If you are an employee that needs to buy substantial equipment to use as part of your employment you may be able to claim tax relief. In most cases you can claim tax relief on the full cost of this
You can usually claim tax relief for your private pension contributions. There is an annual allowance for tax relief on pensions of £60,000 for the current 2023-24 tax year. The annual allowance was
The VAT treatment of motoring expenses is relevant to any business that incurs VAT on motor expenses.
We have covered below some important points to be aware of concerning the recovery of input tax
There are special rules to help ensure that goods sent from abroad are taxed appropriately. The aim is to not disadvantage UK businesses supplying goods in the UK, for example, by having to compete
A trust is an obligation that binds a trustee, an individual or a company, to deal with the assets – such as land, money and shares – held by the trust. The person who places assets into a trust is
If there is a particular type of customer that is ideally placed to benefit from the goods or services you sell it makes sense to target any marketing activity in their direction, rather than adopting
Landlords have a legal obligation to keep their rented property in good condition, and any gas or electrical systems must meet specified safety standards.
There are different rules for making repairs
1 September 2023 – Due date for corporation tax due for the year ended 30 November 2022.
19 September 2023 – PAYE and NIC deductions due for month ended 5 September 2023. (If you pay your tax
Charities in Scotland are regulated by an independent body. This body is called the Office of the Scottish Charity Regulator (OSCR). The OSCR is the regulator and registrar for over 25,000 Scottish
There are a number of online tools available to help find information about a property in England or Wales, even if you do not own it. The service is available on GOV.UK and allows users to search for
The Bank of England’s Monetary Policy Committee (MPC) met on 2 August 2023 and voted 6-3 in favour of raising interest rates by 25 basis points to 5.25% in a move to further contain inflation. One
There is an online tool that allows taxpayers to check if they need to notify HMRC about additional income. The online tool can be found at www.gov.uk/check-additional-income-tax.
This could include
The bankruptcy process applies to people living in England, Wales or Northern Ireland. There is a separate process known as sequestration in Scotland. Bankruptcy is a form of insolvency and is
There are four options for the VAT treatment of road fuel costs.
Treat all of the VAT as input tax because 100% is used for business purposes. This option only applies to fuel for cars used
Are we about to see the end of phone calls selling sham financial products?
An 8-week consultation by the Home Office and other government departments is aiming to do just this.
The consultation,
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