Is Your Company Carrying Out Research and Development?

Many companies are still missing out on valuable tax breaks for expenditure on research and development (R&D). Revenue and Customs (HMRC) have recently updated their guidance on claiming R&D tax credit relief and have reminded companies that it is possible to...

Thinking of Winding up your Company?

Up until 6 April last year, the distribution of cash to shareholders on the winding up of a trading company by a liquidator, was usually taxed as a capital gain, potentially taxed at just 10% with the benefit of entrepreneurs’ relief. However, last year’s Finance Act...

Reported Expenses and Benefits Provided to Employees

HMRC have recently updated their toolkit dealing with the reporting of expenses and benefits provided to employees and directors in the light of significant recent changes in this area. HMRC toolkits are designed to help minimise the risk of errors in returns and...

One Business or Two for VAT?

A recent VAT Tribunal had to decide whether two hairdressing businesses should be treated as a single business for the purposes of VAT registration. The distinction was critical as the two separate businesses were operating below the registration limit (currently...

Your guide to surviving a tax investigation

No matter how careful you are with your tax affairs, there’s no escaping the possibility of a tax investigation. You could be the world’s most responsible person when filing your self-assessment, but the fact that HMRC randomly selects individuals to investigate is...