The Secretary of State for Business, Energy & Industrial Strategy has written a letter to local authorities in England urging them to help support businesses in the hospitality and leisure sectors as efficiently as possible.
Just before ... read more
27-01-2022 Filing obligations for private limited companies
It is important that anyone responsible for the accounts and tax filing regime for private limited companies is aware of their obligations.
After the end of its financial year, a private limited company must prepare full annual accounts and a ... read more
27-01-2022 Tax and customs duties for goods sent from abroad
There are special rules to help ensure that goods sent from abroad are taxed appropriately and to ensure that UK businesses supplying goods in the UK, for example by having to compete with VAT free imports, are not disadvantaged. This includes goods ... read more
27-01-2022 How CIS off-set works in practice
The Construction Industry Scheme (CIS) is a set of special rules for tax and National Insurance for those working in the construction industry. Businesses in the construction industry are known as 'contractors' and 'subcontractors' and should be ... read more
27-01-2022 Who should register for Plastic Packaging Tax
The new Plastic Packaging Tax will come into effect from 1 April 2022. The tax will not apply to any plastic packaging which contains at least 30% recycled plastic, or any packaging which is not predominantly plastic by weight. The tax will be ... read more
27-01-2022 VAT Flat Rate Scheme exclusions
The VAT Flat Rate scheme has been designed to simplify the way a business accounts for VAT and in so doing reduce the administration costs of complying with VAT legislation. Using the Flat Rate scheme, businesses pay VAT as a fixed percentage of ... read more
27-01-2022 Tax Diary February/March 2022
1 February 2022 - Due date for Corporation Tax payable for the year ended 30 April 2021.
19 February 2022 - PAYE and NIC deductions due for month ended 5 February 2022 (If you pay your tax electronically the due date is 22 February 2022).
19 ... read more
20-01-2022 Leaving gifts to charity in your Will
The government introduced new rules to encourage charitable giving on death in 2012. The rule which has remained unchanged ever since means that a reduced rate of Inheritance Tax (IHT) of 36% (reduced from 40%) applies where 10% or more of a ... read more
20-01-2022 Tax relief for working from home
If you are an employee working from home, you may be able to claim tax relief for some of the bills you pay that are related to your work.
Employers can reimburse employees for the additional household expenses incurred through regularly working at ... read more
20-01-2022 Replacement of domestic items in let property
The replacement of domestic items relief has been in place since April 2016. The relief allows landlords to claim tax relief when they replace movable furniture, furnishings, household appliances and kitchenware in a rental property. The allowance is ... read more