Business Asset Rollover Relief also known as CGT Rollover Relief allows for deferral of Capital Gains Tax (CGT) on gains made when taxpayers sell or dispose of certain assets and use all or part of
CGT Rollover Relief
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Do not respond if you receive this letter
Companies House published guidance titled ‘Reporting scams pretending to be from Companies House’ has been updated. The list is intended to help people check if contacts purporting to be from
Changes to the High Income Child Benefit Charge
The changes to the High Income Child Benefit Charge (HICBC) announced as part of the Spring Budget came into effect on 6 April 2024. The income threshold at which HICBC starts to be charged has been
Employee suggestion schemes
There are many advantages to creating an employee suggestion scheme where employees are rewarded for making suggestions that benefit your business. Apart from the value that these suggestions can have
Payback company car private fuel
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 car fuel benefit charge. The
Carry back charitable donations
If you are a higher rate or additional rate taxpayer you have the option to carry back your charitable donations to the previous tax year. A request to carry back the donation must be made before or
Benefits of a fall in inflation
An economist from the Treasury explains exactly what a fall in inflation means for you.
How will lower inflation help the economy?
Lower inflation supports people by maintaining the purchasing
Post Office convictions quashed
Convictions of hundreds of postmasters have been quashed following Royal Assent of the Post Office (Horizon System) Offences Act 2024.
Many postmasters endured financial ruin, the loss of homes,
Tax credits reminder
We would like to remind our readers that HMRC is currently sending the annual tax credit renewal packs to 730,000 tax credit claimants. HMRC is encouraging recipients to renew their tax credits claim
Reporting expenses and benefits to HMRC
The deadline for submitting the 2023-24 forms P11D, P11D(b) and P9D is 6 July 2024. These forms can be submitted using commercial software or via HMRC’s PAYE online service. HMRC no longer accepts
View your annual tax summary
The Annual Tax Summary is a document provided by HMRC that shows details of the tax you pay and how this is used by government.
The Annual Tax Summary shows:
your taxable income from all sources
Changes to Companies House Fees
There have been a number of significant changes in Companies House fees. These changes took effect on 1 May 2024. The last significant change in fees occurred in April 2016.
The new fees have been
VAT reverse charge for builders
There are special VAT reverse charge rules for certain building contractors and sub-contractors. The rules, which came into effect on 1 March 2021, makes the supply of most construction services
Tax when transferring assets during divorce
When a couple is separating or is divorced it is unlikely that they are thinking about the tax implications of their actions. However, apart from the emotional stress, there are also tax issues that
Universal Credit changes
Universal Credit claimants working less than half of a full-time week will have to look to increase their hours but will be able to benefit from extra work coach support. These changes will see
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