Splitting capital and revenue expenditure
When it comes to tax relief for expenditure, not all expenditure is equal. The relief, if any, that is available,…
Practical guidance from Makesworth’s chartered accountants to help you make informed financial decisions.
When it comes to tax relief for expenditure, not all expenditure is equal. The relief, if any, that is available,…
Property that is jointly-owned may be let out. As people are taxed individually, the income must be allocated in order…
Plastic packaging tax is a new tax that comes into effect from 1 April 2021. The tax has a green…
Under Making Tax Digital (MTD) for VAT, VAT-registered traders must keep electronic records and file their VAT returns electronically using…
To encourage employers to employ armed forces veterans, a new relief was introduced with effect from 6 April 2021 where…
For 2022/23 only, the rates of Class 1 (employer and employee) National Insurance contributions are increased by 1.25 percentage points,…
Employers who provided their employees with taxable expenses and benefits in 2021/22 need to report these to HMRC by 6…
Recent years have seen HMRC stepping up its efforts to reduce what is termed the ‘tax gap’ (defined as being…
Corporation tax is being reformed and companies with profits of more than £50,000 will pay corporation tax at a higher…
The Employment Allowance is a National Insurance allowance that eligible employers can claim and set against their secondary Class 1…
The Chancellor of the Exchequer, Rishi Sunak, delivered his Spring Statement on Wednesday 23 March 2022. In this early edition…
In a personal or family company the director will often borrow money from the company. This can be an easy…
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