It is no secret that many governments have struggled to tackle the tax challenges that arise from an increasingly globalised and digital economy. However, following years of discussion, on 5 June 2021 G7 agreed to back an historic international agreement on a global tax reform, which will push for […]
Many of us buy clothing that, in reality, we only wear for work – and we are often asked if the cost of these clothes can be set against the tax bill. The short answer is no: HM Revenue & Customs is adamant that such expenditure has a purpose not […]
In the 2020/21 tax year, just ended on 5th April 2021, as an employee you may have received extra support from your employer to enable you to continue to work. HMRC introduced a number of concessions so that these necessary support measures are not taxable benefits for employees. They include, […]
On 20 May 2021 the Office of Tax Simplification published the second part of its review of Capital Gains Tax (CGT). Whilst most taxpayers encounter income tax, National Insurance Contributions (NICs) and VAT every day, the report is concerned that many taxpayers are strikingly unaware of their obligations to report […]
There are numerous accounts of tax officers trying to tax the provision of tea and coffee for employees, and whilst some of these amount to an urban myth, the tax rules about providing a bacon (or vegan alternative) sandwich for your employees as a trivial benefit are not straightforward. […]
Whether you’re environmentally conscious or just after something practical – the choice of electric car models has skyrocketed over the last year or so. More and more well-known brands have launched their own take on electric cars to try and complete with the market leader – Tesla. Not only is […]
As the 2021 Tax Return gears up, HM Revenue & Customs has confirmed that it will issue harsh penalties to tax payers who have incorrectly claimed SEISS, and subsequently not taken advantage of opportunities to voluntarily repay the excess amounts. The rules state that overpayments must be notified to HMRC […]
After the excitement of the Budget and the issue of the Finance Bill, 23rd March was billed as “Tax Day” with the government issuing a raft of consultations and policies. In the end, the day was – correctly – overshadowed by the anniversary of the first Covid-19 lockdown, but as […]
HMRC are now asking certain self-employed people to prove that they are still in business before they can claim the next SEISS grant. This is only for those who have indicated that their business ceased trading in the period from 6 April 2018 to 5 April 2020. A pause in […]
With a little glowing light at the end this long tunnel, we want to bring hope and open your eyes to tax advice options that until now you might not have considered for your business. More options than you realise. You’re probably feeling like you’ve exhausted all of the […]
