Tax News

Cryptocurrencies – a recap of the tax issues

Cryptocurrencies – a recap of the tax issues

Date posted: 24th May 2022

Cryptocurrencies, such as Bitcoin, are a type of electronic cash; designed to stand apart from any government or bank they work through a computer network. Records confirming Individual ownership of the…

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R&D tax relief – points to note

R&D tax relief – points to note

Date posted: 24th May 2022

If you are waiting for a tax refund as a result of an R&D claim, then you should be aware that HMRC have stopped the payments of some…

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Corporation tax increases – April 2023

Corporation tax increases – April 2023

Date posted: 28th Apr 2022

Corporation tax is being reformed and companies with profits of more than £50,000 will pay corporation tax at a higher rate than they do now. While the changes…

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Making Tax Digital for VAT for all

Making Tax Digital for VAT for all

Date posted: 28th Apr 2022

Under Making Tax Digital (MTD) for VAT, VAT-registered traders must keep electronic records and file their VAT returns electronically using software that is compatible with MTD for VAT….

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Selling your home and garden – does size matter?

Selling your home and garden – does size matter?

Date posted: 28th Apr 2022

Private residence relief reduces a tax charge from arising if there is a capital gain when a person sells a property that has been their only or main…

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Forms P11D – Return of benefits in kind

Forms P11D – Return of benefits in kind

Date posted: 28th Apr 2022

Employers who provided their employees with taxable expenses and benefits in 2021/22 need to report these to HMRC by 6 July 2022, unless they have been payrolled or…

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Personal property income – how is this taxed between co-owners?

Personal property income – how is this taxed between co-owners?

Date posted: 28th Apr 2022

As people are taxed individually, property income must be allocated, to each individual, in order to work out the tax that each joint owner is liable to pay….

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Daily penalties – coming soon…

Daily penalties – coming soon…

Date posted: 28th Apr 2022

If you still have not completed your 2020/21 Tax Return, then you need to be prepared for daily £10 penalties to apply for each day that the Tax…

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Spring Statement Summary

Spring Statement Summary

Date posted: 24th Mar 2022

The Chancellor revealed his Spring Statement on the 23rd March, where he sought to ease the impact of rising prices for households and businesses. As expected, there were…

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Tax relief deadline closing on 5 April 2022

Tax relief deadline closing on 5 April 2022

Date posted: 17th Mar 2022

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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