Navigating estate planning and Inheritance Tax: what you need to know
HM Revenue & Customs (HMRC) recently announced that Inheritance Tax (IHT) receipts were up by £200 million between April to July 2023, making this a record high.
Self-Assessment benefits for small businesses
As a small business owner, you are probably familiar with the term ‘Self-Assessment’. While many entrepreneurs link Self-Assessment primarily with the yearly tax ritual, it offers a lot more.
VAT for small businesses – Registration, benefits and common pitfalls
VAT might initially seem like an intricate maze for small business owners in the UK.
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.
Understanding tax obligations for charities
Knowing your charity’s obligations to HM Revenue & Customs (HMRC) is important, as you will have different requirements to standard businesses.
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.
Top tips for being a successful business owner amid financial challenges
Running a successful business in the UK is a challenging yet rewarding endeavour.
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 more than a year, this is clearly a widespread issue.
Research and Development tax relief changes
The Government has recently updated some elements of the Research and Development (R&D) tax relief application process.