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Stay in the know with the latest updates and news from Integrity Partnetship
latest news
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.
Do you need to register for self-assessment?
There are a number of reasons why you might need to complete a self-assessment tax return. This includes if you are self-employed, a company director, have an annual income over £150,000 and / or have
Assets made available to an employee
Assets such as computers, televisions and bicycles that are made available to employees can create certain tax, National Insurance and reporting obligations. There is no requirement to report anything
VAT – option to tax property
There are special VAT rules that allow businesses to standard rate the supply of most non-residential and commercial land and buildings (known as the option to tax). This means that subsequent
Tax and working from home
Employees who are working from home may be able to claim tax relief for bills they pay that are work related.
Employers may reimburse employees for the additional household expenses incurred through
Government launches new WhatsApp channel
The Government has launched a new account on WhatsApp Channels, allowing members of the public to subscribe to receive important updates to their phones.
As a trusted, verified account the UK
Government steps to secure UK supply chains
Industry leaders have welcomed the Government’s new Critical Imports and Supply Chain Strategy, safeguarding UK supplies of critical goods such as medicines, minerals and semiconductors.
In a press
Bed and breakfast share sales
The term bed and breakfasting (sale and repurchase) of shares refers to transactions where shares are sold and bought back the next morning. This used to have Capital Gains Tax (CGT) benefits by
Full expensing of capital purchases
A reminder to readers that the full expensing 100% first-year capital allowance for qualifying plant and machinery assets came into effect last April. To qualify for full expensing, expenditure must
Year end payroll reporting
It is not that long until the current 2023-24 tax year comes to an end and there are a number of year end payroll chores that must be completed. This includes sending a final PAYE submission for the
Reminder to claim the Marriage Allowance
The marriage allowance applies to married couples and those in a civil partnership where a spouse or civil partner does not pay tax or does not pay tax above the basic rate threshold for Income Tax
IHT gifts – 7 year limit
Most gifts made during a person’s life are not subject to tax at the time of the gift. These lifetime transfers are known as ‘potentially exempt transfers’ or ‘PETs’. These gifts or transfers achieve
Using the VAT Flat Rate Scheme
The VAT Flat Rate scheme allows businesses to pay VAT as a fixed percentage of their VAT inclusive turnover. The actual percentage used depends on the type of business. The scheme has been designed to
A reminder to protect your business capital
The beginning of a new year is an opportune time to undertake basic business planning. One aspect that needs continuous management is to protect your business capital.
The downturn in global trade
Less than one month to tax return filing deadline
A new press release from HMRC has highlighted that 49,317 taxpayers took the time to file their tax returns online over the New Year holiday. It is estimated that over 6.5 million taxpayers have
VAT on period products scrapped
Before Brexit, the UK was unable to zero rate VAT on women’s sanitary products under EU rules and the items were subject to 5% VAT. Following the end of the transition period the UK was no longer
National Insurance and tax after State Pension Age
If you have reached the State Pension age and continue to work, in most cases, you no longer need to pay National Insurance Contributions (NICs).
At State Pension age, the requirement to pay Class 1
Business Asset Disposal Relief
Business Asset Disposal Relief (BADR) is available on the sale of a business, disposal of shares in a trading company or an individual’s interest in a trading partnership. Where this relief is
Beware higher rate tax on dividends
Readers are reminded that if the dividends they draw from their company, when added to their other income, exceeds the basic rate Income Tax Band, then much higher rates of dividend tax will
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