Interestingly, there is no statutory definition of ‘trade’. The only statutory reference to the term states that ‘trade’ includes a ‘venture in the nature of trade’. This absence

The new VAT road fuel scale charges have been published. The changes amend the VAT scale charges for taxing private use of road fuel to reflect changes in fuel prices.
The new

If you are a higher rate or additional rate taxpayer, you are eligible to claim relief on the difference between the basic rate and your highest rate of tax. The charity you donate

The 2018-19 tax year ended on 5 April 2019 and the new 2019-20 tax year started on 6 April 2019. Many taxpayers will be tempted to delay dealing with their 2018-19 tax returns

There are a number of reasons why you may need to register with HMRC to submit a tax return. This includes if you:

are self-employed and earning more than £1,000,
are a

The new National Minimum Wage (NMW) and National Living Wage (NLW) rates came into effect on 1 April 2019. The NLW was introduced on 1 April 2016 and is the minimum hourly rate

Air Passenger Duty (APD) is a departure tax levied on most air travel. Each geographical band has two rates of Air Passenger Duty, one for standard class and the second for ‘other’

The annual allowance for tax relief on pensions has been fixed at the current level of £40,000 since 6 April 2014. Since April 2016, the annual allowance has been further reduced

As a general rule, there is no tax relief for ordinary commuting. The term ‘ordinary commuting’ is defined to mean travel between a permanent workplace and home, or any other place

There is a free tracing service called ‘mylostaccount’ to find lost bank accounts. The service brings together the three tracing schemes of the British Bankers’ Association (BBA),

The National Minimum Wage (NMW) and National Living Wage (NLW) rates will increase from 1 April 2019. The NLW for workers aged 25 or over will increase to £8.21 per hour, the NMW

Revenue published new guidance on the provisions introduced in Finance Act 2018 regarding accelerated capital allowances for the provisions of childcare services or fitness centre facilities. Finance Act 2018 introduced […]