10/Jun/2022High Income Child Benefit Charge – not just for higher rate taxpayers
The High Income Child Benefit Charge (HICBC) is a tax charge that claws back payments of child benefit where the recipient or the recipient’s partner has income of at least […]
03/Jun/2022Relief for homeworking expenses post Covid-19
The Covid-19 pandemic forced large numbers of employees to work from home for the first time. Having made the transition to home working, post pandemic, many employees have continued to […]
24/May/2022Featured in the accountingweb for Accounting Excellence awards
Last year in Oct 2021, we were very excited to have won two awards at the 2021 Accounting Excellence Awards – picking up “The Client Service Firm of the Year” […]
02/May/2022Splitting capital and revenue expenditure
When it comes to tax relief for expenditure, not all expenditure is equal. The relief, if any, that is available, depends on whether the expenditure is capital or revenue, and […]
25/Apr/2022Allocating income for tax when property is jointly owned
Property that is jointly-owned may be let out. As people are taxed individually, the income must be allocated in order to work out the tax that each joint owner is […]
21/Apr/2022Plastic packaging tax – who is liable?
Plastic packaging tax is a new tax that comes into effect from 1 April 2021. The tax has a green agenda – its aim is to reduce the amount of […]
20/Apr/2022MTD for VAT for all
Under Making Tax Digital (MTD) for VAT, VAT-registered traders must keep electronic records and file their VAT returns electronically using software that is compatible with MTD for VAT. Prior to […]
19/Apr/2022Claiming NIC veterans’ relief from April 2022
To encourage employers to employ armed forces veterans, a new relief was introduced with effect from 6 April 2021 where an employer took on an armed forces veteran in the […]
12/Apr/2022Identifying NIC increases on the payslip
For 2022/23 only, the rates of Class 1 (employer and employee) National Insurance contributions are increased by 1.25 percentage points, along with the rates of Class 1A, Class 1B and […]
06/Apr/2022Filing 2021/22 expenses and benefits returns
Employers who provided their employees with taxable expenses and benefits in 2021/22 need to report these to HMRC by 6 July 2022, unless they have been payrolled or included within […]
04/Apr/2022Difference between tax planning and tax avoidance
Recent years have seen HMRC stepping up its efforts to reduce what is termed the ‘tax gap’ (defined as being the amount of tax that HMRC think should, in theory, […]
29/Mar/2022Corporation tax rises – accounting period starts are 1 April 2022
Corporation tax is being reformed and companies with profits of more than £50,000 will pay corporation tax at a higher rate than they do now. While the changes do not […]
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