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Recovering VAT on pre-registration costs
Businesses that register for VAT may be able to reclaim VAT paid on certain goods and services purchased before VAT registration.
There are specific time limits for claiming pre-registration VAT.
What is a reasonable excuse for missing a tax deadline?
Missing a tax deadline can result in penalties from HMRC, but a taxpayer may be able to appeal if they have a genuine reasonable excuse. Whether an excuse is accepted depends on the individual facts
Tax relief for uniforms and protective clothing
Employers providing uniforms or protective clothing to employees need to understand the tax and National Insurance rules that apply. The treatment depends on whether the clothing is required for the
Benefits of claiming the Annual Investment Allowance
Businesses investing in qualifying assets may be able to claim the Annual Investment Allowance (AIA) and deduct the full cost of eligible purchases from their profits before tax. This can help by
Have you reviewed your workers’ employment status?
Businesses should regularly review whether individuals working for them are correctly classified as employees, workers or self-employed. Getting employment status wrong can result in unexpected tax
Evidence required to support business expense claims
Self-employed individuals can deduct allowable business expenses from their income when calculating taxable profits. However, businesses must keep accurate records and evidence to support the costs
Could your business survive a cyberattack?
Cybercrime is no longer a problem that only affects large organisations. Increasingly, small and medium-sized businesses are becoming targets because criminals often see them as having weaker security
Are your employment policies ready for workplace reforms?
Employment law continues to evolve, and businesses should keep a close eye on forthcoming changes that may affect the way they recruit, manage and retain staff. Although many of the proposed reforms
Incorporation Relief may reduce your CGT bill
When a sole trader or partnership transfers a business to a limited company, a chargeable gain may arise. This is usually calculated by comparing the market value of the business assets at the date of
Official rate of interest for beneficial loans
Employers providing loans to employees or directors need to ensure they correctly calculate any taxable benefit using HMRC’s official rate of interest. Where a loan is provided at no interest or at a
