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130% tax relief for companies

130% tax relief for companies

Are you thinking of investing in new plant or other equipment? Remember that the super-deduction offering 130% first-year tax relief is available to companies until March 2023.

The super-deduction

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Finding your National Insurance number

Finding your National Insurance number

If you have lost or forgotten your National Insurance number you should try and locate the number on paperwork such as your tax return, payslip or P60. You can also login to your personal tax account

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Who can use VAT annual accounting scheme

Who can use VAT annual accounting scheme

The VAT annual accounting scheme is open to most businesses with a turnover of up to £1,350,000 per year. The main benefits of the scheme include the requirement to file only one VAT return per year.

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Goodwill and Corporation Tax

Goodwill and Corporation Tax

Goodwill is rarely mentioned in legislation. Most people would settle on a simple definition which would be based on the ‘extra’ value of a business over and above its tangible assets.

In the vast

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Décor and plant and machinery allowances

Décor and plant and machinery allowances

Capital Allowances are the deductions which allow businesses to secure tax relief for certain capital expenditure. Capital Allowances are available to sole traders, self-employed persons or

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IHT change of domicile

IHT change of domicile

It is possible in certain circumstances for an individual to have two domiciles although this is unusual. There is a concept in the UK of deemed domicile, whereby any person who has been resident in

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Further change to SEISS 5 legislation

Further change to SEISS 5 legislation

HM Treasury has published a Correction Treasury Direction made under the Coronavirus Act 2020, section 76, which modifies and extends the effect of the Self-Employment Income Support Scheme (SEISS).

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VAT inclusive and exclusive prices

VAT inclusive and exclusive prices

When identifying the amount of VAT charged, it is important to distinguish between VAT inclusive and VAT exclusive prices. A VAT inclusive price includes VAT at the prevailing rate.

When a VAT

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Pub secures reduced tied rent and discounts

Pub secures reduced tied rent and discounts

The Pubs Code Adjudicator is responsible for enforcing the statutory Pubs Code. The Pubs Code regulates the relationship between all pub companies owning 500 or more tied pubs in England and Wales and

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When is a company dormant for tax purposes?

When is a company dormant for tax purposes?

If a company has stopped trading and has no other income then the company is usually classed as dormant for Corporation Tax purposes.

A company is usually dormant for Corporation Tax if it:

has

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Continuous employment defined

Continuous employment defined

When a new employee is added to the payroll it is the employers’ responsibility to ensure they meet the employees’ rights. One of the issues that must be considered is the employees’ length of

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Who pays Inheritance Tax?

Who pays Inheritance Tax?

Inheritance Tax (IHT) is commonly collected on a person’s estate when they die but can also be payable during a person’s lifetime on certain trusts and gifts. The rate of IHT currently payable is 40%

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