Making Tax Digital (MTD) for VAT Changes from April 2022
MTD for VAT changes include mandatory requirements for all VAT-registered businesses to file VAT returns digitally through MTD, regardless of turnover.
Self-assessment Filing Deadline has been Extended by a Month (28 February 2022)
HMRC has waived late filing and late payment penalties for self-assessment taxpayers by one month, effectively delaying the Self-assessment filing deadline to 28 February 2022.
Covid-19 Grant Payments – What Do You Need to Declare on Tax Return?
Covid-19 grant payments must be declared on the 20/21 tax return & HMRC is reminding SA customers about the same during this tax return season.
Residence Nil Rate Band (RNRB) – How Does it Work?
Residence Nil Rate Band (RNRB) was introduced in 2017 with the aim of protecting the family home from IHT. Learn all about it!
Full Customs Controls – Get Ready for Changes from 1 January 2022
Full customs controls will be introduced from 1 January 2022 and HMRC have contacted traders reminding them to prepare accordingly.
2% Digital Tax on UK-based Crypto Exchanges Has Been Confirmed
Digital Tax on Crypto Exchanges has been confirmed by HMRC in their latest update as cryptocurrencies such as Bitcoin are not commodities or money.
State Pension Increase: How Much Will Pensions Rise in 2022
In April 2022, the state pension amount will increase by 3.1% for the tax year 2022/23. Click through to learn all the details.
Staff Christmas Party Tax Rules: Are Christmas Party Expenses Tax Deductible?
As an employer providing staff Christmas party for your employees, you have certain National Insurance & reporting obligations. Read all the details here!
Basis Period Reform – What Are the New Rules?
The overall objective of the basis period reform proposal is to simplify the taxation of trading profits. Click through to learn about the new rules!
Letter From HMRC About Cryptocurrency – What Should I Do?
Read this article for the most frequently asked questions about cryptocurrency and what should you do if you receive a letter from HMRC about it!
Autumn Budget 2021: Key Points at a Glance
Autumn Budget 2021 was presented to the parliament on 27 October 2021 and here are the key points from Chancellor Rishi Sunak’s budget speech.
Dividend Tax Increase from April 2022 Across All Tax Bands
The 1.25% Dividend tax increase applies to all business owners and investors and is being brought in to help support the NHS and social care.
How to Use a Freeport Customs Site / Free Zone
If you’re a business that wants to move goods into or out of a Freeport, you will need to apply to use the Freeport customs special procedure. Click through to learn more.
New Trade Rules with the EU from 1 January 2022
New trade rules for full customs declarations and controls are going to be introduced from 1 January 2022. Click through to learn more!
How to Reduce Inheritance Tax (IHT) by Withdrawing Money from Your House
One of the most frequently asked questions by our clients these days is how to reduce Inheritance Tax (IHT)? In this article, we will aim to shed some light on how to reduce Inheritance tax […]
VAT Rate Increase from 1 October 2021
VAT rate increase from 1 October 2021 applies to hospitality businesses and the VAT rate is schedule to increase from 5% to 12.5%. The rate was reduced to 5% on 15 July 2020 as part […]