When it comes to claiming business-related costs, understanding which travel expenses HMRC allows can save you time, stress, and money. In this guide, we break down what counts, what doesn’t, and how to handle claims correctly. Understanding Travel Expenses Travel...
VAT in the UK is a crucial tax that affects businesses and consumers alike. It applies to most goods and services, making it essential for companies to understand their obligations. Furthermore, businesses must register for VAT if their taxable turnover...
What to do if you can’t pay your tax bill is a challenge many face, but there are solutions. Firstly, it’s important to stay calm and take action immediately. Ignoring the issue will only make matters worse. Additionally, remember that tax authorities...
Dormant accounts play a significant role in business compliance, especially for company directors. When a company is dormant, it’s essential to understand both the Companies House and HMRC perspectives. Although both consider dormancy differently, each...
The deadline for filing your taxes was 31st January 2023. And I’m sure you have filed them already. But now comes the time when you start worrying about having to pay the tax authorities what you owe. What if you can’t pay taxes right away? It’s not the best feeling...
How to prepare your tax return 21-22 may not get the pulse racing. For some it may cause anxiety, apoplexy and poking eyes with sticks may come to mind. However, if you are one of the 10.2 million + people that must complete a self-assessment tax return it’s a...
How to change from a sole trader into a company is this week’s podcast. What are the two most popular business structures in the UK and beyond? They are the sole trader or limited company. Likewise, a limited company in the United States and elsewhere is...
In this week’s episode of ‘l Hate Numbers’ I am looking at Personal tax returns. More specifically the personal tax returns you need to complete in the United Kingdom. Background Every year the tax office, shorthand HMRC want individual taxpayers to tell them what's...
The first Coronavirus furlough grant claim portal went live on Monday 20 April 2020. What does that mean for your business. Well, it means that if you have furloughed staff, you can claim that much needed grant money. We have submitted Furlough claims for all our...
Self Assessment Firstly, Self Assessment was introduced by the Inland Revenue (HMRC) in April 1996. Secondly, this tax system used to assess and collect Income and Capital Gains Tax. This vlog looks at How to prepare your tax return 21-22 Some important things to...