The subject of Director’s Loan Accounts (DLAs) has recently been in the news with concerns regarding the potential misuse of Bounce Back Loans. In theory, DLAs are relatively straightforward, but they can become quite complicated when you dig a little deeper.
There are strict deadlines, whether you are filing your company accounts, corporation, or personal tax return. While there are situations where you can apply for an extension, it is important to be aware of the deadlines and the potential penalties. Repeat offenders may see their options reduced in the future and increased penalty charges.
It is an understatement to suggest that ongoing changes to the IR35 system, including legal challenges, appeals and counter appeals, could be costly for those employing contractors. We are in a rather bizarre situation where the Check Employment Status for Tax (CEST) tool introduced by HMRC is constantly questioned by HMRC.
While Rishi Sunak, the Chancellor of the Exchequer, recently announced a one-year delay in the introduction of Making Tax Digital (MTD), the revolution has already begun.
While Bitcoin continues to grab the headlines, the cryptocurrency sector now takes in literally thousands of different digital assets...
The UK government recently announced plans to crackdown on tax avoidance, referred to as tax conditionality, in what is often described as the "hidden economy". In a straightforward yet highly effective move, various licence applications will now be considered with proof that the parties have completed a tax check with HMRC.
Individuals and companies that pay taxes in the UK could potentially find themselves under investigation by HMRC. If you do find yourself under investigation, there is no need to panic.…
The tax case involving Moyne Ramsay v HMRC broke new grounds concerning property investment, landlord activities and S162 incorporation relief. In simple terms, Elizabeth Moyne Ramsay and her husband were…
How often have you seen a seemingly solid company go under – not because it hadn’t a wealth of assets, nor because it was not making healthy profits, but merely…