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11-04-2024
Accessing the HMRC mobile APP

Accessing the HMRC mobile APP

HMRC’s free tax app is available to download from the App Store for iOS and from the Google Play Store for Android. The latest version of the app includes updated functionality. The app can be used to see: your tax code and National Insurance ... read more

11-04-2024
Using the starter PAYE checklist

Using the starter PAYE checklist

Employers that take on a new employee need to work out which tax code and starter declaration to use in their payroll software. Incorrect tax codes can lead to a new employee paying more tax than is due. Employers will require certain information ... read more

11-04-2024
HMRC continues to target till fraud

HMRC continues to target till fraud

HMRC has, for many years, looked to target businesses that deliberately undertake electronic sales suppression (ESS). ESS happens where a business deliberately manipulates its electronic sales records in order to hide or reduce the value of ... read more

11-04-2024
Termination payment clearance process

Termination payment clearance process

The tax treatment of termination payments has changed significantly over recent years. The changes have aligned the rules for tax and secondary National Insurance contributions (employer (NICs)) by making an employer liable to pay NICs on termination ... read more

11-04-2024
VAT retail schemes

VAT retail schemes

VAT retail schemes are a special set of schemes used by retail businesses to account for VAT. The schemes are used by businesses that sell a significant amount of low value and/or small quantity items to the public with different VAT ... read more

11-04-2024
Paying VAT on goods from EU to Northern Ireland

Paying VAT on goods from EU to Northern Ireland

There are special procedures for moving goods in and out of Northern Ireland. Under the Northern Ireland Protocol, all Northern Ireland businesses continue to have access to the whole UK market. There is specific guidance published by HMRC that ... read more

09-04-2024
New employment protections

New employment protections

New legislation, including three Government backed cross party Acts, came into force from 6 April 2024. Pregnant women and new parents will now receive special treatment in a redundancy situation, as a suite of new laws are introduced - delivering ... read more

09-04-2024
What do we mean by profit?

What do we mean by profit?

When most business owners refer to business profits, they are likely to mean the difference between sales and costs, and more concisely, that sales exceed costs. However, the word “profits” can prove to be a moveable feast as HMRC, banks ... read more

05-04-2024
To register or not to register

To register or not to register

In the recent Spring Budget, the VAT registration threshold was raised to £90,000 (previously £85,000) which means that smaller businesses that did not want to register for VAT, now have an additional £5,000 of turnover they can make each year ... read more

05-04-2024
Measures to support household budgets from 1 April

Measures to support household budgets from 1 April

In a recent press release the government confirmed the following policies to support household incomes from 1 April 2024. The National Living Wage has officially risen from £10.42 an hour to £11.44. This marks a £1,800 annual boost to full-time ... read more

04-04-2024
More about emergency tax codes

More about emergency tax codes

The letters in an employee’s tax code signify their entitlement (or not) to the annual tax free personal allowance. The tax codes are updated annually and help employer’s work out how much tax to deduct from an employee’s pay packet. The basic ... read more

04-04-2024
Claim tax relief on pension contributions

Claim tax relief on pension contributions

You can usually claim tax relief on private pension contributions worth up to 100% of your annual earnings, subject to the overriding limits. Tax relief is paid on pension contributions at the highest rate of income tax paid. This means that if you ... read more

04-04-2024
Claim tax relief if working from home

Claim tax relief if working from home

If you are an employee who is working from home, you may be able to claim tax relief for part of your household bills that are related to your work. If your expenses or allowances are not paid by your employer, you can claim tax relief directly from ... read more

04-04-2024
Restarting a dormant or non-trading company

Restarting a dormant or non-trading company

HMRC must be informed when a non-trading or dormant company starts trading and becomes active for Corporation Tax purposes. Companies can use HMRC Online Services to supply the relevant information. When a company has previously traded and then ... read more

04-04-2024
Online check how to import or export goods

Online check how to import or export goods

HMRC has a useful online tool to help UK business owners check how to import or export goods. This online tool can be used by businesses, the self-employed and agents acting on behalf of a business. Using the online tool you can obtain information ... read more

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