It’s July, normally the start of summer holidays, and generally a time to relax and enjoy the weather. However, if you file a tax return, there is a good chance you will have received a letter from HMRC requesting a tax payment – that’s always enough to spoil a delicious Read more…
The tax year end is around the corner, but it is not too late to consider some basic tax planning. Most tax allowances are confined to a single tax year. If you don’t use them, you lose them. And there are loads of tax allowances to think about. Your personal Read more…
With advent upon us, let me spread festive cheer by reminding you of the various tax traps you can fall into at a Christmas time. Christmas Parties Let’s start with Christmas parties. You can spend up to £150 per head at an annual party without incurring any employment taxes and Read more…
Several years ago, HMRC announced they had big plans bringing the tax system into the 21st Century with something they called Making Tax Digital (“MTD”). Admittedly, at the time, I was somewhat surprised. After all, I have not submitted much by paper to HMRC for years. VAT returns, payroll, self-assessment Read more…
Value Added Tax – otherwise known as “VAT” – is something most people have heard of. You might have seen it on a shop receipt without thinking much about what it is. But unless you work in the wonderful world of accountancy, the complexities of VAT will be a mystery Read more…