by admin | Feb 1, 2024 | Uncategorized
HMRC’s guidance is clear that where a capital sum is derived from an asset, the relevant legislation treats the owner as having made a disposal for capital gains purposes. The legislation contained in s22 TCGA92 states that there is: “…..a disposal...
by admin | Feb 1, 2024 | Uncategorized
The coding out threshold may entitle you to have tax underpayments collected via your tax code when you are in employment or in receipt of a company pension. Instead of paying off debts in a lump sum, money is collected in equal monthly instalments over the tax year....
by admin | Feb 1, 2024 | Uncategorized
Have you missed the 31 January 2024 filing deadline for your 2022-23 self-assessment return? If you have missed the filing deadline, then you will be charged a £100 fixed penalty if your return is up to 3 months late, regardless of whether you owed tax or...
by admin | Feb 1, 2024 | Uncategorized
Businesses and self-employed people in financial distress, and with outstanding tax liabilities, may be eligible to receive support with their tax affairs through HMRC’s Time to Pay service. Any tax, duty, penalties or surcharges that you cannot afford to pay...
by admin | Feb 1, 2024 | Uncategorized
The VAT Cash Accounting Scheme can offer useful benefits to small businesses. Under standard VAT accounting, VAT is payable on sales whether or not the customer has paid and can lead to claims for Bad Debt Relief. By using the VAT Cash Accounting Scheme no VAT...
