Tax News

Avoid these costly VAT mistakes


Small business owners need to take measures to avoid costly mistakes when it comes to calculating, reporting and paying Value ...

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MTD for ITSA is delayed. Should you still go ahead with cloud accounting?


Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA) will now come into effect in April 2026 for businesses, self-employed individuals, and ...

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How can you achieve taxation ‘quick wins’ before the end of the tax year


With the end of the tax year fast approaching on 5 April, it makes sense to assess your tax situation ...

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Taxation planning should be an ongoing process, not just pre-Budget


With the Spring Budget looming in March, it is easy to be tempted to delay tax planning until afterwards in ...

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A new VAT penalty system is now in effect


A major overhaul of VAT penalties came into effect on 1 January 2023. This new approach changes how penalties are ...

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Tax considerations for gifting to grandchildren in the UK


For many individuals in the UK, gifting to grandchildren can be a great way to reduce their tax burden. But ...

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Take advantage of the super deduction allowance – before it’s gone


Businesses are being advised that time is running out to be able to take advantage of the Corporation Tax super-deduction ...

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Implementation of MTD for ITSA delayed for two years


The Government has announced a two-year delay and further changes to the rollout of its Making Tax Digital for Income ...

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Income tax thresholds freeze – What it means for you


You could see your Income Tax bill increase significantly in 2022-23 because of a freeze on Income Tax thresholds announced ...

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