November 11, 2019

What is an interest in possession trust?

From an Income Tax perspective, an interest in possession trust is one where the beneficiary of a trust has an immediate and automatic right to the […]
February 7, 2019

Getting ready for making tax digital

Accountant & Bookkeeper Guides Starting as soon as 2019, UK businesses will have to start transitioning to a digital tax system – where tax is filed […]
July 11, 2018

Inheritance Tax-Inheritance Tax reduced rate calculator

You may qualify to pay Inheritance Tax at a reduced rate of 36% if you leave at least 10% of your net estate to charity. Use this […]
July 11, 2018

Income Tax-Calculate tax on employees’ company cars

As an employer, if you provide company cars or fuel for your employees’ private use, you’ll need to work out the taxable value so you can […]
July 11, 2018

VAT-VAT Returns

Overview You usually submit a VAT Return to HM Revenue and Customs (HMRC) every 3 months. This period of time is known as your ‘accounting period.’ The VAT Return records […]
July 11, 2018

Self Assessment-Business records if you’re self-employed

Overview You must keep records of your business income and expenses for your tax return if you’re self-employed as a: sole trader partner in a business partnership You’ll also need […]
July 11, 2018

Capital Gains Tax for business

What you pay it on You may have to pay Capital Gains Tax if you make a profit (‘gain’) when you sell (or ‘dispose of’) all […]
July 11, 2018

Capital Gains Tax-Business Asset Rollover Relief

You may be able to delay paying Capital Gains Tax if you: sell (or ‘dispose of’) some business assets use all or part of the proceeds to buy […]