Learn about the tax problems of holding too much cash in your company. Successful companies can accumulate significant cash balances if profits are left in the business and not paid out as salaries or dividends. That you may think is a risk-free strategy from a tax perspective and there is nothing wrong by holding cash […]

Learn how the working from home easement is coming to an end. If you are an employer whose team work from home or an employee benefiting from working from home arrangements, you need to take account of the new rules taking effect from 5 April 2022. As the Government lifts Coronavirus restrictions, working from home […]

Learn about the taxation implications of trading in cryptocurrencies We have seen a steady increase over the last few years of clients trading in cryptocurrencies and many have put their head in the sand when it comes to declaring these activities to H.M. Revenue & Customs. This is a dangerous game to play, so this […]

Fuel Duty cut Cutting fuel duty on petrol and diesel by 5p per litre for 12 months. The cut takes effect from 6pm on 23rd March 2022. Employment Allowance increase The Employment Allowance is a relief which allows eligible businesses to reduce their employer National Insurance contributions (NICs) bills each year. From April 2022 the […]

Learn about likely changes to the information included in small company accounts which are filed at Companies House Learn how the Government is planning to ramp up the information that has to be included in a small company’s accounts filed on public record. I think we all agree that under the current regime where we […]

What is the aim? To bring the LPP regime in line for both VAT and income tax. When will the new penalty regime start? For VAT – From 1st January 2023. From an income tax perspective, for those self-employed and property landlords who will be caught by Making Tax Digital for Income Tax Self-Assessment (MTD […]

Learn about the changes in taxation that will impact on your dividend income. With tax hikes around the corner, learn how to plan your dividend strategy in order to maximise the income in your pocket. The rules for taxation on dividends currently are as follows: – – Each individual is entitled to a £2,000 a […]

When does MTD come in for PLs? The earliest date would be 6th April 2023. When would a PL have to register for MTD? The earlier of: The tax year following that in which your gross rental turnover figure exceeds £10,000 or more. Or The tax year following that in which your gross rental turnover […]

What is the aim? To bring the LPP regime in line for both VAT and income tax. When will the new penalty regime start? For VAT – accounting periods beginning on or after 1st April 2022. From an income tax perspective, for those self-employed and property landlords who will be caught by Making Tax Digital […]

Beware if your Coronavirus support claims do not stand up to scrutiny! Learn about new developments regarding H.M. Revenue & Customs examination of Coronavirus claims We will explain how H.M. Revenue & Customs are cranking up their examination of suspect Coronavirus support claims and what you can do to avoid a nasty shock. We have […]