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Making Tax Digital: preparing accountants for MTD

Next year sees the rollout of the extension to Making Tax Digital for self-employed people, which means accountants need to start preparing their clients, explains Lee Murphy, managing director at…
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HMRC advisory fuel rates from 1 September 2021

HMRC have published company car advisory fuel rates for use from 1 September 2021. The rates apply when employers reimburse employees for the cost of fuel for business travel in…
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91% of SMEs support change to tax year

 A survey by accountancy firm BDO found that 91% of mid-sized businesses overwhelmingly support a change to the tax year from 4 April to 31 December. Nine out of 10…
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Cryptoassets for businesses – tax implications

The tax implications of buying, using and selling cryptoassets from the point of view of a person (an individual or a company) carrying on, or intending to carry on a…
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STEP warn all small businesses drawn into MTD in April 2023

The Society of Trust Practitioners (STEP) has claimed that HMRC’s proposals to reform accounting basis periods will push all small businesses and landlords into the Making Tax Digital (MTD) income…
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Tips to maximising your R&D tax credit claim

If you want to get the most benefit for your client’s business through R&D tax credits, you have to maximise your claim. This will involve doing a lot of research…
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HMRC issue marriage allowance claims reminder

HMRC have issued a reminder that married couples and those in civil partnerships could reduce their income tax by up to £252 a year by sharing their Personal Allowances. Marriage…
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What would CGT reform mean for UK entrepreneurs?

Rarely does a day go past without tax reform rearing its head in a daily financial news bulletin. In particular, continued talk of capital gains tax (CGT) reform in the…
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Filing deadlines: August – December 2021

2 August             Forms P46(Car) for quarter ended 5 July (where benefits not payrolled) to reach HMRC by this date 5 August             Employment intermediary’s quarterly…
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HMRC clarifies penalty scheme for deferred VAT

HMRC has confirmed that the penalty regime for non-payment of VAT due to the deferred VAT scheme introduced at the start of the pandemic is now in place A financial…
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