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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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Using Cash Basis to workout your income and expenses for your Self Assessment tax return

‘Cash basis’ is a way to work out your income and expenses for your Self Assessment tax return, if you’re a sole trader or partner. Why use cash basis If you…
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Grappling with SEISS 5 and the new turnover test

With the fifth in the series just days away, the Self-Employed Income Support Scheme (SEISS) seems intent on overtaking the Fast and Furious film franchise (which currently stands at nine).…
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Making Tax Digital rollout under the spotlight

The rollout of Making Tax Digital may have slowed due to the pandemic but there is low awareness about the next stage covering landlords, small business and partnerships, warns Kevin…
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