Further relaxation of self-assessment thresholds announced

The government has announced changes to the threshold at which some taxpayers need to complete a tax return. What’s the full story?

Mandatory payrolling of employee benefits delayed until 2027

The start date of mandatory payrolling of employee benefits has been delayed from April 2026 to April 2027. What do we know so far?

Multiple agents for MTD ITSA will be permitted

What’s a trivial benefit worth to employers?

The tax and NI exemption for trivial benefits is much misunderstood, but nonetheless very useful to employers. When can you use it, what are its advantages and are there any pitfalls to watch out for?

Should you agree to your customer’s self-billing request?

A customer wants to adopt a self-billing system, meaning they will issue invoices on your behalf and charge VAT or otherwise. Can you refuse their request and what are the risks of accepting?

Travel expenses - exempt or not?

You have several employees who travel from home or their workplace in the course of doing their job. Naturally, you meet the cost of their travel but should you be deducting tax and NI from the payments, or are they exempt?

MONTHLY FOCUS: CGT RELIEF FOR SHARE DISPOSALS

Business asset disposal relief is available where businesses are sold, but can also apply to the disposal of company shares and, in some circumstances, assets used by the company. What are the rules?

MONTHLY FOCUS: THE ENTERPRISE INVESTMENT SCHEME QUALIFYING CONDITIONS

The enterprise investment scheme (EIS) is a generous collection of tax reliefs aimed at encouraging private investment into relatively young companies. In this Focus, we look at the qualifying conditions relating to the investor and the issuing company that must be met in order for a claim for relief to succeed.

MONTHLY FOCUS: PROFIT EXTRACTION FOR 2024/25

The 2024/25 tax year has been a reprieve from the fiddly tinkering which has plagued profit extraction in recent years. There have been no in-year changes to NI rates or corporation tax rates etc. to deal with. As a result, you can focus on your remuneration strategy with more clarity. This is a welcome relief - especially as the 2024 Autumn Budget means 2025/26 will be a different story! This Monthly Focus will help you to form a profit extraction strategy that will keep more of your profit in your bank account and not HMRC’s. 

Income tax calculator

The introduction of special tax allowances, rates and rate bands which interact differently depending on your level and type of income has made the calculation of income tax liability far from straightforward. Our calculator can be used to work out your income tax liability, and can be used where you receive any combination of earnings, savings income, dividends and most other types of income. It will also calculate any adjustment required to finance costs relating to letting income.

VAT flat rate scheme tool

HMRC offers a simplified scheme for small businesses to work out and account for VAT. This can offer a financial and administrative advantage.

Company car capital contribution calculator

A company car is taxed according to its list price. This can be reduced if you make a capital contribution towards the purchase of the car. This calculator shows you how much tax could be saved.

Alternative ways to challenge HMRC

After several months of trying to get your point across to HMRC you’re getting nowhere. Might a formal review help resolve the issue and how do you go about applying for one?

Director's or employee's loan account record

Director’s loan account record A taxable benefit in kind may arise where a director is provided with a loan, either interest free or at a rate of interest below HMRC’s official rate (3% for 2016/17). Use this document to calculate what, if anything, you need to declare to HMRC. Make a note Where a cheap rate or interest-free loan is no more than

Dividend waiver

A dividend waiver is a document produced by a sharelder to show that they have given up (waived) their right to one or more dividends that they would otherwise be entitled to. A waiver can be used in income tax and inheritance tax planning but it must be made as a deed or HMRC will not accept its validity.

Business Tax

Everything from benchmark subsistence rates to VAT flat rate scheme percentages

Capital Taxes - CGT and IHT

ATED, CGT, IHT, HMRC interest rates, indexation allowance

Corporation Tax Rates

All the corporate tax rates, charitable giving, returns and enquiries

HMRC links

Direct access to HMRC's most relevant resources