At present, separating spouses must transfer assets between themselves by 5 April in the tax year following the date of separation in order to claim exemption from capital gains. This has always been deemed too short a period for separating…
Are you signed up to Making Tax Digital for VAT? Failure to do so will result in penalties from 1 November 2022, HRMC has confirmed.
A new survey has revealed that 93 new businesses were created every hour across the UK in the first half of 2022. According to the data, despite economic headwinds, rising inflation and rocketing energy costs, the number jumped by 18…
With the new school year fast approaching, HM Revenue and Customs (HMRC) is prompting families to make use of up to £2,000 a year towards their child’s wraparound care.
In light of the recent increase in the Bank of England’s base rate, HM Revenue & Customs (HMRC) has announced a rise in interest on both late paid tax and repayments of tax.
Being your own boss is a dream for a lot of individuals, however, the reality of running your own business can be stressful.
In the second blog of this series on tax year basis reforms, we will examine how these changes could affect unincorporated businesses.
More than a million businesses can now benefit from Help to Grow as the eligibility criteria has been expanded to cover businesses with at least one employee.
In the first blog of this series on tax year basis reforms, we will be discussing the new rules that will affect how unincorporated businesses are taxed from 2023 to 24 and consider whether it is worth changing your accounting…
HMRC is introducing a new VAT Registration Service (VRS), it has been revealed.