The Economic Crime and Corporate Transparency Bill has completed its initial journey through the House of Commons and the House of Lords and is now at the stage known as, consideration of amendments.
Change to Company Accounts filing
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Tax on incentive rewards
Companies may use incentive award schemes to encourage their employees in various ways. For example, to sell more of their own goods and services. The award can be in forms including cash, vouchers or
Activities subject to the scope of VAT
There are a number of conditions that must be satisfied for an activity to be within the scope of UK VAT.
An activity will fall within the scope of VAT when all the following conditions are
No gain – no loss transfers in groups of companies
There are special rules concerning the transfer of assets in groups of companies. In most cases, this means that where assets are moved around group companies, there are no immediate capital gains
Utilising Capital Gains Tax losses
Usually, if you sell an asset for less than you paid for it you would make a capital loss. As a general rule, if the asset would have been liable to CGT had a gain taken place, then the loss should be
Repairs or replacement of business assets
The term ‘capital allowances’ is used to describe the allowances available to businesses to secure tax relief for certain capital expenditure. The rules that govern the purchase of capital equipment
Changes afoot at Companies House
Due to new legislation working its way through Parliament, Companies House will be making a number of significant changes. In a recent blog post, they made the following announcement:
We’re
Checking your National Insurance record
HMRC offers an online service to check your National Insurance Contributions (NIC) record online. In order to use the service, you will need to have a Government Gateway account. If you don’t have an
Who is a Scottish taxpayer?
The Scottish rate of income (SRIT) is payable on the non-savings and non-dividend income of those defined as Scottish taxpayers. This means that Scottish taxpayers who also have savings and dividend
Calculate tax on company cars
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
Paying tax by debit card or business credit card
It is possible to pay HMRC by corporate credit card or corporate debit cards. The use of these cards is subject to a fee. Payment by personal debit cards is currently fee-free. There is also no charge
What is a trust?
A trust is an obligation that binds a trustee, an individual or a company, to deal with assets such as land, money and shares which form part of the trust. The person who places assets into a trust is
Autumn Statement 2023
The Chancellor, Jeremy Hunt, has announced that he will deliver his Autumn Statement to the House of Commons on Wednesday, 22 November 2023. This move would imply that the annual Budget will not take
Tax Diary October/November 2023
1 October 2023 – Due date for Corporation Tax due for the year ended 31 December 2022.
19 October 2023 – PAYE and NIC deductions due for month ended 5 October 2023. (If you pay your tax
Clampdown on fake reviews and hidden fees
The Department for Business and Trade published the following announcement, that if implemented, should reduce the present trend to publish fake reviews and charge hidden fees at point of sale. The
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