Tax News

HMRC widens the net for Trust reporting via the Trust Registration Service

HMRC widens the net for Trust reporting via the Trust Registration Service

Date posted: 27th May 2022

IMPORTANT NOTICE FOR ALL TRUSTEES, CO-OWNERS OF PROPERTY AND THOSE WITH INVESTMENTS HELD IN TRUST. As a result of the latest money laundering directive, HMRC have extended the…

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Employment Related Securities Reporting

Employment Related Securities Reporting

Date posted: 27th May 2022

Have you issued shares or options to Company employees during the 2021/2022 tax year? If a company employee, or associate of an employee, has acquired securities, either from…

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Changes to VAT penalties and VAT Interest charges

Changes to VAT penalties and VAT Interest charges

Date posted: 25th May 2022

Changes to VAT penalties and VAT interest charges which were due to be introduced for VAT return periods beginning on or after 1 April 2022 have been postponed…

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Do I need a holding company?

Do I need a holding company?

Date posted: 24th May 2022

We are being asked by many clients whether they need a holding company. The answer is mostly always “it depends”. Whilst a holding/parent company that is virtually inactive…

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What is a PAYE settlement agreement and when can it be used?

What is a PAYE settlement agreement and when can it be used?

Date posted: 24th May 2022

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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Job related expenses – how to claim tax relief

Job related expenses – how to claim tax relief

Date posted: 24th May 2022

If you are an employee and you personally incur expenses in carrying out your job, you may be able to claim tax relief for those expenses. Relief is…

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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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