A business that incurs expenditure on taxable and exempt business activities is partially exempt for VAT purposes.
This means that the business is required to make an apportionment between the activities using a ‘partial exemption method’ in order
The Money Laundering Regulations (MLR) are designed to protect the UK financial system and put in place certain controls to prevent businesses being used for money laundering by criminals and terrorists.
HMRC has named 240 supervised businesses that
HMRC is currently writing to UK residents who were named in the leaked Pandora Papers and offering them the chance to regularise their tax affairs. The letters are being sent to UK residents named in the files of 14 offshore financial service
HMRC’s Self-Assessment helpline closed on 12 June 2023 and will re-open on 4 September 2023. This closure is part of a trial to direct Self-Assessment queries from the helpline to HMRC’s digital services, including online guidance, digital assistant
Gift Hold-Over Relief is a tax relief that results in a deferral of Capital Gains Tax (CGT). The relief can be claimed when assets are given away (including certain shares) or sold for less than they are worth to help benefit the buyer. The relief
From 14 June 2023, the latest set of changes mandated by the Charities Acts 2022 came into force.
Changes now in place include simplified legal requirements that charities must comply with before selling, transferring or leasing land, and new
A recent investigation by the House of Commons Committee of Public Accounts, in connection with the UK passport office, has found that hundreds of thousands of applicants faced unacceptable delays in receiving their passports.
Following the removal
The settlement legislation is intended to prevent an individual from gaining a tax advantage by diverting his or her income to another person who is liable at a lower rate of tax or is not liable to Income Tax.
Where a settlor has retained an
The Chancellor, Jeremy Hunt, has announced a new £650 million package of measures to help boost UK life sciences.
The new ‘Life Sci for Growth’ package brings together 10 different policies including £121 million to improve commercial clinical
The Gift Aid Small Donations Scheme (GASDS) allows qualifying charities and Community Amateur Sports Clubs (CASCs) to claim a top-up equivalent to Gift Aid on small donations of money made without a Gift Aid declaration. A small donation is defined
HMRC has a useful online tool to help agents and taxpayers know when they can expect to receive a reply from HMRC regarding a query or request that they have made. The online tool is updated weekly.
The online tool has recently been extended to
There is no requirement for employers to pay tax and National Insurance on certain health benefits covered by tax concessions or exemptions. For example, there is no requirement to report employees’ medical or dental treatment or insurance if they
The GOV.UK website offers the following guidance if you are considering a patent application.
A UK patent may help if you want to take legal action against someone who uses your invention without your permission. For example, if they sell or
There does seem to be a trend to replace human interactions with automated AI systems. This is especially evident in the management of our tax system.
There was a time, many years ago, when each taxpayer’s tax affairs would be managed by a local tax
If your personal details change you may be required to notify HMRC as this can affect your entitlement to certain tax breaks and or benefits.
For example, you need to tell HMRC if:
you get married or form a civil partnership; or
you divorce,
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