Most businesses have exposure to cyber risk Almost every modern business relies on computer networks for day-to-day operations, and this means that most firms are exposed to cyber risk. A cyber-attack is any attempt to steal data, damage or disrupt a computer system. In the event of a cyber-attack, it’s…
The Health and Safety Executive (HSE), via its Working Minds campaign, has declared April Stress Awareness Month. Work-related stress is an important consideration for businesses since all employers have a legal duty to prevent work-related stress to support good mental health in the workplace. Managing work-related stress doesn’t just help…
Are training costs tax deductible for the self-employed? HM Revenue & Customs has recently updated and clarified its guidance on training costs paid by the self-employed. The general rule for whether the cost of a training course can be deducted from your self-employed profits is that it must be incurred…
Welcome to our April Tax Update In this edition we take a look at the changes for the new tax year, child benefit claims, cash accounting, changes to the Basis of Assessment, Making Tax Digital, holiday lettings, capital allowances and R&D. HAPPY NEW TAX YEAR! In this April issue we…
What you need to know When there are several shareholders, a new company is being formed, a shareholder wants to pass their shares or pass them to their children, someone is nearing retirement, or the company has borrowed money from a shareholder, issues can easily arise that jeopardise the continued…
Understanding the pros and cons of the VAT Flat Rate Scheme for businesses Value Added Tax (VAT) is a significant consideration for businesses. It impacts your cash flow, the amount of admin work needed, and even your overall profitability. One option available to businesses – with a VAT exclusive turnover…
Exploring the tax implications of trading as a Sole Trader against registering as a Limited Company When starting a business, or indeed as an established business, choosing the most suitable legal structure for your business is an important thing to consider. Two popular options are operating as a sole trader…
In our ‘Insight’ on 16th February, we highlighted some advice from HMRC and the National Cyber Security Centre on Tax Scams and using online services. This week, we look into their warnings regarding tax refund scams and the use of QR Codes to phish for business information. HMRC warns about…
Some self-catering holiday let owners are being asked to provide trade information The Valuation Office Agency (VOA) is contacting the owners of some self-catering holiday lets. The lets in question are ones that are currently being assessed for business rates. The VOA are looking for additional information about the income…
With the rise in scams hot in the news recently, we take a look at guidance from HMRC and the National Cyber Security Centre on what to look out for to help protect yourself and your business from scammers. How to recognise tax scam phone calls, emails and text messages…