Employee tax codes 2019-20
The P9X form is used to notify employers of the tax codes to use for employees. The basic Personal Allowance for the tax year starting 6 April 2019 will be £12,500 and the tax code for emergency will
Business Advice
Keep up-to-date with accountancy news
Are you claiming the Marriage Allowance?
HMRC has published a press release to remind qualifying couples to claim the Marriage Allowance. The Marriage Allowance allows lower earning couples to share part of their personal tax-free allowance.
Last chance to get ready for VAT filing changes 1 April 2019
The deadline for the introduction of VAT filing changes is now just weeks away. For VAT returns periods starting on or after 1 April 2019, some 1 million businesses with a turnover above the VAT
Have you received income in the form of loans?
HMRC has issued a new briefing paper on disguised remuneration charge on loans. Disguised remuneration schemes are tax avoidance arrangements that seek to avoid Income Tax and National Insurance
Companies House – Late Filing Penalties
There are Late Filing Penalties which are designed to encourage companies to file their accounts and reports on time. The penalties were first introduced in 1992 and were significantly increased from
Utilising unused losses for CGT
Sometimes tax-payers may sell an asset at a loss. If acceptable as capital losses, they can be deducted from Capital Gains made in the same or future years. As a general rule, if the asset would have
Incentive award schemes and tax
Companies can use incentive award schemes to encourage their employees in various ways, for example, to sell more of their own goods and services. The award can take various forms including cash,
Post cessation receipts and expenses
According to HMRC’s published guidance there are special rules for the taxation of post-cessation receipts and expenses. These provisions apply to professions, vocations and trades. Tax relief may be
Correcting errors on VAT returns
Where an error on a VAT return is discovered, VAT registered businesses have a duty to correct the error as soon as possible. As a general rule, you can use a current VAT return to make an
Company tax deductions for charitable donations
There are special rules in place when a limited company gives to a charity. This can include Corporation Tax relief for qualifying donations made to registered charities or community amateur sports