Dispose of your business early to benefit from BADR rates
Business Asset Disposal Relief (BADR) is a valuable relief that reduces the rate of capital gains tax payable on gains made at the disposal of …
Tax-efficient Christmas parties and gifts
Employers looking to spread some seasonal cheer can do so in a tax-efficient manner by taking advantage of the exemptions for annual parties and functions …
VAT invoice and accounting controls
VAT-registered businesses that use invoice accounting generally account for VAT when invoices are issued and received. HMRC have recently published new Guidelines for Compliance which …
Missing years for home responsibilities protection?
Entitlement to the full state pension depends on having sufficient qualifying years. Where a person reaches state pension age on or after 6 April 2016, …
File tax return by 30 Dec to pay via PAYE
If you pay tax through PAYE, as will be the case if you are an employee or a pensioner, you may need to complete a …
Setting up as a sole trader
When starting a business, there are a number of ways in which this can be done. Options include operating as a sole trader, forming a …
Overdrawn Director’s Loan – Must Your Company Pay Tax?
In personal and family companies, the lines between the company’s finances and the director’s finances may become blurred. A director may withdraw money from the …
Restarting child benefit claims
Many parents who fell within the ambit of the High Income Child Benefit Charge (HICBC) opted not to receive child benefit, rather than to receive …
What HMRC do if you don’t pay tax?
HMRC have a range of powers at their disposal to collect unpaid tax. If you are struggling to pay a tax bill or know that …
Do I need to worry about IR35?
If you provide your services personally to an end client through your own limited company or other intermediary, you may fall within the scope of …
How to verify genuine HMRC letters
Scammers are becoming increasingly adept at fooling people and a favoured tactic is a letter, a text, a phone call or an email purporting to …
Voluntary tax disclosure to HMRC
There are various reasons why a person may not have told HMRC about the tax that they owe, ranging from a simple oversight to the …
