How to Appeal a Tax Penalty
There are various reasons why HMRC may issue a tax penalty. You may receive a penalty if you file your tax return late, your tax
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News
Business Asset Disposal Relief – Have you Exceeded the Limit?
HMRC have sent out nudge ‘One to Many’ letters to taxpayers who they believe may have claimed Business Asset Disposal Relief (BADR) in excess of
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Making Tax-Free Mileage Payments
If you have employees who use either their own car or a company car for business mileage, you can pay mileage allowances tax-free up to
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Cash Basis or Accruals Basis?
There are two different ways in which accounts can be prepared – the cash basis and the accruals basis. The cash basis is the default
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Swapping Your Main Residence for Capital Gains Tax Purposes
Private residence relief means that you do not have to pay capital gains tax on any gain that you make when your sell your home
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VAT Option to Tax Changes
The sale or rental of a property is normally exempt from VAT, the main exceptions being the sale of new residential property (zero-rated) or the
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Tax Implications Where Employers Pay Above HMRC’s Approved Mileage Rates
According to the RAC, average fuel prices peaked a year ago at £1.91 per litre, since levelling off at the same price as ten years
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HMRC has Closed its Phone Lines – How to Make Contact
With four days’ notice, a trial to redirect Self Assessment (SA) queries from HMRC’s phone helpline to its digital services started on 12 June, running
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Would An LLP Be Better For Your Business? Advantages & Disadvantages Compared With Companies
When setting up in business, most people weigh up the pros and cons of operating as an unincorporated business or a limited company. However, there
Are You Ready For The Change? Self-Employed – Basis Period Reform
As part of HMRC’s Making Tax Digital initiative, the existing method of calculating profits on an accounting year basis is to be abolished for the
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