by Lisa Dickson | Dec 31, 2022 | HMRC and tax
How to use this guide 2022/23 has been the third of extraordinary tax years in the modern era. While 2020 and 2021 saw the heights of the pandemic, 2022 saw a surge in inflation mainly due to the continued supply chain issues after Covid, Russia’s war on Ukraine and...
by Lisa Dickson | Nov 22, 2022 | HMRC and tax
Reducing your tax bill when selling property. A combination of financial challenges, eviction bans and a perceived lack of support meant the rental market was hit hard by the COVID-19 pandemic. Now, landlords and tenants are feeling the effects of rising costs....
by Lisa Dickson | Nov 21, 2022 | HMRC and tax
Jeremy Hunt announced his second fiscal statement and first Budget since becoming Chancellor against a backdrop of fragile public finances, an ongoing cost of living crisis, and increased Government borrowing. In January, the Chancellor appealed to the nine million...
by Lisa Dickson | Nov 8, 2022 | HMRC and tax
The Government has u-turned on IR35 reforms. Late September into mid-October has been a turbulent time for the Government and a confusing time (at best) for taxpayers, after former chancellor Kwasi Kwarteng’s fiscal statement. On 17 October, the new chancellor, Jeremy...
by Lisa Dickson | Oct 29, 2022 | HMRC and tax
MTD non-compliance penalties also published. After much anticipation from accountancy bodies and businesses, HMRC has finally updated its guidance on Making Tax Digital (MTD), filling in several blanks. HMRC updated some of its informational pages on GOV.UK in late...
by Lisa Dickson | Sep 23, 2022 | HMRC and tax
Make use of these allowances while they last. When a business incurs costs, such as salary payments or stationary procurement, it can usually fully deduct them as expenses from its taxable profits, reducing the tax due. However, when it buys assets for operational...
