In most cases, a supply of goods or services for VAT purposes is deemed to have taken place in return for consideration. This is usually payment in money but can also be of a “non-monetary” nature, such as goods or services supplied in
The Cycle to Work scheme was introduced over 20 years ago to help promote the use of environmentally friendly modes of transport.
The scheme allows employers to provide bicycles and cyclists’ safety equipment to employees as a tax-free benefit. The
There are two types of National Insurance contributions (NICs) payable by most self-employed people. These are known as Class 2 NICs and Class 4 NICs.
Class 2 NICs are paid by all self-employed taxpayers unless they earn under the Small Profits
A reduced rate of Inheritance Tax (IHT) of 36% (reduced from 40%) applies where 10% or more of a deceased’s net estate is left to charity. The lower rate applies where 10% or more of the ‘net value’ of the estate is left to charity.
The current IHT
There are a number of reasons why you might need to complete a Self-Assessment return for the first time. This includes if you are self-employed, have an annual income over £100,000 and / or have income from savings, investment or
Personal and small business current account holders were asked how likely they would be to recommend their provider to a friend, relative or other business. The survey also covered the quality of online and mobile provision, branch and overdraft
Recognising the need to maintain access to cash withdrawal facilities, the government is stepping in to set out a new access standard in the UK.
The vast majority of people and businesses are set to be no further than three miles away from
If you are an employee that needs to buy substantial equipment to use as part of your employment you may be able to claim tax relief. In most cases you can claim tax relief on the full cost of this type of equipment. Tax relief is reduced if your
The VAT treatment of motoring expenses is relevant to any business that incurs VAT on motor expenses.
We have covered below some important points to be aware of concerning the recovery of input tax (VAT) when leasing vehicles:
Leasing company
The Let Property Campaign provides landlords who have undeclared income from residential property lettings in the UK or abroad with an opportunity to regularise their affairs by disclosing any outstanding liabilities whether due to misunderstanding
There are special rules to help ensure that goods sent from abroad are taxed appropriately. The aim is to not disadvantage UK businesses supplying goods in the UK, for example, by having to compete with VAT free imports. This includes goods that are
A trust is an obligation that binds a trustee, an individual or a company, to deal with the assets – such as land, money and shares – held by the trust. The person who places assets into a trust is known as a settlor and the trust is for the benefit
You can usually claim tax relief for your private pension contributions. There is an annual allowance for tax relief on pensions of £60,000 for the current 2023-24 tax year. The annual allowance was £40,000 in 2022-23.
There is a three year carry
If there is a particular type of customer that is ideally placed to benefit from the goods or services you sell it makes sense to target any marketing activity in their direction, rather than adopting a scatter gun approach.
Take a good look at your
Landlords have a legal obligation to keep their rented property in good condition, and any gas or electrical systems must meet specified safety standards.
There are different rules for making repairs in Scotland and making repairs in Northern
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