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
Transferring a VAT registration
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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
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
Gambling white paper reforms
A public consultation process has been launched to look at how to conduct financial risk checks for problem gambling and at what level stake limits should be set for people playing online slot
Amazon offers to change Marketplace rules
Amazon has offered to change the way it treats third-party sellers using its Marketplace platform in the UK, by submitting proposed commitments to the Competition and Markets Authority (CMA) in
Emergency tax codes
The letters in an employee’s tax code signify their entitlement (or not) to the annual tax free personal allowance. The tax codes are updated annually and help employer’s work out how much tax to
New crackdown on illicit tobacco
HMRC has continued to tackle the UK’s most notorious hotspots for the sale and supply of illicit tobacco as part of its overall remit to tackle tax fraud. This has resulted in the seizure of more than
When you don’t have to pay Capital Gains Tax
In most cases, there is no Capital Gains Tax (CGT) to be paid on the transfer of assets to a spouse or civil partner. There is, however, still a disposal that has taken place for CGT purposes,
The Construction Industry Scheme
The Construction Industry Scheme (CIS) is a set of special tax and National Insurance rules for those working in the construction industry. Businesses in the construction industry are known as
Check your State Pension forecast
The State Pension forecast provides an estimate of how much State Pension an individual can expect to receive when they reach State Pension age. The estimate is based on the applicant’s National
Draft legislation published for Finance Bill 2023-24
Legislation Day (L-Day), 18 July 2023, was the date when the government published the draft legislation for Finance Bill 2023-24. This Finance Bill will be colloquially referred to as Finance Bill
HMRC pledges £5.5m in partnership funding
HMRC is awarding £5.5 million to voluntary and community organisations to support customers who may need extra help with their tax affairs.
HMRC is inviting eligible organisations to bid for the
Connected persons for tax purposes
The definition of a connected person for tax purposes can be complex.
A statutory definition of “connected persons” for Capital Gains Tax purposes is set out in Section 286 of the
Exempt company purchase of own shares
Most payments a company makes to its shareholders, in respect of their shares, will be qualifying distributions (usually described as dividends) and may be subject to Income Tax.
If certain
Check a UK VAT number is valid
The check a UK VAT number service is available at: www.gov.uk/check-uk-vat-number.
This service allows users to check:
if a UK VAT registration number is valid; and
the name and address of the
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