VAT is often thought of as a relatively simple tax; if a business is VAT registered, 20% VAT is usually charged. However, in practice, the VAT system is more complicated. What is being supplied, who is doing the supplying/buying, where the supply takes place and whether particular conditions and evidence requirements are met determines whether […]
Ensuring VAT is charged correctly Read More »
By now the first quarter’s Making Tax Digital (MTD) submissions should have been made. However, by 12 August, just over 436,000 of the estimated 864,000 taxpayers affected had submitted their first quarterly update. Many taxpayers have questioned why the new system has been introduced, with some wondering whether it is simply a precursor to quarterly
April 2029 – Taxpayers’ payment dates may be changing Read More »
Not all taxpayers owe money – sometimes they are due a repayment. This may be for a number of reasons, and the method by which that repayment is obtained varies depending on which type of tax the repayment relates to. The rules also differ depending on whether the repayment arises from an amended return, a claim
Do deadlines matter for tax refunds? Read More »
Should your company buy your bike?Getting around a city by bus, car or taxi can be frustrating, with traffic congestion often making journeys slow and unpredictable. Travelling by bicycle can be quicker, cheaper and better for the environment. If you run your own limited company, buying a bicycle through the company can also be a
Should your company buy your bike? Read More »
In November 2025, the government announced a joint strategy involving HMRC, the Insolvency Service and Companies House to crack down on what is termed ‘contrived insolvencies’, i.e. company closures engineered to avoid paying tax using so-called ‘phoenix companies’. The measures signal a tougher approach to directors who repeatedly abandon companies with unpaid tax liabilities before
Phoenix companies: HMRC’s tougher approach to contrived insolvencies Read More »
Whether you sell unwanted items on eBay or Vinted, rent out a property on Airbnb, freelance through online platforms, drive for a delivery app, earn money as a content creator, gardener, babysitter or even hire out personal equipment, it is important to understand when this extra income needs to be reported to HMRC.The government has
Side hustles, online selling and the trading allowance: What you need to know Read More »
Individual Savings Accounts (ISAs) are tax-free savings accounts. There are four different types of ISAs: Individuals must be at least 18 to invest in an ISA. Cash ISAs may be with a bank, building society, or National Savings and Investments. Stocks and share ISAs can include shares in companies, unit trusts and investment funds, corporate bonds,
Using your ISA allowance in 2026/27 Read More »
Where an employee is provided with a company van that is available for private use, a tax charge may arise under the benefit-in-kind legislation. However, this will not always be the case. Unlike company cars, where a van benefit charge does arise, it does not depend on CO2 emissions. Instead, it is a set amount.
Taxation of company vans in 2026/27 Read More »
When an employee works from home, they may incur additional costs, such as higher gas and electricity bills. The tax system offers some help where the employer meets some or all of these additional costs. However, the relief previously available to employees who met these costs themselves will be withdrawn from 6 April 2026. Expenses
Costs of working from home Read More »
The Employment Allowance is a very valuable allowance which allows eligible employers to reduce their secondary Class 1 National Insurance bill by up to £10,500 in 2026/27. The allowance is not given automatically and must be claimed. Who can claim Employers can claim the allowance if they are a business or a public body and
The Employment Allowance – Can you claim it? Read More »