Self-assessment Deadline and Penalties
A Self-assessment (SA) tax return is usually required if a taxpayer has other income apart from regular PAYE income. Find out if you need to file a tax return. Important Dates for [...]
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What Expenses Employees Can Claim?
If you are an employee and you spend certain business expenses yourself for performing your duties for business, that your employer does or does not reimburse, you might be able to get tax relief. [...]
EIS Checklist – Why Investors May Fail To Qualify For Relief?
Enterprise investment scheme (EIS) is a venture capital scheme designed for companies to raise money with the help of individual investors, for growth and development of the business. It offers [...]
Do I need to complete a Self-Assessment Tax Return?
In this article we look at whether you need to register and file for self assessment tax return. In a recent data published by HMRC around 47 million people have taxable income in the UK, out of [...]
HMRC Defeats BBC Presenter "Christa Ackroyd" In IR35 Upper Tax Tribunal
In February 2018, there was a decision taken by the first-tier tribunal stating that Ms. Christa Ackroyd PSC "Christa Ackroyd Media Ltd." is liable to pay outstanding tax and national insurance [...]
Paying Employee’s Relocation Costs without Creating a Tax Liability
Employer’s sometimes pay a certain amount of money to their existing employees or a new candidate joining the company for relocation costs from one place to another. The relocation cost may be [...]
BBC Presenters Defeated By HMRC In IR35 Tax Tribunal
News of “BBC presenters defeated by HMRC in IR35 tax tribunal” is getting around nowadays which is expected to impact the broadcasting industry. All three of the presenters named David Eaves [...]
UK Businesses Buying From Other EU Countries And How To Claim VAT?
In this day and age of digitalisation & globalisation, imports & exports have become increasingly popular. For example – e-bay and amazon trade have increased more than 10 times in last [...]
HMRC Late Penalties For Self-Assessment Surged by 14%
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 [...]
Trivial benefits: Not Trivial Enough to Ignore
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 [...]