Most individuals hold cryptoassets (such as Bitcoin) as a personal investment, usually for capital appreciation in its value or to make purchases.
HMRC is clear that these holdings will usually be subject to Capital Gains Tax (CGT) when:
The UK government has announced plans to introduce a new tariff suspension scheme. This new scheme will help UK firms become globally competitive.
This will be done by allowing companies to request that duties be partially or wholly reduced for a
The government is calling on all employers to make a commitment to help employees get the COVID-19 vaccine, including during working hours, to drive vaccine uptake across the UK. To support this, the government has produced a toolkit so that
1 June 2021 – Due date for Corporation Tax due for the year ended 31 August 2020.
19 June 2021 – PAYE and NIC deductions due for month ended 5 June 2021. (If you pay your tax electronically the due date is 22 June 2021)
19 June 2021 – Filing
Companies that are still claiming the Coronavirus Job Retention Scheme grants, now known as the furlough scheme, will have hard choices to make come the end of September when the present scheme ends.
Unless business activity picks up between now and
Limited companies are required to hold a wide range of company and accounting records. This includes details of directors, shareholders, company secretaries and the results of any shareholder votes and resolutions.
The company must also keep a
There are a number of requirements that must be taken care of when running a limited company. One of the lesser-known requirements concerns the use of signs, stationery and promotional material.
A company is required to display a sign showing the
When a VAT registered business issues an invoice to their customer, they must ensure that they charge the correct rate of VAT. Whilst most businesses in the UK charge VAT at the standard rate of 20% there are a number of different VAT rates and
BADR used to be known as Entrepreneurs’ Relief before 6 April 2020. The name change does not affect the operation of the relief. BADR applies to the sale of a business, shares in a trading company or an individual’s interest in a trading partnership.
The Scottish rate of Income Tax (SRIT) is payable on the non-savings and non-dividend income of those defined as Scottish taxpayers.
The definition of a Scottish taxpayer is based on whether the taxpayer has a ‘close connection’ with Scotland or
If you have reached the State Pension age and continue to work, in most cases you no longer need to pay employees National Insurance Contributions (NICs).
At State Pension age, the requirement to pay Class 1 and Class 2 NICs ceases. However, you
The next time you receive a request, by phone, text, or email, that requires you to take an action or verbally disclose information about yourself or your finances, alarm bells need to ring.
Criminals now use every means at their disposal to obtain
Travel options for going abroad are slowly starting to reopen. From 17 May 2021, international leisure travel from England will no longer be illegal but strict border control measures remain in place. There are 3 different levels of restrictions for
The Jobseeker’s Allowance (JSA) is a benefit for those usually aged over 18 who are either not working or who are currently working less than 16 hours per week. Applicants must be capable of working and actively looking for work. There are three
There are a number of ways a director can extract money from their limited company.
The money can usually be withdrawn in one or more of the following ways. For most directors, the optimum way to minimise personal tax liabilities will be using a
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