Latest news and updates
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...
13/06/2024
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...
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...
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...
Self-assessment taxpayers are usually required to pay their income tax liabilities in three instalments each year. The first two payments on account...
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...
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...
11/06/2024
The following notes are reproduced from a Treasury statement issued 21 May 2024. Lower inflation supports people by maintaining the purchasing power...
1 July 2024 - Due date for corporation tax due for the year ended 30 September 2023. 6 July 2024 - Complete and submit forms P11D return of benefits...
07/06/2024
The 2023-24 tax year ended on 5 April 2024 and the new 2024-25 tax year started on 6 April 2024. Most taxpayers will be happy to leave dealing with...
06/06/2024
Setting up in business as a sole trader is arguably the simplest way of starting and running a business. The advantages of being a sole trader include...
There is an online tool, developed by HMRC, that allows taxpayers to check if they need to notify HMRC about additional income. The online tool can be...