What is an Accumulation Unit? Are They Taxable?
What are the Accumulation Units? Accumulation units are a type of share or a type of fund that provides the facility of automatically reinvesting your funds earned from an underlying [...]
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How to Mark Company as Dormant with HMRC?
A dormant company is defined as one that is listed with Companies House, however, is not performing any business operations or generating any business income. In such a scenario, the company is [...]
What are the Landfill Tax Rates for 2018?
What is Landfill tax? How is it charged? Landfill tax applies to all kinds of waste and is explained by Notice LFT1 A as to what counts as waste. Landfill tax applies to all waste: [...]
Do You Pay Tax on Personal Injury Compensation?
Do you pay tax on Personal Injury Compensation? As a general rule, personal injury compensation is not taxable. Despite whatever the situation may be, you will not be required to pay any kind of [...]
Are Payments Made For Legal Settlements Taxable?
What is a Legal Settlement? In terms of the law, a legal settlement is an act of settling or adjusting a dispute between individuals or groups of individuals without pursuing the matter [...]
VAT Accounting on Dealer Deposit Contributions (DDC) in Motor Retail Trade
HMRC in its latest policy has recognised that motor dealers, finance companies and customers have adopted different VAT accounting systems (mostly applying Regulation 38ZA) when they are making [...]
House of Fraser's Employees to Lose Pension? How to Save Your Pension Scheme?
After operating for more than a century in the British department store the House of Frasers entered into administration on 10th August. The store's last hope of securing funds went in vain when [...]
Download D4 Form | DVLA's Medical Exam
D4 Form Download D4 form is to be submitted by the HGV (heavy goods vehicle) drivers to the DVLA after they have undergone a medical exam. This form is to be submitted along with the [...]
Change Accounting Reference Date (ARD) - Procedure
What is"Accounting Reference Date"? For a layman, the term accounting reference date means the end of a financial year for a limited or a limited liability company. In short form referred to [...]
Split Year Treatment Under Statutory Residence Test
What is Split Year Treatment? As per the Statutory Residence Test (SRT), if an individual becomes a United Kingdom citizen between a tax year, the preliminary proposition is that the [...]