Child benefit is not taxable but sometimes needs to be declared on tax returns. Since 2013 the high income child benefit charge (HICBC) claws back some or all of the child benefit paid to families where the highest earner in the family has total income of £50,000 or more. It is not necessarily the person…
HMRC regularly warn taxpayers to be alert to fraudsters purporting to be from HMRC. It was recently published that in the last year they deactivated more than 20,000 fake HMRC websites, an increase of 29% on the previous year.
Read this blog post to find out more information on the self-employed income support scheme (SEISS).
The government has introduced a temporary exemption in regards to the purchase of office equipment.
Read this blog post to find out about income tax deferrals introduced to help businesses from the ongoing coronavirus pandemic.
Company cars have been less popular over the years due to often creating a larger personal tax bill on employees than they save on the company’s corporation tax bill.
The current tax year, 2019/20 is coming to an end on 5th April 2020. You’d be forgiven for being distracted during the current pandemic but it is important to ensure sight is not lost on important tax reliefs which can’t be carried forward.
Businesses can reclaim VAT on costs incurred for their business provided they will be used in making VATable supplies (i.e. sales that include VAT).
