Here you can keep up to date with our latest news, as well as the latest goings-on in the world of accounting.
Taxpayers are usually required to pay their Income Tax liabilities in three instalments each year. The first two payments are due on: 31 January during the tax year e.g. for 2018-19 the first payment on account is due on 31 January 2019. 31 July f... Read More
The cash basis scheme helps sole traders and other unincorporated businesses benefit from a simpler way of managing their financial affairs. The scheme was extended to landlords from April 2017. The scheme is not open to limited companies and limite... Read More
HMRC has issued an updated version of their online guidance on Genuine HMRC contact and recognising phishing emails and texts. The guidance provides a current list of genuine messages from HMRC. This includes: email messages, text messages and telep... Read More
HM Treasury has confirmed that the £1 coin will be going global. This announcement means that the UK’s Overseas Territories and Crown Dependencies will be able to design and mint their own versions of the 12-sided £1 coin replacing the older coins.... Read More
The Furnished Holiday Let (FHL) rules, allow holiday lettings of properties that meet certain conditions to be treated as a trade for some specific tax purposes. In order to qualify as a furnished holiday letting, the following criteria need to be... Read More
A new one-stop service to register a company and register for tax at the same time has been used by more than 200,000 businesses since it was introduced. The introduction of the Streamlined Company Registration Service was announced as part of the S... Read More
There are special VAT rules that allow businesses to standard rate the supply of most non-residential and commercial land and buildings (known as the option to tax). This means that subsequent supplies by the person making the option to tax will be... Read More
The government has confirmed that they are to examine a number of different approaches to help encourage the self-employed to save for their retirement. The success of automatic enrolment for pension savings for the employed has helped highlight&nbs... Read More
HMRC offers an online service to check a National Insurance record. In order to use the service you will need to have a Government Gateway account. If you don't have an account, you can apply to set one up online. By signing in to the 'Check your N... Read More
Capital Gains Tax (CGT) rollover relief is a valuable relief that allows for a delay in the payment of CGT on gains when you sell or dispose of certain assets and use all or part of the proceeds to buy new assets. The relief means that the tax on th... Read More
When a new employee is added to the payroll it is the employers' responsibility to ensure they meet the employees’ rights and deduct the correct amount of tax from their salary. This includes any employees who are family members. It is possible to... Read More
The government published Finance (No.3) Bill 2017-19 on Wednesday, 7 November 2018. The Bill is so named as it is the third Finance Bill in the current special two-year session of Parliament. The Bill, colloquially known as Finance Bill 2018-19 will... Read More
