What is a government gateway? Why do you need a government gateway account anyway? The gateway is a central location via which you can access various services including your tax account. How many of you have tried to contact HM Revenue & Customs (HMRC) recently over the phone only to get frustrated with the holding […]
Search Results for: government gateway
07
Aug
Aug
The Capital Gains Tax (CGT) tax free allowance has now fallen to £3,000 (2024/2025). The policy was announced in the former Chancellor Jeremy Hunt’s first Autumn Statement in 2022. This reduction in the tax free allowance will result in more individuals being subject to the CGT regime. Additionally, most landlords selling their properties are also […]
13
Mar
Mar
This time of the year as we approach the end of the tax year we look at all the steps you need to take to make sure you are taking advantage of the tax savings measures available to you. We will consider the different measures and help you plan for the tax year-end. Although overall, […]
11
Oct
Oct
For several years now, HM Revenue & Customs (HMRC) has been aware that scammers have been using them as the subject of their schemes. After all, something as serious as tax gets everyone’s attention. With the tax return season in full swing, the swindlers are going to be trying harder as more people will be […]
01
Mar
Mar
For some years now employers have been able to payroll benefits for their employees. The obvious question for you as an employer is should you payroll your employee benefits? What are the advantages and the draw backs of taking such a step? So, what are we talking about here? We are talking about employee […]
HM Revenue & Customs, VAT, VAT Compliance, VAT Return
Why do you need to know the difference between VAT Error and Adjustment?
10
Feb
Feb
The word “adjustment” means alteration in the English Language whilst “error” means a mistake. The difference between the two is important because when it comes to your VAT Returns how you deal with a VAT error is different to how you can deal with a VAT Adjustment. What qualifies as a VAT Adjustment? […]
capital gains tax, HM Revenue & Customs, Tax Planning, Tax Tips
What is a post transaction valuation?
12
Oct
Oct
What is a post transaction valuation? When you sell an asset, you will need to report this to HM Revenue & Customs (HMRC) and pay any Capital Gains Tax (CGT). But you may not have sold the asset in question at market value so what do you do? In that case, you need to […]
10
Aug
Aug
A Trust that is created by settlors often referred to as Expressed Trusts normally require registering with the Trust Registration Service (TRS). But do you have a non-taxable Trust that did not previously require to be registered? TRS which was introduced in 2017 was initially set up to register beneficial ownership of those Trusts which […]
01
Jun
Jun
How do you get a repayment from HMRC? When you have overpaid tax, you obviously want it repaid. But how do you get a repayment from HMRC? How will you know if you are entitled to a refund of tax? And once you know is it necessary to complete a Self-Assessment Tax Return? […]
18
May
May
From 1st January 2021 the way we complete the VAT Return in the UK changed. The most important change was how we account for VAT when it comes to Great Britain (GB) trading with the European Union (EU).
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