HMRC’s use of artificial intelligence – How AI is assessing the risk of tax evasion by businesses
We are increasingly hearing more and more about artificial intelligence (AI) and how its use can change our way of working both now and in …
Working for an umbrella company – Be aware of the risks
Recruitment agencies often use umbrella companies to pay temporary workers. HMRC confirms that there is no statutory definition of an umbrella company and currently describes …
Pre-trading expenses – Be aware of the rules
People set up in business for a variety of reasons. For some it is a dream that becomes a reality some years later. In working …
NMW from April 2024 – Make sure you comply
Employers must pay their workers at least the statutory minimum wage for their age. Depending on the age of the worker, they may be entitled …
Register to payroll benefits in kind
Employers can opt to deal with taxable benefits in kind through the payroll (known as ‘payrolling’) rather than reporting them to HMRC after the end …
Relevant motoring expenditure and NIC – Are you due a refund?
For tax purposes, where an employee uses their own car for work, mileage allowances can be paid tax-free up to the approved amount, which is …
Making pension contributions before 6 April 2024
As the end of the tax year approaches, it is prudent to review your pension contributions for the year and consider whether it is worth …
Extracting further profits in 2023/24
As the end of the tax year approaches, it is prudent for those operating their business as a personal or family company to review the …
Using a period of grace election for furnished holiday lettings
The cost of living crisis has impacted on people’s ability to take holidays and short breaks. If you are a landlord letting a furnished holiday …
Making Tax Digital for landlords
Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) is introduced from 6 April 2026 From the outset, it will apply to unincorporated …
Making use of the property allowance
It is possible to enjoy tax-free income from property, even if you have already used up your personal allowance. This is because the property allowance …
What to do if you receive one of HMRC’s nudge letters
HMRC believes that not everyone is paying the correct amount of tax, estimating what it terms as ‘the tax gap’ as being ‘4.8% of total …
