Insights

Browse 257 Insights about Tax

The Future Of Tax Payments Is In Instalments 24 Dec 2021 Tax, Trends - As part of MTD, it is likely that over the coming years HMRC will encourage taxpayers to pay their tax liability in monthly instalments.
Reporting Covid-19 Support Payments on Your Self-Assessment 23 Dec 2021 Deadlines, Tax - Self-assessment tax returns for the fiscal year ending 5 April 2021 are due on 31 January 2022.
R&D Tax Credit updates and how they impact your business 15 Dec 2021 Tax - At Autumn Budget 2021, the government announced important updates to the current R&D tax credit, which will come into place on the 1st of April 2023.
Annual Investment Allowance (AIA) Transactional Limit Ends On 31 December 2021 15 Dec 2021 Deadlines, Tax - If you are planning capital expenditure of more than £200,000, and you have a 31 December year end, it would be advisable to incur the expenditure before the end of the year to benefit from £1 million limit.
Autumn Budget 2021: Finerva Insights Into What It Means For UK Business 27 Oct 2021 COVID-19, Policy, Tax - What are the key takeaways in the Autumn Budget for the community of founders and entrepreneurs?
Pension Annual Allowance – Making Tax-relieved contributions 1 Sep 2021 Tax - The annual allowance limits the amount that an individual can make in tax-relieved pension contributions across all their pension schemes.
When Do I Need To Register A Company For VAT? 1 Sep 2021 Tax - You must register your business for VAT if your company's VAT taxable turnover exceeds the registration threshold. This is currently £85,000.
Payroll: RTI Penalties And Grace Period 1 Sep 2021 Deadlines, Employment, Tax - With RTI, penalties are charged if the FPS is filed late or if HMRC did not receive the expected number of FPSs or an Employer Payment Summary
Bounce Back Loans And Directors’ Loan Account 1 Sep 2021 Fundraising, Tax - Personal use of the loan could also mean a large tax bill for the company if it is not repaid into the company's bank account within 9 months.
Tax Consequences Of ‘Illegal’ Dividends 27 Jul 2021 Bookkeeping, Employment, Tax - If a director sanctions illegal dividend payments, there can be significant tax for both the individual concerned and the company.
Termination Payments And Class 1A National Insurance 27 Jul 2021 Employment, Tax - When terminating an employment, the employer may need to pay Class 1A National Insurance on a termination award made to the employee.
No Retained Profits – How To Extract Cash To Cover Living Expenses? 21 Jul 2021 Bookkeeping, Employment, Strategy, Tax - A popular strategy is to take a small salary which is at least equal to the lower earnings limit and to extract further profits as dividends.