News

Are you prepared for changes to the income tax basis?

Unincorporated businesses, including sole traders, the self-employed and trading partnerships, will be taxed on profits generated in the 12 months to 5 April each year

Survey shows taxpayers are still unprepared for Making Tax Digital switchover

A new survey on Making Tax Digital (MTD) shows taxpayers have an alarming lack of readiness and enthusiasm for the changeover and a lack of awareness that MTD for

The benefits of taking on an apprentice

With the current labour shortage affecting pretty much all areas of the economy, taking on an apprentice could reap rewards for many businesses.

Be prepared if you decide to adopt a working from home policy

There seems little doubt now that the working from home phenomenon has become established. With a laptop, a phone and an internet connection, many tasks can be perform

How to minimise Inheritance Tax bills as house prices surge

More and more people are being drawn into paying Inheritance Tax (IHT), as the price of property soars. This is because former Chancellor Rishi Sunak froze the nil

‘Umbrella’ contracts firm loses £11m tribunal case against HMRC

A company has lost an £11 million dispute with the taxman over whether contract construction workers were entitled to claim travel costs tax-free. As many as 600,000

Britons lose millions in penalty charges as they cash in LISAs

Thousands of Britons facing a cost-of-living crunch have been withdrawing funds from their Lifetime ISA (LISA) accounts and getting hit with significant penalty charge

How hard-pressed SMEs can obtain business support

Small businesses are the lifeblood of the UK economy, but with rapid inflation and other economic headwinds making trade difficult, they can struggle to access support

Be prepared for changes to VAT penalties and VAT interest charges

Changes to charges and penalties applied to late submission of VAT returns will kick in from January next year. For the VAT period starting on or after 1 January 2023