From the 2024/25 tax year, cash basis accounting will become the default method for most sole traders and partnerships completing their Self-Assessment tax return. But is this new approach right for you, or would sticking with accrual accounting give you better control over your finances? In this blog, we break down the key differences between […]
HMRC Nudge Letters: What they are and how to respond
HMRC has been and will continue to increasing its use of ‘nudge letters’ to encourage taxpayers to check their tax affairs and correct any errors. If you receive one, it’s important to understand what it means and how to respond appropriately. What are HMRC nudge letters? Nudge letters are issued by HMRC when they believe […]
Budget 2024 – Key takeaways
Capital Gains Tax (CGT) Inheritance Tax (IHT) National Minimum Wage (NMW) Employers National Insurance Stamp Duty Land Tax (SDLT) Private School Fees Tax Administration Business Taxes in general Corporate Tax Roadmap – The government has published a Corporate Tax Roadmap. The roadmap includes a commitment to cap the Corporation Tax Rate at 25%; maintain the […]
Spring Budget 2024
Key changes taking effect from 1st April.
The Tax implications of buying a Garden Office through your Limited Company
As home working looks like it’s here to stay, we are being asked more and more about whether clients can pay for a garden office, or pod, through their limited company.
Claiming expenses for charging your car at home
HMRC has made a change to its policy that affects employers who reimburse employees for the electricity used to charge their company vehicles at home.
What is a Personal Tax Account?
Personal Tax Accounts (PTAs) were launched in 2015 and works as an online resource to allow taxpayers to review and update their details in real time. For many routine requests and services using the PTA can avoid having to phone or write to HMRC.
Correcting errors on your VAT return
Where an error on a past VAT return is uncovered taxpayers have a duty to correct the error as soon as possible.