There are special rules in place when a limited company gives to a charity. This can include Corporation Tax relief for certain donations made to registered charities or community amateur sports club (CASC) as well as capital allowances for giving
As a general rule there is no CGT payable on the disposal of a property which has been used as the main family residence. Conversely, an investment property which has never been used will not qualify for relief. This relief from CGT is commonly known
The self-employed are often concerned regarding expenses they can claim. In this article, we will briefly look at the rules for claiming expenses relating to office, property and equipment. You cannot claim for any non-business use of premises,
A recent investigation by the Insolvency Service has seen two married restaurant directors disqualified for a total of 5 years each. The Directors of Gambino Fish Ltd trading as Quality Fish, were the subject of an in-depth investigation by HMRC.
Following the written ministerial statement published in November 2017 announcing the proposed new rates for statutory maternity pay (SMP), statutory adoption pay (SAP), statutory paternity pay (SPP), statutory shared parental pay (ShPP) and
From 17 January 2018, individuals who need to obtain a basic disclosure check for a job in England and Wales should apply to the Disclosure and Barring Service (DBS), not to Disclosure Scotland. The DBS now provides the service for England and Wales.
One of the most time-consuming admin tasks associated with the running a small business can be dealing with the payroll.
Generally speaking, you can:
Run your own in-house payroll, or
Hire your accountant to do the work for you.
If you operate
The artificial separation of businesses (also known as disaggregation) happens when a business with two or more activities (for a public house this could be the sale of drinks and the sale of food) are split and each ‘separate’ entity continues to
The pre-owned assets (POA) income tax charge was introduced in the Finance Act 2004 and the first year in which a POA charge could arise was back in 2005-6. The POA charge is effectively a tax on individuals who have given certain types of assets
The transfer of a business as a going concern (TOGC) rules concern the possible VAT liability resulting from the sale of a business. Normally the sale of the assets of a VAT registered or VAT registerable business will be subject to VAT at the
The cash basis scheme helps sole traders and other unincorporated businesses benefit from a simpler way of managing their financial affairs. The scheme was extended to landlords from April this year with many expected to benefit from the savings in
Companies often have to contend with having two different company accounting periods. This is because there are different rules for Companies House filings and submissions to HMRC, for Corporation Tax purposes.
The accounting periods can be the
