How HMRC’s new online tools can help you simplify taxation
HM Revenue and Customs (HMRC) has always been at the forefront of embracing technological advancements to make tax-related processes more straightforward for businesses and individuals.
How to save £2,000 in taxes on your childcare costs
A Government scheme could help parents save up to £2,000 on their childcare costs through tax reliefs aimed at working parents.
What tax implications can come with depreciation?
For business owners, understanding depreciation is not just about accounting practices but also about handling their taxes efficiently.
Staying up to date with MTD for ITSA
In December 2022, the plans for Making Tax Digital for Income Tax Self-Assessment changed again, as the Government announced that instead, MTD ITSA would be introduced in mandatory phases from 6 April 2026, as opposed to 2024.
Capital Gains Tax for SMEs – Recent trends and compliance
Collections of Capital Gains Tax (CGT) reached a record £16.7 billion in the last tax year, a notable increase from the preceding year’s £14.3 billion.
How businesses can navigate and avoid tax disputes with HMRC
Tax disputes can be a significant drain on resources for any business, and with recent data suggesting that over 60 per cent of businesses are currently embroiled in a tax dispute with HM Revenue & Customs (HMRC) that has lasted
Beneficiaries could see inherited pensions taxed as new proposals by HMRC are published
Currently, if someone dies before the age of 75, their pension can be drawn out by beneficiaries’ tax-free, as it is exempt from Inheritance Tax and Income Tax if it is under the Lifetime Allowance (LTA).
What expenses can limited companies and sole traders claim?
Whether you’re the owner of a limited company or a sole trader, it is important to understand the expenses you can claim and the tax savings that these expenses bring.
Exit strategies – What should you consider for when the time comes?
Exiting a business is a significant milestone for any entrepreneur or business owner.
HMRC issues extension to deadline for voluntary National Insurance contributions
The Government has recently announced an extension to the deadline for individuals to pay voluntary National Insurance contributions (NICs), in a move that will benefit thousands of people across the country.
