by admin | Sep 25, 2025 | Uncategorized
Not all casual payments are tax-free; HMRC’s miscellaneous income rules may apply depending on the circumstances. The special miscellaneous income rules sweep-up provisions that seek to charge tax on certain income. This unusual provision, which is...
by admin | Sep 25, 2025 | Uncategorized
Businesses over £90,000 turnover must register for VAT, but HMRC may grant exceptions if the increase is temporary. A business must register for VAT if either of the following applies: At the end of any month, its taxable turnover in the previous 12 months has...
by admin | Sep 25, 2025 | Uncategorized
Paper tax returns are due 31 October 2025, and new registrants must notify HMRC by 5 October 2025. Act early to avoid penalties. Firstly, the deadline for submitting paper self-assessment tax returns is 31 October 2025. If you miss this deadline a £100 late...
by admin | Sep 25, 2025 | Uncategorized
Homeowners can earn up to £7,500 tax-free under the rent-a-room scheme, with simple reporting and flexible tax options. This set of special rules is designed to encourage individuals to make use of spare space in their property by providing a tax exemption on...
by admin | Sep 25, 2025 | Uncategorized
When considering VAT on entertainment provided solely to directors or partners of a business it is generally not recoverable as VAT Input Tax. HMRC considers that directors and partners are not in need of entertainment to motivate themselves, so such...
