There are special rules that determine the recoverability of pre-trading VAT costs. Pre-trading VAT costs describe VAT that was incurred before a business registered for VAT and is known as
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A salary sacrifice arrangement is an agreement to reduce an employee’s entitlement to pay, usually in return for a non-cash benefit. The tax and NIC advantages of certain benefits provided as part of
The planned increases in Corporation Tax (CT) rates from April 2023 are now proceeding as originally announced. The Corporation Tax main rate will increase to 25% from 1 April 2023 for companies with
A defined contribution pension (sometimes referred to as a money purchase pension scheme) is a type of pension scheme where the pension pot is based on how much money is paid into the scheme. This is
A free HMRC tax app is available and offers some useful functionality. In fact, in the 12 months up to October 2022, HMRC received almost 3 million calls from people asking for information that is now
The Department for Digital, Culture, Media & Sport (DCMS) has published a new press release to confirm that they have been working together with internet service providers to deliver low-cost
Companies that are dormant or qualify as a small company or ‘micro-entity’ can choose to send a simpler set of accounts known as abridged accounts to Companies House and do not need to be audited.
The Scottish rate of income (SRIT) is payable on the non-savings and non-dividend income of those defined as Scottish taxpayers. This means that Scottish taxpayers who also have savings and dividend
Self-assessment taxpayers are usually required to pay their income tax liabilities in three instalments each year. The first two payments are due on: 31 January during the tax year e.g. for 2022-23
The government published the Autumn Finance Bill 2022 on 22 November 2022. The Bill is officially known as Finance Bill 2022-23. The Bill contains the legislation for many of the tax measures