The deadline to complete your 2023/24 tax return is 31 January 2025 (31 October 2024 if you need to file a paper return). There are many advantages to getting your tax return completed early: 1. [...]

Capital allowances are a way of obtaining tax relief on some types of capital expenditure. What is capital expenditure? Expenses you incur in your business can either be capital or revenue [...]

Tax free childcare is a HMRC scheme that offers working families in the UK support toward childcare costs. What is it? HMRC will top up every payment of 80p with an extra 20p up to the equivalent [...]

If you provide a company car to an employee there will be a benefit in kind charge. This includes directors of a limited company. What is a benefit in kind? Benefits in Kind (BIKs) are non-cash [...]

Are you just starting out in business? Have you been in business for a while and wonder whether you should incorporate into a Limited company? One of the important initial decisions to make is [...]

If you are married or in a civil partnership you might be entitled to a tax break of £1,149 called the Marriage Allowance. This allowance is not available if you simply live together. The [...]

For most businesses, when your turnover exceeds a certain level you must register for VAT and charge VAT on all your sales. Certain businesses are exempt and therefore do not need to register. If [...]

The High Income Child Benefit Charge (HICBC) was introduced in January 2013. It relates to the clawback of child benefit for those with income in excess of £50,000 per year. Who does it apply to? [...]

This is our second blog about rental income. Here we consider the new restrictions for tax relief on mortgage interest. Click here to see our first blog. Interest relief from 6 April 2017 In the [...]

From 1 April 2017 HMRC introduced changes to the flat VAT rate scheme. The flat rate scheme was introduced to reduce the administrative burden of small businesses. Under the scheme the business [...]