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Evidence required to support business expense claims

Evidence required to support business expense claims

Self-employed individuals can deduct allowable business expenses from their income when calculating taxable profits. However, businesses must keep accurate records and evidence to support the costs being claimed. HMRC requires taxpayers to keep proof of business...
Are your employment policies ready for workplace reforms?

Are your employment policies ready for workplace reforms?

Employment law continues to evolve, and businesses should keep a close eye on forthcoming changes that may affect the way they recruit, manage and retain staff. Although many of the proposed reforms are still being developed, employers should not wait until new...
Could your business survive a cyberattack?

Could your business survive a cyberattack?

Cybercrime is no longer a problem that only affects large organisations. Increasingly, small and medium-sized businesses are becoming targets because criminals often see them as having weaker security and fewer resources to recover from an attack. A successful...
When to register for Corporation Tax

When to register for Corporation Tax

Companies and other organisations that are liable for Corporation Tax must ensure they register with HMRC at the correct time. Failing to register when required could result in missed filing obligations and potential penalties. Most limited companies can register for...
Incorporation Relief may reduce your CGT bill

Incorporation Relief may reduce your CGT bill

When a sole trader or the partners in a partnership transfer a business to a limited company, Capital Gains Tax (CGT) may arise. This is because business assets are normally treated as being transferred at their market value, which may be considerably more than their...