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When you must register for VAT

When you must register for VAT

The taxable turnover threshold, that determines whether businesses should be registered for VAT, is currently £85,000.

The taxable turnover threshold that determines whether businesses can apply for

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IHT – estimating an estate’s value

IHT – estimating an estate’s value

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

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Dissolved companies and bona vacantia

Dissolved companies and bona vacantia

A company comes to a legal end when it is dissolved. However, one if the important points to be aware of when doing so is that the dissolved company can no longer do or receive anything including

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New Energy Bills Discount Scheme

New Energy Bills Discount Scheme

The government has published details of a new Energy Bills Discount Scheme which will replace the current Energy Bill Relief Scheme that comes to an end on 31 March 2023. The new scheme will offer

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UK regains control over business subsidies

A new system to regulate the award of subsidies to business came into force on Wednesday 4 January 2023. It should provide a boost to businesses across the country and empower public authorities to

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Which way to turn

Which way to turn

Inflation and recession are cruel task-masters.

If you provide goods or services that can be readily sourced from alternative suppliers, and at a lower cost, trying to beef-up your sales prices will

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What is the VAT One Stop Shop?

What is the VAT One Stop Shop?

The VAT One Stop Shop is an EU wide scheme that allows a VAT registered business to register in only one single EU Member State. The scheme was extended with effect from 1 July 2021. The extended

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Mortgage Guarantee Scheme extended

Mortgage Guarantee Scheme extended

The Mortgage Guarantee Scheme was set to end on 31 December 2022. In a last-minute announcement from HM Treasury, it was confirmed that the scheme will now be extended for a further 12 months until 31

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Applying for National Insurance number

Applying for National Insurance number

If you do not already have a National Insurance number you will normally need to apply for one if you are planning to work in the UK, claim benefits, apply for a student loan or pay Class 3 voluntary

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HMRC interest rate changes

HMRC interest rate changes

The Bank of England’s Monetary Policy Committee (MPC) met on 15 December 2022 and voted 6-3 in favour of raising interest rates by 50 basis points to 3.5% in a move to try and continue to tackle

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Redundancy pay

Redundancy pay

If you have been in the same job for two or more years and are made redundant you will usually be entitled to redundancy pay. The legal minimum that you are entitled to receive is known as ‘statutory

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Exempt company cars and fuel benefits

Exempt company cars and fuel benefits

Most employers and employees are aware of the additional costs of providing company cars and the tax implications they create. However, for many employees the attraction of having a company car means

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