Tax Tips

1 – Due date for payment of Corporation Tax for the year ended 31 December 2016 5 – If a Tax Return has not been received, individuals and trustees must notify HMRC of new sources of [...]

HM Revenue & Customs (HMRC) has changed the advisory fuel rates for company cars with effect from 1 September 2017, but for one month from the date of change, employers may use either the [...]

The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Pay) Regulations 2017 (SI 2017/692) took effect from 26 June 2017 and replace the previous 2007 Regulations [...]

Whether or not Class 2 National Insurance Contributions (NICs) can be paid depends on whether an individual falls within the definition of a ‘self-employed earner’ for NIC purposes, [...]

Employment status tax cases often make the headlines in the professional press and the June 2017 case of Tomlinson was no exception. In this case, the First-tier Tribunal found that a double [...]

In July, the Government confirmed that the Summer Finance Bill would be published in September, with the measures dropped from the pre-election Finance Bill being reintroduced in more or less the [...]

Q. I have two small businesses which are treated as a group for VAT purposes, so we only submit a single VAT return covering both entities. Are we eligible to use the Flat Rate Scheme? A. [...]

19/22 – PAYE/NIC, student loan and CIS deductions due for month to 5/9/2017 30 – Closing date to claim Small Business Rate Relief for 2016/17 in England

Some confusion has been reported over how businesses should calculate mileage expenses rates for electric and hybrid company cars. This confusion has arisen largely because HMRC’s advisory [...]

Many small, unincorporated businesses choose to use the ‘cash basis’ for working out taxable income. Under this method, participants will be taxed on the basis of the cash that passes [...]