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VAT flat rate scheme – Pros and Cons 5 Sep 2022 Tax - The flat rate scheme is only available to VAT-registered businesses which expect their annual VAT taxable turnover to be £150,000 or less.
Incorporation relief (IR): Conditions and problems 16 Aug 2022 Tax - Importantly the relief applies automatically if the conditions are met, although an election can be made to disapply.
When personal bills are paid by the company 16 Aug 2022 Tax - How tax is calculated and if it is the employee or also the employer who is liable for NI, depends on the name that bill is made to and who pays the bill.
Post-cessation receipts and expenses 16 Aug 2022 Tax - Post-cessation income and expenses include insurance payments, debt repayments and defective work related costs.
Deductible business expenses 16 Aug 2022 Tax - The key rule of deductible business expenses is that they must be incurred wholly and exclusively for the purpose of that business.
Relief for pre-trading expenses 15 Aug 2022 Tax - Did you know that you can claim tax relief for your business pre-trading costs such as premises, recruitment, website, IT, and marketing?
Paying mileage allowances at the approved rate 15 Aug 2022 Tax - The idea behind approved rates is to cover all costs when using a personal car for business in an effective manner.
Common mistakes in R&D claims 24 Jul 2022 Investment, Tax, Tech - The number of R&D claims were rising in the last couple of years, and so did the number of employees HMRC hired to help approve those claims and investigate possible fraudulent claims.
R&D Tax Credits Changes Coming Into Effect Next Year 22 Jul 2022 Fundraising, Policy, Tax - The reform is part of the government's ambitious aim to foster investment in R&D up to 2.4% of UK GDP by 2027.
The baseline of your R&D Tax Credit claim 19 Jul 2022 Tax, Tech - The baseline helps companies to prove that they are producing something new and innovative.
New VAT Penalty Regime 13 Jul 2022 Bookkeeping, Clients, Deadlines, Policy, Tax - For VAT periods starting on or after 1 January 2023, the default surcharge will be replaced by new penalties.
National Insurance changes for self-employed 12 Jul 2022 Employment, Tax - The starting point for Class 2 contributions will increase from 6 April 2022 to align it with the starting point for Class 4 contributions.