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Using the HMRC app to make Self-Assessment tax payments
A new press release from HMRC has revealed that more than 50,000 taxpayers have used the HMRC app to make Self-Assessment tax payments since February 2022. Payments can be made safely and securely
Mortgage payment support
The Chancellor, Jeremy Hunt, recently hosted a meeting at 11 Downing Street to discuss what help may be available to support homeowners who encounter problems paying their mortgage. The meeting was
Collecting tax from wealthy taxpayers
An updated briefing which looks at how HMRC deals with wealthy individuals has been published. The briefing looks at helping wealthy individuals to comply with their tax obligations and also what
Post-cessation receipts and expenses
Tax relief may be available for post-cessation expenses of a trade. In order to be an allowable post-cessation expense, the trade must have ceased, and the expense must have been deductible in
The Rent a Room Scheme
The rent-a-room scheme is designed to help homeowners who rent-a-room in their home. If you are using this scheme, you should ensure that rents received from lodgers during the current tax year do not
Tax on property you inherit
If you inherit property, you are usually not liable to pay tax on the inheritance. This is because any Inheritance Tax (IHT) due should be paid out of the deceased’s estate before any cash or assets
Companies with 31 December year-end date
Have you considered any last-minute planning options if your company has a 31 December 2022 year-end date?
It is not too late to consider your options. For example:
Expenditure on qualifying plant
Claiming back pre-trading VAT costs
There are special rules that determine the recoverability of pre-trading VAT costs. Pre-trading VAT costs describe VAT that was incurred before a business registered for VAT and is known as
What is a salary sacrifice?
A salary sacrifice arrangement is an agreement to reduce an employee’s entitlement to pay, usually in return for a non-cash benefit. The tax and NIC advantages of certain benefits provided as part of
25% Corporation Tax from April 2023
The planned increases in Corporation Tax (CT) rates from April 2023 are now proceeding as originally announced.
The Corporation Tax main rate will increase to 25% from 1 April 2023 for companies with
