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
Capital Gains Tax and trusts
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Tax and duty on goods sent from abroad
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
Who is your ideal customer?
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’ obligation to repair property
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
Tax Diary September/October 2023
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
Searching for details about property
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
Scottish charities regulations
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
Need to tell HMRC about extra income?
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
HMRC increases interest rates again
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
VAT treatment of road fuel costs
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
Being made bankrupt
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
The end of scam calls selling financial products?
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,
Carrying company losses back
Corporation Tax relief may be available where your company or organisation makes a trading loss. A qualifying trading loss may be used to claim relief from Corporation Tax by offsetting the loss
HMRC recommends early filing of tax returns
The 2022-23 tax year ended on 5 April 2023 and the new 2023-24 tax year started on 6 April 2024. Many taxpayers will be happy to leave dealing with their 2022-23 tax returns until later this year or
Corporation Tax Group Payment Arrangements
A Corporation Tax Group Payment Arrangement (GPA) is a special arrangement that allows groups of companies to make joint payments of Corporation Tax. This type of arrangement can reduce the
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