A computer on a desk in a city background displaying Making Tax Digital delays on the screen.

MTD for ITSA delay

Making Tax Digital for income tax self-assessment (MTD for ITSA) was originally set to roll out in 2018, but the road to personal tax digitalisation has been relatively rocky to date. While the Government successfully introduced MTD for VAT for returns starting on or after 1 April 2022, MTD for ITSA has been postponed five[…]

Full Expensing: A Game-Changer for UK Capital Investment, the end of the Super-deduction, and other Corporation Tax changes

In recent years, full expensing has emerged as a powerful incentive for businesses to maximise their investments and minimise their corporation tax liabilities. As the super-deduction policy expires in 2023, full expensing is set to become a vital tool for stimulating capital investment and economic growth in the UK. This article will explore the intricacies[…]

It is possible to reduce inheritance tax by using the business property relief

Business property relief Business property relief (BPR) is a way for UK businesses to reduce or eliminate inheritance tax on certain business assets. BPR was introduced in 1976 to help family-owned businesses continue trading after the owner’s death. They could do this without having to sell shares or the entire business to pay inheritance tax. […]

When Companies Pay Interest on a Loan from Individuals in the UK, Withholding Tax Deduction and CT61: An Overview for UK resident taxpayer

As a business owner or investor in the UK, it is important to understand the rules and processes involved in receiving interest from companies. In this article, we cover withholding tax, the CT61 form, and how to claim a tax credit for withheld tax. Get the information you need to comply with UK tax laws and ensure that you are accurately reporting your income.

Tax investigations by HMRC

HMRC recently announced new powers to carry out investigations on companies they suspect of evading taxes. As a business owner, you might be worrying about what happens if your company comes under scrutiny. Even if you’ve played entirely by the rules, the stress of an investigation can be a lot to deal with. Even more[…]

New law to resolve Covid rent debt

The Government has set up an arbitration system to help resolve outstanding commercial rent debt. This is following the general moratorium on commercial eviction ending. From 25 March, a legally binding arbitration process is available. This is in place for eligible landlords and tenants who have not yet reached an agreement. The Government hopes this[…]