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What’s happening?

Here you can keep up to date with our latest news, as well as the latest goings-on in the world of accounting.

Fraudsters have been blocked from using HMRC’s most used helpline numbers after the introduction of new defensive controls. These fraudsters had been able to make calls to taxpayers across the UK which appeared to be coming from HMRC by mimicki... 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 telepho... Read More

The Cycling Minister, Michael Ellis, has announced a number of changes to the Cycle to Work scheme in an announcement that was timed to coincide with Bike week. Bike week is an annual celebration to showcase cycling across the UK and runs from 8 &nda... Read More

Under the current rules non-resident companies with a trading business in the UK are liable to pay UK Corporation Tax on their profits made through a permanent establishment/branch or agency. This includes trading income and any income from property... Read More

Advisory fuel rates are intended to reflect actual average fuel costs and are updated quarterly. The rates can be used by employers who reimburse employees for business travel in their company cars or where employees are required to repay the cost of... Read More

The government has announced new plans to crackdown on high pressure and bullying tactics to sell pre paid funeral plans. These tactics are often used to target those who are old and vulnerable and unaware exactly what they are buying. In some cases,... Read More

There are distinct rules that VAT registered businesses must follow when keeping VAT records. This includes keeping proper business and accounting records, a separate VAT account as well as copies of all VAT invoices received and issued. There is no... Read More

If a permanent home (domicile) is in the UK then any foreign situated property owned at date of death will be chargeable to Inheritance Tax. The site of an asset is usually the place where the asset in question is considered to be loca... Read More

If you are self-employed and running a business from your home, there are simplified arrangements available for claiming a fixed rate deduction for certain expenses where there is a mix of business and private use. The simplified expenses rules are n... Read More

The Working Tax Credit (WTC) is designed to help taxpayers on low incomes by providing top-up payments and includes those who do not have children. There are extra amounts available for qualifying childcare expenses and working households in whi... Read More

There are many taxpayers who have reached the State Pension age and continue to work. In most cases they no longer need to pay any National Insurance Contributions (NICs). At State Pension age, the requirement to pay Class 1 and Class 2 NICs on... Read More

The assessment of self-employed or partnerships profits is usually relatively straight-forward if the accounting date - the date to which accounts are prepared - falls between 31 March and 5 April. However, overlap profits can arise where a... Read More