News & Articles
Year-End Tax Planning
With the new tax year commencing next week, now's the final opportunity to undertake some end of year tax planning. If you have available funds, an obvious tax planning point would be to maximise your £20,000 ISA allowances for the 2022/23 tax year...
Making Tax Digital for income tax delayed again
Making tax digital (MTD) for income tax self-assessment (ITSA) was originally scheduled to start in 2018 and was then put back to 2023 and then 2024...
New Year resolutions to save tax
At this time of year we think about New Year’s resolutions. It is also a good time to start planning your tax affairs before the end of the tax year on 5th April. An obvious tax planning point would be to maximise your ISA allowances for the 2022/23 tax year (currently £20,000 each)...
Tax-free Christmas gifts to staff
This is a timely reminder that employers may make small tax-free gifts to employees and directors if all of the following conditions apply: The cost to the employer is £50 or less It is not cash or a cash voucher It is not a reward for their work or performance There is no contract..
The Government has u-turned on IR35 reforms
Late September into mid-October has been a turbulent time for the Government and a confusing time (at best) for taxpayers, after former chancellor Kwasi Kwarteng’s fiscal statement...
Self Assessment: Be alert to potential scams
HMRC is urging their Self Assessment customers to be vigilant of fraudsters and scams asking for personal information or bank details...
Capital allowances and the super deduction
When a business incurs costs, such as salary payments or stationary procurement, it can usually fully deduct them as expenses from its taxable profits, reducing the tax due. However, when it buys assets for operational purposes, things are not quite so straightforward...
