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Your stake in your business

Ever wondered how your stake in your business is represented in your accounts? The answer can be found at the ...

The ‘fiscal’ goal posts will be moving

In the coming months we will start to see how our new government intends to change the UK tax rules ...

Ordering documents from Companies House

Companies House offers interested parties the ability to order certified copies of certificates and documents held on the Companies House ...

Taxable and non-taxable State Benefits

Whilst there are a large number of state benefits available, it is not clear which of these benefits are taxable ...

Gains on sale of shares

Capital Gains Tax (CGT) is normally charged at a simple flat rate of 20% (but see comments below) when you ...

Child benefit for 16 to 19 year olds

The child benefit rates for the only or eldest child in a family is currently £25.60 and the weekly rate ...

The NIC Employment Allowance

The Employment Allowance benefits eligible employers by reducing their National Insurance liability. The current allowance is £5,000. An employer can ...

When you cannot use the Property or Trading Allowances

Two separate £1,000 tax allowances for property and trading income were introduced in April 2017. If you have both types ...

Responding to a personal data breach

The Information Commissioner’s Office has a simple guide that explains what you need to do in the 72 hours following ...

The new Chancellor’s first speech

The Chancellor has promised to take immediate action to fix the foundations of the economy, rebuild Britain and make every ...

Are mega sized marshmallows zero-rated?

In the UK most basic food stuffs are zero rated. However, the definition of 'basic' is not straightforward and many ...

Business VAT responsibilities

The taxable turnover threshold that determines whether businesses should be registered for VAT is currently £90,000. Businesses with turnover below ...

Restarting a dormant company

HMRC must be informed when a non-trading or dormant company restarts trading and becomes active for Corporation Tax purposes. Companies ...

Company filing obligations

It is important that anyone responsible for the accounts and tax filing regime for private limited companies is aware of ...

Inheritance and tax

As a general rule, an individual who inherits property, money or shares is not liable to pay tax on the ...

Labour win landslide election result

As had been widely predicted, the results at the polls have seen the Labour Party back in power after 14 ...

Exit plans

Exit can be seen as quitting, especially if the exit discussed is your business interests. But actually, business exit planning ...

New government

Our new government, and in particular, Rachel Reeves, the new Chancellor, will be responsible for raising the funds that our ...

Statutory redundancy pay

If you have been in the same job for two years or more and are made redundant you will usually ...

Claim full expensing or 50% FYA

Full expensing allows for a 100% first-year capital allowance for qualifying plant and machinery assets and came into effect last ...

Late night taxi for an employee

There is no specific requirement for employers to provide employees with transport home. Nevertheless, an employer has a duty of ...

Income Tax in Scotland

The Scottish rate of income tax (SRIT) is payable on the non-savings and non-dividend income of those defined as Scottish ...

What your tax code means

The letters in your tax code signify your entitlement (or not) to the annual tax free personal allowance. The tax ...

CGT Incorporation Relief

Where a taxpayer owns a business as a sole trader or in partnership, a capital gain will be deemed to ...