This guide will walk you through the critical points and help you prepare for the impending deadline with a strategy to mitigate penalties and safeguard against HMRC inquiries. (Read Time: Approx. 5 minutes) Topics Discussed: Deadline Dynamics and Penalties For the fiscal year 2022-23, the deadline for online tax return submissions is on 31st January… Read more »
In a recent sweep, HM Revenue and Customs (HMRC) set its sights on the burgeoning issue of electronic till fraud in the takeaway and restaurant industry. Over the past month, HMRC officers have made unannounced visits to 24 hot food takeaways and restaurants in the Scottish capital, as well as in London, St Helens, and… Read more »
(Read Time: Approx. 5 minutes) Welcome to this week’s Friday Tax Tip, with our final and festive tip of the year. Christmas can be one of the most expensive times of the year to all of those who celebrate. So, we’ve taken some essential tax tips to help you save money over the holiday period…. Read more »
Navigating the tax implications of property investments just got trickier. HMRC’s Spotlight 63 casts doubt on a popular tax-planning scheme for landlords, challenging its legality and effectiveness. This revelation raises crucial questions for buy-to-let (BTL) property owners entangled in the complex world of hybrid partnerships. (Read Time: Approx. 2 minutes) Topics Discussed: The Scheme’s Mechanics… Read more »
Bangers and Cash isn’t just about classic British cuisine, but rather delving into the intriguing realm of classic car sales within a company structure. Explore the financial and tax intricacies of selling high-value vehicles to a limited company, where strategic planning meets compliance. (Read Time: Approx. 3 minutes) Topics Discussed: What Happens When You Sell… Read more »
Today, we explore the ongoing situations surrounding two firms specialising in tax structuring for landlords: Property118 and Less Tax 4 Landlords We discuss the potential implications for their clients, and the community of landlords making use of any tax structuring firms. We offer our opinion to those affected by either of these companies or find… Read more »
In the complex world of property ownership, the distinction between legal and beneficial ownership is not only pivotal but often misunderstood. This understanding is especially crucial when it involves joint property, where nuances in ownership can significantly impact financial and legal outcomes. (Read Time: Approx. 4 minutes) Topics Discussed: Understanding Legal Ownership in Joint Property… Read more »
The much-anticipated Autumn Statement 2023 recently unveiled by the Chancellor of the Exchequer, Jeremy Hunt, brings significant changes impacting various sectors of the UK economy. From inflation forecasts to adjustments in taxes, benefits, and wages, the statement outlines crucial fiscal policies and projections for the coming years. We’re highlighting the most impactful financial changes, which… Read more »
Is your office in a festive mood? A festive get-together is a wonderful way to strengthen your staff’s bond and celebrate the completion of the year. Learn about effectively planning a Christmas Party, tax FREE. (Read Time: Approx. 3 minutes) Topics Discussed: Throwing the Perfect Tax FREE Party End-of-year staff parties are not just about… Read more »
Have you heard of this unknown and mostly unclaimed allowance? People over 66 can claim for this non-means tested allowance on a wide range of health issues. This applies regardless of your income or savings! This guide explores what Attendance Allowance is, how to claim, and who is eligible. (Read Time: Approx. 3 minutes) Topics… Read more »
