Tax News

PAYE settlement agreements – do you need one?

PAYE settlement agreements – do you need one?

Date posted: 13th Apr 2023

If an employer provides a benefit to an employee (company car, private medical, gym membership etc), then it is usually the case that such benefits are declared on…

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Property ownership – what are the tax differences?

Property ownership – what are the tax differences?

Date posted: 13th Apr 2023

Under English law, there are two ways in which property can be owned jointly – as joint tenants or as tenants in common. The way in which a…

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Tax relief deadline – expiring on 5 April 2023

Tax relief deadline – expiring on 5 April 2023

Date posted: 7th Mar 2023

If you have previously not claimed full tax relief for say gift aid donations or pension contributions, then in most circumstances, you have four years to make a…

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New corporation tax regime from 1 April 2023

New corporation tax regime from 1 April 2023

Date posted: 7th Mar 2023

Changes to the corporation tax regime come into effect from 1 April 2023 – the start of the financial year (FY) 2023. From that date there will no…

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Letting a property at a discounted rate – what are the tax issues?

Letting a property at a discounted rate – what are the tax issues?

Date posted: 7th Mar 2023

It is important that you are aware of the tax issues if you let property at a lower than market rate rent to a friend or family. For…

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Tax return errors – what are the penalties?

Tax return errors – what are the penalties?

Date posted: 7th Mar 2023

As well as charging interest on tax paid late, HMRC may also levy a penalty where there is an error in a tax return. These penalties may be…

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HMRC nudging taxpayers again

HMRC nudging taxpayers again

Date posted: 7th Mar 2023

Due to the alleged abuse of the Research and Development (R&D) tax relief schemes, HMRC have issued “nudge” letters to the directors of several claimant companies asking them…

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Record keeping and reporting – updates to be aware of for businesses and individuals

Record keeping and reporting – updates to be aware of for businesses and individuals

Date posted: 9th Feb 2023

MAKING TAX DIGITAL DELAYED AGAIN Making tax digital (MTD) was originally scheduled to start in 2018 and was then put back to 2023 and then 2024. It was…

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2023 – business tax changes to look out for

2023 – business tax changes to look out for

Date posted: 9th Feb 2023

NEW VAT PENALTY REGIME A new, and arguably fairer, system for determining penalties for late returns and late payment of VAT applies to return periods commencing on or…

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When do I need to register for VAT?

When do I need to register for VAT?

Date posted: 9th Feb 2023

The turnover threshold, that governs whether businesses should register for VAT, is currently £85,000. At the 2022 Autumn Statement, it was confirmed that the threshold would remain at…

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