In April 2022, the government announced a package of measures intended to make the UK a global cryptoasset technology hub. One of the issues raised at the time concerned the tax treatment of
Consultation on taxation of cryptoasset loans
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Capital Gains during separation and divorce
The Capital Gains Tax (CGT) rules that apply during separation and divorce changed for disposals that occur on or after 6 April 2023. These changes extended the period for separating spouses and civil
Tax on public transport season tickets
There are certain tax rules that it is important to be aware of where you pay for the public transport costs of your employees. The provision of public transport costs include:
season tickets
Tax by stealth
There is a plausible link between a rise in tax payments if tax rates increase or if tax allowances and reliefs fall. But what happens if there is no change in tax rates or allowances?
In this case,
Tax Diary June/July 2023
1 June 2023 – Due date for corporation tax due for the year ended 31 August 2022.
19 June 2023 – PAYE and NIC deductions due for month ended 5 June 2023. (If you pay your tax electronically the due
What is a P11D?
A P11D form is a form used by employers to list certain ‘benefits in kind’ provided to directors or employees. P11D forms are used to provide information to HMRC on all Benefits in Kind (BiKs),
Monthly chores for CIS contractors
The Construction Industry Scheme (CIS) is a set of special rules covering tax and national insurance for those working in the construction industry. Businesses in the construction industry are known
Cost of living payments 2023-24
The Cost of Living support package has been designed to help over 8 million households in receipt of mean tested benefits. The details for Cost of Living Payments due in the 2023-24 tax year have been
Withholding tips from staff now unlawful
A new law that stops employers from withholding tips from people working in the hospitality, leisure and services sectors has come into force. The Employment (Allocation of Tips) Act 2023 received
National Insurance for company directors
Directors are classed as employees and pay National Insurance on annual income from salary and bonuses that exceeds the Primary Threshold. The annual threshold is £12,570 in the current 2023-24 tax
Business Relief for IHT
There are a number of reliefs available that can reduce liability to Inheritance Tax (IHT).
One of these reliefs is known as IHT Business Relief and is a valuable tax relief for taxpayers with
The winds of change
A new King, the possibility of a change of government next year, and signs that we may, at last, be emerging from the disruptions created by Brexit and COVID.
Meanwhile, back at helms of our small
Your tasks if a VAT-registered business
The taxable turnover threshold that determines whether businesses should be registered for VAT is currently £85,000. Businesses with turnover below this level can also apply for a voluntary VAT
Company cars – working out taxable value
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
Landlord responsibilities
There are a number of responsibilities that fall on a landlord that is renting out a property.
These include the requirements to:
keep rented properties safe and free from health hazards;
make
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