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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.

New laws have come into effect (from 26 April 2018) to help tackle the problem of identity fraud and personal harm for company directors. The new laws, which were introduced into parliament on 22 February 2018, allow company directors and others such... Read More

Enterprise zones were first launched in 2011 and are specific geographic areas that provide various tax breaks and Government support. Businesses that set-up in enterprise zones can benefit from up to a 100% business rate discount worth up to £275,00... Read More

HMRC is continuing to pressure online marketplaces marketplace (such as eBay or Amazon) to tackle online VAT fraud. Online marketplaces are already accountable for VAT fraud committed by online sellers on their platforms. These measures, known a... Read More

The Home Office and the Disclosure and Barring Service (DBS) have updated their guidance for employers on requesting DBS criminal record checks for potential employees. The updated guidance includes some useful information regarding the security feat... Read More

There are two separate £1,000 tax allowances for property and trading income that have been available to taxpayers since April 2017.The £1,000 exemptions from tax apply to:Taxpayers who make up to £1,000 income from self-employment, casual services o... Read More

There are special rules in place when a limited company gives to charity. This can include, corporation tax relief for qualifying donations made to registered charities or community amateur sports clubs (CASC) as well as capital allowances for giving... Read More

There are some simplified arrangements available to the self employed, and to some partnerships for claiming a fixed rate deduction for certain expenses where there is a mix of business and private use. The simplified expenses regime is not available... Read More

The Construction Industry Scheme (CIS) is a set of special rules for tax and national insurance for those working in the construction industry. Businesses in the construction industry are known as 'contractors' and 'subcontractors'. Under the scheme,... Read More

The employment allowance of £3,000 per year is available to most businesses and charities to be offset against their employers Class 1 NIC bill. The allowance can be claimed as part of the normal payroll process using either HMRC’s Basic PAYE Tools o... Read More

The tax benefits of driving a company car have been steadily reduced over many years. Most employers and employees are aware of the additional costs of providing company cars and the tax implications they create. However, for many employees the... Read More

Taxpayers that have not yet filed their 2016-17 self-assessment returns, will have already been charged an automatic £100 penalty for late submission. The penalty applied from 1 February 2018 even if no tax was due or the tax due was paid on time.HMR... Read More

The surprising answer to this question is usually no. This is because inheritance tax (IHT) is usually levied on a person’s estate when they die and can also be payable during a person’s lifetime on certain trusts and gifts. If you are the heir to al... Read More