by Admin | 22 Jun, 2023 | Value Added Tax
A business that incurs expenditure on taxable and exempt business activities is partially exempt for VAT purposes. This means that the business is required to make an apportionment between the activities using a 'partial exemption method' in order to calculate...
by Admin | 22 Jun, 2023 | Capital Gains Tax
Gift Hold-Over Relief is a tax relief that results in a deferral of Capital Gains Tax (CGT). The relief can be claimed when assets are given away (including certain shares) or sold for less than they are worth to help benefit the buyer. The relief means that any gain...
by Admin | 22 Jun, 2023 | HMRC notices
The Money Laundering Regulations (MLR) are designed to protect the UK financial system and put in place certain controls to prevent businesses being used for money laundering by criminals and terrorists. HMRC has named 240 supervised businesses that have been fined a...
by Admin | 22 Jun, 2023 | Income Tax
HMRC’s Self-Assessment helpline closed on 12 June 2023 and will re-open on 4 September 2023. This closure is part of a trial to direct Self-Assessment queries from the helpline to HMRC’s digital services, including online guidance, digital assistant...
by Admin | 22 Jun, 2023 | National Insurance
In certain circumstances it can be beneficial to make voluntary National Insurance Contributions (NICs) to increase your entitlement to benefits, including the State or New State Pension. Usually, HMRC allow you to pay voluntary contributions for the past 6 tax...
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