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VAT – digital record keeping
HMRC requires businesses to maintain accurate VAT records to ensure correct tax payments. While all businesses must retain general records (such as invoices, bank statements, and receipts), a key
Definition of a building sub-contractor
Know the rules for contractors & subs under CIS to avoid issues with HMRC.
Under the Construction Industry Scheme (CIS), HMRC applies specific tax rules to contractors and subcontractors in the
A magical clause does not necessarily nullify employment status
A recent ruling has provided a timely reminder that substance trumps form in employment status disputes, and the mere insertion of a clause does not automatically change the employment status of
Pre-Budget tax planning – act now
With the next UK Budget approaching, there is speculation about changes to tax rates, allowances, and reliefs. Acting now can help secure current benefits before any new rules take effect.
Key areas
Building value in your business
For many small business owners, the focus is on day-to-day operations. However, building long-term value is just as important, whether your aim is to sell in the future, attract investors, or secure
HMRC to increase anti-money laundering fees
Fit and proper test fee to jump from £150 to £700 under HMRC’s proposed AML supervision changes
Many businesses are monitored by the Financial Conduct Authority (FCA) or certain professional bodies
Homebuyers warning
Properties needing repairs still count as homes and false claims to recover Stamp Duty Land Tax could mean big tax bills and penalties.
HMRC has issued a warning to homebuyers about rogue tax agents
Reclaiming duty moving goods to Northern Ireland
Businesses can reclaim duties on qualifying goods moved to or through Northern Ireland since 2021
The Northern Ireland Duty Reimbursement Scheme allows businesses to reclaim import duties paid on
Who can claim the IHT residence nil rate band
With the Residence Nil Rate Band (RNRB), families can pass on up to £1 million without IHT
The RNRB is an additional £175,000 Inheritance Tax (IHT) allowance that applies when a person’s main
Challenging your Council Tax band
If your property has changed or seems mis-banded, you may have the right to request a Council Tax review.
Properties in England and Wales are assigned Council Tax bands based on their value as of 1
