by Rachel | Apr 8, 2022 | Uncategorised
To encourage employers to employ armed forces veterans, a new relief was introduced with effect from 6 April 2021 where an employer took on an armed forces veteran in the first year of their first civilian employment since leaving the armed forces. Nature of the...
by Rachel | Mar 8, 2022 | Uncategorised
Corporation tax is being reformed and companies with profits of more than £50,000 will pay corporation tax at a higher rate than they do now. While the changes do not come into effect for a year, applying from the financial year 2023 which starts on 1 April 2023,...
by Rachel | Feb 10, 2022 | Uncategorised
Transactions between a director and his or her personal or family company are common and a director’s loan account is simply an account for recording the transactions that occur between the two. However, there are tax consequences for the company if the director owes...
by Rachel | Jan 21, 2022 | Uncategorised
All individuals are entitled to an annual exempt amount for capital gains tax purposes. Net gains (chargeable gains less allowable losses) for the tax year are free of capital gain tax to the extent that they are covered by the annual exempt amount. For 2021/22, the...
by Rachel | Dec 21, 2021 | Uncategorised
The self-assessment tax return for 2020/21 must be filed online by midnight on 31 January 2022 if a late filing penalty is to be avoided. The exception to this is where a notice to file a return for 2020/21 was issued after 31 October 2021, in which case the filing...
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