The House of Commons summer recess has been confirmed after parliament voted 223 to 25 in favour of the move. This means that the House will rise on Thursday 25 July and return on Tuesday 3 September. The timing of this five-week break whilst the
As the school holidays fast approach, many parents face having to organise extra school holiday childcare over the summer months. HMRC is reminding parents that the Tax-Free Childcare (TFC) scheme can help if you have children aged 0-11 years old.
Business rates are a tax on non-domestic premises, including most commercial properties such as shops, offices, pubs, warehouses and factories. The money raised through business rates is used to help fund local services like the police, fire and
HMRC imposes a VAT default surcharge on businesses that submit late VAT returns. VAT registered businesses are required by law to submit their return and make sure that payment of the VAT due has cleared to HMRC’s bank account by the due date.
1 July 2019 - Due date for Corporation Tax due for the year ended 30 September 2018. 6 July 2019 - Complete and submit forms P11D return of benefits and expenses and P11D(b) return of Class 1A NICs. 19 July 2019 - Pay Class 1A NICs (by the 22 July
An ISA is a tax exempt savings account available to UK residents. Whilst the amount invested in an ISA does not benefit from tax relief the income and gains are free from most taxes including Income Tax and Capital Gains Tax. Eligible holdings
There are a number of reasons why a taxpayer is required to complete a self assessment return. This includes if they are self-employed, a company director, have an annual income over £100,000 and / or have income from savings, investment or
Entrepreneurs' Relief (ER) can be a valuable relief when selling your business, your shares in a trading company or your interest in a trading partnership. Where ER is available Capital Gains Tax (CGT) of 10% is payable in place of the standard
Loans schemes also known as disguised remuneration tax avoidance schemes have been used by some employers and individuals in order to try and avoid paying Income Tax and National Insurance Contributions (NICs). This is usually done by utilising a
One of the Autumn Budget 2018 measures was the introduction of a new structures and buildings allowance (SBA). The SBA allows for tax relief on qualifying capital expenditure on new non-residential structures and buildings. The relief will therefore
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