News of “HMRC late penalties hitting the self-assessors” is getting rounds now days. This news takes place when Moore Stephens (a chartered accountancy firm) obtained their figures from revenue [...]
Every individual running a business must have some basic understanding of the tax rules & its conditions in order to maximise the benefits from the business and minimise the taxes [...]
As per change in IR35 rules for freelancers in public sector in April 2017, HMRC is currently busy in challenging the employment status of dentists working for big dental companies on freelancing [...]
On 5th March 2019, HMRC launched its consultation on introducing the off-payroll working rules to the private sector from 6th April 2020. In the Autumn Statement 2018, HMRC had announced its intention [...]
Capital Gains Tax (CGT) is the tax a person has to pay on the gains/profit earned when an asset has been sold/disposed. When You Need to Pay Capital Gain Tax? CGT is only paid when the overall [...]
What is travel and subsistence? The cost that is incurred during your official or business travel and also includes accommodation and food during the time is travel and subsistence costs. [...]
Tax Issues for Start-up For organisations planning to set-up a business in the United Kingdom, the key tax issues might encompass: Corporation tax compliance Employment taxes Value added [...]
What is VAT Capital Goods Scheme? The Value Added Tax (VAT) capital goods scheme has an impact on input tax retrieval with regards to high net worth capital assets. The scheme intends to focus on [...]
About Structures and Buildings Allowance (SBA) The United Kingdom Chancellor, David Lidington, on 29 October 2018 announced the introduction of a new capital allowance for buildings and [...]
Although long-pending, in the United Kingdom, HM Revenue & Customs (HMRC) has warned businesses to avoid any kind of stay in the preparation for changes to the off-payroll working rules. What is [...]