HMRC launches VAT Registration Estimator

HMRC has launched a digital tool to help businesses estimate what registering for VAT may mean for them.

The VAT Registration Estimator helps to show businesses when their turnover could require…

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Advisory fuel rates for company cars

New company car advisory fuel rates have been published and took effect from 1 September 2024.

The guidance states: 'you can use the previous rates for up to one month from the date the…

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HMRC urged to take action to defuse side hustle time bomb

HMRC has been urged to defuse a tax bombshell threatening online traders, by the Low Incomes Tax Reform Group (LITRG).

The LITRG, which is part of the Chartered Institute of Taxation (CIOT),…

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Chancellor asks OTS to review capital gains tax

Chancellor Rishi Sunak has asked the Office of Tax Simplification (OTS) to carry out a thorough review of capital gains tax (CGT).

In a letter to the OTS, the Chancellor requested that the…

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Self assessment deadlines

Two self assessment deadlines are approaching:

  • 5th October 2020
    For those individuals who have not previously completed a tax return but need…

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Ministers announce new grants for businesses affected by local lockdowns

Businesses in England that are required to shut because of local interventions will now be able to claim up to £1,500 per property every three weeks.

To be eligible for the grant, a business…

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Virtual Christmas parties will qualify for tax exemption

HMRC has confirmed that they will accept a virtual Christmas party as an event which is capable of falling within the tax exemption rules for annual functions.

The Association of Taxation…

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Self-Employment Income Support Scheme

HMRC is advising the self employed that the Self-Employment Income Support Scheme (SEISS) has been extended. Taxpayers who were not eligible for the first and second grant will not be eligible for…

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Bonus of £1,000 to help businesses take on trainees

The government has announced that employers can now apply for a £1,000 bonus, a cash boost, to help them take on new trainees.

The new scheme will support young people to gain the skills…

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