If VAT registered businesses do not sign up for MTD and file their VAT returns through MTD-compatible software, they may have to pay a penalty.
Tax (Corporate)
Rob provides an update on MTD for VAT and the upcoming MTD for Income Tax, including the changes and their impact on property landlords in particular.
Following parts of the Finance Bill 2022/23 being published today, James explains the radical changes to R&D Tax relief with effect from April 2023.
James explains salary sacrifice arrangements in exchange for additional pension contributions or an electric company car and why timing is important.
P11D forms for reporting expenses and benefits in kind provided to employees and directors in 2021/22 need to be submitted by 6 July 2022.
James explains the measures being explored by the government to increase transparency around R&D Tax Credit claims and who is making them.
James explains that all businesses need to innovate to remain competitive and many can claim R&D Tax Relief for what they do but don’t realise.
Providing benefits can often come with unexpected or unwelcome tax charges, so Rachel explains different options and their impact.
Rob reminds businesses in the hospitality sector that the reduced VAT rate is scheduled to revert to the normal 20% rate.
Rob explains why now could be a good time to think about selling your business and the different options available to you and your business.
Rob explains more about penalties for late submissions for Making Tax Digital with a reminder of the key dates for its roll out for VAT and income tax.
James explains the three key changes proposed at high level by HMRC following the recent Tax Administration & Maintenance Day.
James provides a summary of the latest annual claim statistics published by HMRC as well as explaining the topical issues affecting R&D Tax Relief.
How to plan your tax free staff Christmas gifts and office party, and how important gift aid is for charities.
On “Tax Day” on Monday we had a better insight into the upcoming changes to R&D Tax Relief. James provides a summary of the proposals and next steps.
James outlines the new plan for health and social care which has been announced by the Government today.
Rob provides details about the plans for MTD for Income Tax including what will need to be reported and when.
HMRC suggest organisations use the CEST tool on their website to check the worker’s status and will be bound by the result if used correctly.
James outlines how a company can carry back a loss to earlier years and obtain a repayment of tax previously paid.
Rob reminds us that pension contributions to approved pension funds continue to be a tax-free benefit provided the annual input limit is not breached.