Cryptoassets and Capital Gains Tax: what you need to know

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Cryptoassets and Capital Gains Tax: what you need to know

Nov 12, 2021

Traders who have sold or exchanged cryptocurrency may be required to pay Capital Gains Tax (CGT), HM Revenue & Customs (HMRC) has warned. It comes after the tax authority wrote to holders of cryptoassets, such as Bitcoin, reminding them of their ...

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Blog, Tax

Controversial basis period reforms delayed by one year, Government announces

Nov 01, 2021

Controversial changes to the basis period rules will be pushed back to 2024, the Government has announced. Critics said the reforms would needlessly burden businesses in the wake of the coronavirus pandemic and ahead of the introduction of Making Tax Digital ...

Blog, HMRC, Tax

Are you a Self-Assessment taxpayer?

Oct 26, 2021

If you are, then keep reading... From today, you have less than a week to submit paper tax returns for the 2020/21 tax year before the deadline on Sunday 31 October. Those submitting online tax returns, you have 98 days! For the 31 ...

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Blog, Business Advice, HMRC, SMEs, Tax, VAT

MTD for Income Tax delayed until April 2024, HMRC confirms

Sep 27, 2021

Making Tax Digital (MTD) for Income Tax will be delayed until April 2024, the Government has confirmed. It means self-employed business owners and landlords will have one more year to prepare for the digitalisation of Self Assessment. According to HM Revenue & ...

Blog, Business accounting, Business Advice, Tax

What are year-end accounts and how can I prepare for them?

Sep 17, 2021

If you’re new to business, year-end accounts may seem like a daunting prospect. But with the right preparation, advice and approach, you will have nothing to worry about. In this blog, we’re going to look at what year-end accounts are when ...

Blog, Tax

Tax-related scams double during coronavirus pandemic, figures reveal

Aug 26, 2021

Tax-related scams have almost doubled in the past 12 months, HM Revenue & Customs (HMRC) has revealed. The tax authority said the coronavirus pandemic has created a perfect environment for criminals to operate in. According to the most recent figures available, HMRC ...

Blog, Tax

150,000 businesses owe HMRC £2.7 billion in deferred VAT payments

Jul 27, 2021

HM Revenue and Customs (HMRC) reported that 150,000 UK businesses have not yet made arrangements to pay back deferred VAT payments, and therefore owe the department £2.7 billion. As of 30 June 2021, nine per cent of the total VAT deferred ...

Blog, Tax

HMRC helpsheet to support residential property sellers with new CGT rules

Jul 23, 2021

New guidance will help homeowners understand the implications of capital gains tax (CGT) when selling UK residential property, it has been revealed. HM Revenue & Customs (HMRC) said the new helpsheet – which can be downloaded here - will support taxpayers ...

Blog, Tax

Electric car registrations surpassed 10 per cent mark in UK

Jul 06, 2021

According to new data, 10.7 per cent of car registrations in June were completely battery electric vehicles. In the same month, the Tesla Model 3 (a zero-emission car) was the largest seller in the UK, making it the first time electric ...

Blog, Tax

NI Protocol: UK and EU agree to extend chilled meats grace period until 30 September 2021

Jul 01, 2021

Businesses in Great Britain will be allowed to continue moving certain chilled meat products across the Northern Ireland border after an extension was today agreed upon by the UK and EU. The transportation of chilled meats – such as sausages, chicken ...

Tax