The way in which HMRC charges penalties for late VAT return submissions and late VAT payments has changed. All VAT return periods starting on or after 1 January 2023 will be caught under the new VAT penalty system.
Tax
Less than a month until self-assessment deadline
With less than a month before the self-assessment deadline on 31 January 2025, a significant number of taxpayers are...
The abolition of non-domicile status
In the Autumn 2024 Budget, Chancellor Rachel Reeves announced significant reforms aimed at non-domiciled (non-dom)...
Capital Gains Tax changes following the Autumn Budget
Many speculated an increase in Capital Gains Tax “CGT” rates would be announced in Labour’s first budget and they were...
Raising Share Capital
Often limited companies may find it difficult to raise funds, whether they be starts up, those looking to expand or...
Tax-free Christmas parties and staff gifts
Christmas is fast approaching us. You may be considering rewarding your employees for their hard work over the last year with a tax-free gift or a staff Christmas party.
Are you affected by the Inheritance Tax changes in the Budget?
There had been wide speculation as to the changes that a new Government might bring to the Inheritance Tax (IHT)...
Employers: Avoid unwanted attention
The latest tax gap figures show a black hole of more than £3 billion for PAYE. This gap is being put down to employer...
Case Study: Jointly-owned property: get it right
A need-to-read case came before the Tax Tribunal recently. The property and the problem This was the story of an...
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