There are late filing penalties which are designed to encourage companies to file their accounts and reports on time. All companies, private and public, large or small, trading or non-trading must
If you turned 18 on or after 1 September 2020, there may be cash waiting for you in a dormant Child Trust Fund (CTF).
If your children recently turned 18 you should check to see if they have claimed
Business Asset Disposal Relief (BADR) applies to the sale of a business, shares in a trading company, or an individual’s interest in a trading partnership. When this relief is available, a reduced
The UK’s new National Wealth Fund (NWF) represents a significant shift in the government’s approach to fostering economic growth and addressing climate change. Established by the Labour government,
A 1% reduction in the Bank Rate would reduce the UK government’s annual interest charges on the national debt, but the exact amount of the reduction depends on the proportion of the debt that is
There is an online tool available on GOV.UK that allows taxpayers to check if they need to advise HMRC about additional income they receive. The online tool can be found at
There are a significant number of reliefs available to businesses that suffer losses. Certain losses that your company has not used in any other way can be carried forwards against profits in future
Employees who are working from home may be eligible to claim a tax deduction on certain work-related bills. If their employer does not cover these expenses or allowances, they can claim tax relief
Gift Hold-Over Relief is a tax relief that defers the payment of Capital Gains Tax (CGT). It can be claimed when assets, including certain shares, are gifted or sold below their market value to
Pension Credits can provide extra income to those over State Pension age and on a low income. The credits were first introduced back in 2003 to help keep retired people out of poverty.
The Department
There is no requirement for employers to pay tax and National Insurance on certain health benefits covered by tax concessions or exemptions. For example, there is no requirement to report employees’
In the UK, certain business sectors are required to register with a regulatory body, such as HM Revenue & Customs (HMRC), for Anti-Money Laundering (AML) purposes. These sectors include:
Money
Negative equity occurs when the value of an asset, typically a property, falls below the outstanding balance on the loan or mortgage secured against it. In other words, the amount owed on the mortgage
Changes to the High Income Child Benefit Charge (HICBC) came into effect on 6 April 2024. The income threshold at which HICBC starts to be charged increased to £60,000 (from £50,000).
The charge is
One of the key changes introduced as part of the Economic Crime and Corporate Transparency Act (ECCTA) was the introduction of new rules for registered office addresses. The ECCTA introduced new
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