Who can use the VAT retail schemes?

VAT retail schemes are a special set of schemes used by retail businesses to account for VAT. The schemes are ...
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Apportionment and duality

When deciding whether an expense is allowed or disallowed it is important to consider that the expenditure must be incurred ...
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Bed and breakfast – the same day rule

Historically, the term bed and breakfasting (sale and repurchase) of shares referred to transactions where shares were sold and then ...
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Changing a company accounting date

There are special rules which limit the ability to change your company’s year end date. A company’s year end date ...
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Private residence relief

There is usually no Capital Gains Tax (CGT) to be paid when you sell your main family residence (referred to ...
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Tax when you sell a business property

There are various methods at your disposal to reduce or delay the amount of Capital Gains Tax (CGT) when you ...
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Pre-trading expenditure

There are special tax reliefs for pre-trading expenses that are incurred before a business starts trading. These could include expenses ...
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Cash basis for landlords

The cash basis scheme helps sole traders and other unincorporated businesses benefit from a simpler way of managing their financial ...
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What is distance selling for VAT purposes?

Distance selling is the term used to describe supplies of delivered goods from one EU Member State to a customer ...
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Tax when you sell an asset

There are special rules that must be followed when you sell an asset on which capital allowances have been claimed ...
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The 7-year rule

Most gifts made during a person’s lifetime are not subject to Inheritance Tax at the time of the gift. These ...
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Temporary trade credit insurance scheme to end

Trade credit insurance is a contract bought by suppliers to make sure they get paid even if their customers default ...
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Encourage staff to get the COVID-19 vaccine

The government is calling on all employers to make a commitment to help employees get the COVID-19 vaccine, including during ...
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Tariff suspension on certain imports

The UK government has announced plans to introduce a new tariff suspension scheme. This new scheme will help UK firms ...
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Tax on sale of cryptoassets

Most individuals hold cryptoassets (such as Bitcoin) as a personal investment, usually for capital appreciation in its value or to ...
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Employment Status Tool

HMRC’s employment status service can be used to help ascertain if a worker should be classified as employed or self-employed ...
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Check if you can claim working from home expenses

If you are an employee who is working from home, you may be able to claim tax relief for some ...
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One month left to join VAT Deferral Payment Scheme

Businesses that deferred VAT payments last year have until 21 June 2021 to join the new online payment scheme. This ...
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How to claim tax relief on employment expenses

If you are an employee that needs to buy substantial equipment to use as part of your employment you may ...
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Tax Diary June/July 2021

1 June 2021 - Due date for Corporation Tax due for the year ended 31 August 2020. 19 June 2021 ...
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