by admin | May 28, 2026 | Uncategorized
The option to tax is a VAT election that allows businesses to treat supplies of most non-residential land and buildings as taxable rather than VAT exempt. Once an option to tax is made, supplies in relation to that property are generally subject to VAT at the standard...
by admin | May 28, 2026 | Uncategorized
Self-assessment taxpayers are usually required to make payments on account to pay their Income Tax liabilities. These are paid in two instalments, the first on 31 January during the tax year and the second on 31 July following the end of the tax year. A final...
by admin | May 25, 2026 | Uncategorized
The Government has introduced a landmark new Bill aimed at tackling the growing problem of late payments to small businesses, with ministers describing the measures as the biggest crackdown in more than 25 years. Late payment remains one of the most significant...
by admin | May 25, 2026 | Uncategorized
The Government has announced a new package of measures designed to help households manage rising living costs during the summer months, as concerns continue over inflation, fuel prices and household spending pressures. The package, described as the “Great...
by admin | May 21, 2026 | Uncategorized
The freezing of tax thresholds can result in a phenomenon commonly referred to as 'fiscal drag'. This occurs when tax allowances and rate bands remain unchanged while wages and inflation increase. As earnings rise, more taxpayers are ‘dragged’ into...
