06/Dec/2021Payments on account – Who needs to pay and how are they calculated?
The self-assessment tax return for 2020/21 must be filed online by midnight on 31 January 2022 if a late filing penalty is to be avoided. The exception to this is […]
02/Dec/2021What is the Metaverse and what do businesses need to know about it?
With the recent rebrand of Facebook’s parent company to Meta, many are asking questions about the Metaverse and what it means for their firms. The concept of the Metaverse is […]
29/Nov/2021Different ways of deferring CGT by selling or gifting a business asset – hold over relief, roll over relief etc.
Capital gains tax (CGT) is levied on capital gains made on the disposal (including gifts) of most assets. However, if the disposal is of ‘business assets’ by a trader (including […]
26/Nov/2021Treating deposits from tenants correctly for tax purposes
A landlord will normally take a deposit from a tenant when letting a property to cover the cost of any damage caused to the property by the tenant. A deposit […]
23/Nov/2021Reporting Covid-19 Support Payments on your tax return
If you are self-employed and you received Covid-19 support payments during the pandemic, you may need to report these on your self-assessment tax return. If you are an employee and […]
19/Nov/2021Reporting income from property
The deadline for filing the 2020/21 self-assessment tax return online is 31 January 2022. If you received income from property, you may need to tell HMRC about it on your […]
18/Nov/2021Residential Property Developer Tax
Legislation has been published in draft which will bring a new tax – the Residential Property Developer Tax (RPDT) onto the statute book. The publication of the draft legislation, on […]
15/Nov/2021Increasing the normal minimum pension age
The normal minimum pension age (NMPA) is the age at which most pension savers can access their pensions without incurring an unauthorised pension charge (unless they take their pension earlier […]
11/Nov/2021New reduced rate of VAT for hospitality and leisure
The hospitality and leisure industry were particularly hard hit by the effects of the Covid-19 pandemic and associated lockdowns. To help the industry recover they benefitted from a reduced rate […]
08/Nov/2021Electric charging points – Is there a tax liability?
As part of the Government’s push to encourage drivers to ‘go electric’, the Transport Secretary, Grant Shapps, announced an extension to a £50 million Government fund to install electric charge […]
02/Nov/2021Register for Child Benefit even if the HICBC applies
If you are responsible for bringing up a child who is under the age of 16, or under the age of 20 where they remain in approved education or training […]
01/Nov/2021Social Commerce
Harnessing the power of social media to sell your products or services online. Social Commerce involves using platforms such as Twitter, Instagram, Facebook or TikTok as vehicles to sell products […]
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