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Working within Accountancy and Taxation, we are always evolving our services, keeping in line with new government legislation and exploring new technology to support our digital accountancy services.
Private rental deposits
There are special rules under the Tenancy Deposit Scheme that limits the amount of deposit that landlords in England can request. There are also further limitations on what landlords and agents can
What is a group company structure?
A group is formed when one company has control of, owns, a number of subsidiary companies.
A group is different to an arrangement where an individual owns a number of companies personally. In this
Reclaiming pre-trading VAT
There are special rules that determine the recoverability of VAT incurred before a business registered for VAT. This type of VAT is known as pre-registration input VAT. There are different rules for
Post cessation transactions
Tax relief may be available for post-cessation expenses of a trade. To be an allowable post-cessation expense the trade must have ceased and the expense must have been deductible in calculating the
Tax relief for training costs
If you are self-employed it is important to know if an expense is tax allowable. Any allowable costs can be used to reduce your taxable profit.
As a general rule you can claim for items that you
Tax and employee share schemes
There are a number of government approved share schemes which offer various incentives to employees. The rules of the schemes vary but they are all designed to help incentivise employees by giving
Connected persons for tax purposes
The definition of a connected person for tax purposes varies.
A statutory definition of “connected persons” for Capital Gains Tax purposes is set out in Section 286 of the Taxation of
Is your income over £100,000?
If you earn over £100,000 in any tax year your personal allowance is gradually reduced by £1 for every £2 of adjusted net income over £100,000 irrespective of age. This means that any taxable receipt
Child Benefit for 16 – 19 year olds
More than a million parents will receive reminders to extend Child Benefit for their teenagers if they are continuing their education or training after their GCSEs.
HM Revenue and Customs (HMRC) is
Are we unpaid tax collectors?
Business owners often refer to VAT as if it were a cost to their business regardless of their VAT position; whether they are registered for VAT or not.
If you are not registered for VAT, you do not
Types of HMRC enquiries
HMRC can enquire into any statutory return (or amendment of that return) or statutory claim to check if the return / claim has been prepared correctly or if further information is required.
HMRC’s
Correcting errors in VAT returns
Where an error on a past VAT return is uncovered businesses have a duty to correct the error as soon as possible. As a general rule, any necessary adjustment can be made on a current VAT return. To do
Interest on children’s savings
All children in the UK have their own personal allowance, currently £12,570. There are special rules if a parent gifts significant amounts of money to their children which results in them receiving
Non-resident UK property sales
There are specials rules that apply to UK property sales by non-residents. Since 6 April 2020 non-residents have needed to report and pay any non-resident Capital Gains Tax (CGT) due if they have sold
Self-assessment payments on account
Self-assessment taxpayers are usually required to pay their income tax liabilities in three instalments each year. The first two payments on account are due on 31 January during the tax year and 31
Multiple Dwellings Relief for SDLT
It was announced as part of the Spring Budget 2023 that Multiple Dwellings Relief (MDR) was being abolished. This change has now come into effect for transactions which complete, or substantially
New Brooms
As time passes during the present election campaign, its seems more likely that we may have a change of government from the 5 July.
Labour have disclosed a number of tax changes they would introduce.
Falling inflation – what does it mean for you?
The following notes are reproduced from a Treasury statement issued 21 May 2024.
Lower inflation supports people by maintaining the purchasing power of their money.
If prices only rise slowly,
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