25% Corporation Tax from April 2023
The planned increases in Corporation Tax (CT) rates from April 2023 are now proceeding as originally announced. The Corporation Tax main rate will increase to 25% from 1 April 2023 for companies with Read More
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Claiming back pre-trading VAT costs
There are special rules that determine the recoverability of pre-trading VAT costs. Pre-trading VAT costs describe VAT that was incurred before a business registered for VAT and is known as Read More
Autumn Finance Bill published
The government published the Autumn Finance Bill 2022 on 22 November 2022. The Bill is officially known as Finance Bill 2022-23. The Bill contains the legislation for many of the tax measures Read More
Who is a Scottish taxpayer?
The Scottish rate of income (SRIT) is payable on the non-savings and non-dividend income of those defined as Scottish taxpayers. This means that Scottish taxpayers who also have savings and dividend Read More
Filing abridged company accounts
Companies that are dormant or qualify as a small company or ‘micro-entity’ can choose to send a simpler set of accounts known as abridged accounts to Companies House and do not need to be audited. Read More
Use HMRC’s tax app to save time
A free HMRC tax app is available and offers some useful functionality. In fact, in the 12 months up to October 2022, HMRC received almost 3 million calls from people asking for information that is now Read More
Low-cost broadband and phone tariffs
The Department for Digital, Culture, Media & Sport (DCMS) has published a new press release to confirm that they have been working together with internet service providers to deliver low-cost Read More
Self-assessment payments on account
Self-assessment 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 2022-23 Read More
MTD for ITSA
The introduction of Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) is set to commence from April 2024. This means that clients who have not yet prepared for the change have less than Read More
Reminder of working from home allowances
Employees who work from home may be able to claim tax relief for bills they pay that are related to their work. Employers may reimburse employees for the additional household expenses incurred Read More
