Let’s dive into the fascinating world of what is forensic accounting in the UK! Forensic accounting is a specialized field that combines accounting, auditing, and investigative skills… Read More
2024-01-09 15:43
Let’s dive into the fascinating world of what is business asset rollover relief in the UK. This relief is designed to provide tax benefits to business owners who sell a qualifying asse… Read More
2024-01-09 09:49
My long association with the ITEPA 2003, Pt 7 Employment Related Securities (ERS) legislation leads me to conclude that confusion stalks the land. Or put less dramatically, the rules are oft… Read More
2024-01-08 15:20
Let’s dive into the world of what is insolvency practitioner. Insolvency practitioners can come from either an accounting or legal background, bringing their unique skills to the table… Read More
2024-01-05 08:26
Let’s dive into the fascinating world of what is fair value accounting. Fair value accounting is an approach used to measure and report the value of assets and liabilities based on the… Read More
2024-01-04 08:26
Let’s dive into the world of what are tax codes in the UK. Tax codes are an essential part of the UK tax system. They are unique combinations of letters and numbers that help determine… Read More
2024-01-03 14:23
Let’s dive into the discussion about what is the enterprise investment scheme. EIS investments are known for their high-risk nature but also offer the potential for substantial returns… Read More
2024-01-03 09:30
VAT returns and payments should be submitted to HMRC no later than seven days after the end of the month following the end of the VAT period. If the return and/or payment is late, it can res… Read More
2024-01-02 13:51
Let’s dive into the introduction of our discussion about how to claim business asset disposal relief in the UK. This tax relief is designed to provide individuals with a way to reduce… Read More
2024-01-02 08:47
Many trading companies are struggling in this difficult financial climate. Where a company makes a trading loss, there are several possible ways for that trading loss to be relieved, subject… Read More
2024-01-01 10:22
Let’s dive into the world of MTD for self-assessment. MTD is a government initiative in the UK that aims to modernise the tax system by digitising the way individuals and businesses re… Read More
2023-12-29 15:39
Let’s dive into this discussion on the facts related to practices for accountants to attract more clients. This discussion will explore various strategies and tactics that can help you… Read More
2023-12-29 14:42
Let’s dive into a detailed discussion about the second-hand van that qualifies for Annual Investment Allowance (AIA). The AIA is an incredible opportunity for businesses to claim a ded… Read More
2023-12-29 12:46
The topic of will inheritance tax be abolished is one that often sparks debate and controversy. Advocates for its abolition argue that it is an unfair tax that penalises individuals for pass… Read More
2023-12-27 15:58
Let’s kick off our discussion about what is a P14 form. In the UK, the P14 form is an important document that employers use to report their employees’ end-of-year payroll in… Read More
2023-12-25 13:49
The benefit cap in the UK refers to a policy that limits the total amount of welfare benefits a household can receive. It was implemented to promote self-sufficiency and guarantee justice. T… Read More
2023-12-23 14:46
When businesses purchase assets, they invariably use some form of finance on the pretext that it is better to conserve cash, because once it’s gone – it’s gone!
Different m… Read More
2023-12-22 12:38
Let’s dive into the discussion on how to read micro-company accounts. Understanding these accounts is essential for gaining insights into a company’s financial health. A balance… Read More
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