Company Unique Taxpayer References
The Company Unique Taxpayer References (UTR) is the primary identifier for the company and should be used whenever HMRC is contacted and when tax returns are filed. When a new limited company is
Business Advice
Keep up-to-date with accountancy news
Tax and lease premiums
Where a freeholder (or landlord) of a property grants a new lease to a new tenant there are sometimes upfront payments due, usually known as a lease premium. The payments of these premiums are
What is overlap relief?
The assessment of self-employed or partnerships profits is usually relatively straight-forward if the accounting date - the date to which accounts are prepared - falls between 31 March and 5 April.
Reminder of “bed and breakfasting” rules
Historically, the term bed and breakfasting (sale and repurchase) of shares referred to transactions whereby someone sold shares one day and bought them back the next morning. This used to have
Claim for money owed to you
If you are owed money by an individual or business, there is a procedure you can use called making a court claim. This was more commonly referred to as taking someone to a 'small claims
Seed Enterprise Investment Scheme
The SEIS provides for extensive Income Tax and Capital Gains Tax (CGT) breaks for investors and this greatly encourages much needed seed capital in new businesses. The SEIS is most valuable for
Companies eligible for Group Relief
Corporation Tax relief may be available when a company or organisation makes a trading loss. Companies that are eligible for Group Relief can transfer losses and certain other deficits to companies
Pre-trading expenses for a rental business
There are special rules for the pre-trading expenses of a rental business. If the expenses were in relation to a letting, then a deduction may be allowed where the following conditions are met: The
Reasonable excuses for late payment or filing
There are a number of options open to taxpayers who disagree with a tax decision issued by HMRC. As a first step, it may be possible to make an appeal against a tax decision. There is normally a
Less is more – MTD regulations relaxed
Starting from April 2019, most VAT-registered businesses that have a taxable turnover over £85,000 are required to keep their VAT records digitally and use Making Tax Digital (MTD) compatible