Do you pay tax on tips? A brief guide
Posted by Karen Jones on July 8, 2024“Do you pay tax on tips?” It may be a simple question, but the answer is surprisingly complex. In this article we take a closer look.
Charities and VAT: HMRC and definition of ‘business activity’
Posted by Karen Jones on June 28, 2024HMRC changed the way it defines ‘business activities’ sometime ago. This could have implications for organisations, charities and VAT liability.
MTD for ITSA update
Posted by Karen Jones on June 21, 2024MTD for ITSA will apply to sole trader businesses and individuals with income over £50,000 from April 2026.
HMRC enforcing Business Asset Disposal Relief limit
Posted by Karen Jones on June 17, 2024HMRC is telling people who have claimed more than the £1m Business Asset Disposal Relief lifetime limit to amend their tax returns.
IFS launches report on UK tax record
Posted by Karen Jones on June 13, 2024The Institute for Fiscal Studies released a report on the UK’s tax record since 2010. We look at the key points and what they mean.
What’s in the Finance Act 2024?
Posted by Karen Jones on June 10, 2024The Finance Act (No. 2) 2024 recently passed into law. We look at the measures that made it into the legislation – and some that didn’t.
Millions to become higher rate taxpayers – will you be one?
Posted by Karen Jones on April 22, 2024Millions of people are set to become higher rate taxpayers, thanks to a frozen personal allowance and wage increases. But can you avoid it?
The Rent a Room Scheme – a brief guide
Posted by Karen Jones on April 12, 2024Did you know that, if you rent furnished accommodation in your main home, you could earn £7,500 tax free under the Rent a Room scheme?
MTD ITSA – should you sign up early?
Posted by Karen Jones on April 11, 2024Although Making Tax Digital for Income Tax Self Assessment (MTD ITSA) won’t be mandatory for a while, you can sign up early. But should you?
Construction VAT Reverse Charge
Posted by Karen Jones on April 10, 2024Working as a contractor or subcontractor in the construction industry? Here’s what you need to know about the Construction VAT reverse charge.
