https://www.feldonaccountancy.co.uk https://www.feldonaccountancy.co.uk/2026/02/budgeting-and-forecasting-in-a-period-of-lower-confidence Many business owners are entering the new year with a sense of caution. Confidence across the UK business community has softened, driven by continued cost pressures, uncertainty over tax policy and The post Budgeting and forecasting in a period of lower confidence appeared first on Feldon Accountancy. Mon, 09 Feb 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/02/budgeting-and-forecasting-in-a-period-of-lower-confidence thumbnail https://www.feldonaccountancy.co.uk/2026/02/business-rates-support-and-cash-flow-for-hospitality-businesses Hospitality businesses continue to operate in a challenging environment. Rising wage costs, energy prices and supply chain pressures have all placed strain on margins. Against this backdrop, recent The post Business rates support and cash flow for hospitality businesses appeared first on Feldon Accountancy. Mon, 09 Feb 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/02/business-rates-support-and-cash-flow-for-hospitality-businesses thumbnail https://www.feldonaccountancy.co.uk/2026/02/do-you-charge-vat-when-you-sell-a-company-car The question of whether or not you are required to charge VAT when selling a company car depends on how the vehicle was bought and whether VAT was recovered at the time. Understanding these The post Do you charge VAT when you sell a company car? appeared first on Feldon Accountancy. Thu, 05 Feb 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/02/do-you-charge-vat-when-you-sell-a-company-car thumbnail https://www.feldonaccountancy.co.uk/2026/02/eligibility-for-business-asset-disposal-relief Business Asset Disposal Relief (BADR) can significantly reduce the Capital Gains Tax due when selling a business or shares, but with higher rates coming from April 2026, timing and eligibility matter The post Eligibility for Business Asset Disposal Relief appeared first on Feldon Accountancy. Thu, 05 Feb 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/02/eligibility-for-business-asset-disposal-relief thumbnail https://www.feldonaccountancy.co.uk/2026/02/what-is-a-uk-property-business The income generated from land or property in the UK is treated as arising from a UK property business. The underlying legislation defines this broadly to include all activities that produce rental The post What is a UK property business appeared first on Feldon Accountancy. Thu, 05 Feb 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/02/what-is-a-uk-property-business thumbnail https://www.feldonaccountancy.co.uk/2026/02/what-is-a-salaried-member-of-an-llp The salaried member legislation applies to certain members of a Limited Liability Partnership (LLP) whose terms of membership are more like an employee than a partner. To be a salaried member, the The post What is a salaried member of an LLP appeared first on Feldon Accountancy. Thu, 05 Feb 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/02/what-is-a-salaried-member-of-an-llp thumbnail https://www.feldonaccountancy.co.uk/2026/02/car-and-travel-costs-if-self-employed If you are self-employed, it is important to understand which car and travel costs can be claimed. You can claim allowable business expenses for car, van, or travel costs, which reduce your taxable The post Car and travel costs if self employed appeared first on Feldon Accountancy. Thu, 05 Feb 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/02/car-and-travel-costs-if-self-employed thumbnail https://www.feldonaccountancy.co.uk/2026/02/new-employee-starter-checklist Setting up the correct tax code when a new employee starts is essential, as even small payroll errors can lead to unnecessary tax overpayments and avoidable complications later on. When hiring a new The post New employee starter checklist appeared first on Feldon Accountancy. Thu, 05 Feb 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/02/new-employee-starter-checklist thumbnail https://www.feldonaccountancy.co.uk/2026/02/payments-made-into-employee-benefit-trusts-constitute-taxable-income A Tribunal recently ruled that payments made for work into a third-party trust constitute immediate employment earnings. This decision effectively precludes employers from using loan-based structures The post Payments made into employee benefit trusts constitute taxable income appeared first on Feldon Accountancy. Wed, 04 Feb 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/02/payments-made-into-employee-benefit-trusts-constitute-taxable-income thumbnail https://www.feldonaccountancy.co.uk/2026/02/the-rise-of-the-silver-economy The term “silver economy” is used to describe the growing economic activity linked to an ageing population. In the UK and across much of the developed world, people are living longer, The post The rise of the silver economy appeared first on Feldon Accountancy. Mon, 02 Feb 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/02/the-rise-of-the-silver-economy thumbnail https://www.feldonaccountancy.co.uk/2026/02/turning-waste-disposal-into-an-income-stream For many businesses, waste disposal is seen purely as a cost, an unavoidable expense required to stay compliant and keep operations running smoothly. However, there is growing interest in the idea The post Turning waste disposal into an income stream appeared first on Feldon Accountancy. Mon, 02 Feb 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/02/turning-waste-disposal-into-an-income-stream thumbnail https://www.feldonaccountancy.co.uk/2026/01/check-your-national-insurance-record It is recommended to check your National Insurance record as this can affect your future entitlement to the State Pension and other benefits. By using the online service, you can see what National The post Check your National Insurance record appeared first on Feldon Accountancy. Thu, 29 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/check-your-national-insurance-record thumbnail https://www.feldonaccountancy.co.uk/2026/01/scottish-budget-statement-2026-27 Scotland’s Finance Secretary, Shona Robison delivered her third Budget statement to the Scottish parliament on 13 January 2026. This is the final Budget before the Holyrood elections due to take place The post Scottish Budget Statement 2026-27 appeared first on Feldon Accountancy. Thu, 29 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/scottish-budget-statement-2026-27 thumbnail https://www.feldonaccountancy.co.uk/2026/01/construction-industry-scheme-tackling-fraud Tackling fraud in the Construction Industry Scheme (CIS) was one of the measures addressed in the recent Budget. The changes are intended to allow faster intervention where fraud is suspected, while The post Construction Industry Scheme: tackling fraud appeared first on Feldon Accountancy. Thu, 29 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/construction-industry-scheme-tackling-fraud thumbnail https://www.feldonaccountancy.co.uk/2026/01/mtd-for-income-tax-check-if-and-when-you-need-to-use-it If you have not yet checked if and when you need to use Making Tax Digital (MTD) for Income Tax, you should do so as a matter of urgency. This is because from April 2026 the way many individuals The post MTD for Income Tax – check if and when you need to use it appeared first on Feldon Accountancy. Thu, 29 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/mtd-for-income-tax-check-if-and-when-you-need-to-use-it thumbnail https://www.feldonaccountancy.co.uk/2026/01/paye-rules-for-labour-supply-chains-umbrella-companies From 6 April 2026, significant changes to PAYE rules will affect umbrella companies, recruitment agencies, and end clients, increasing shared responsibility for payroll compliance across labour supply The post PAYE rules for labour supply chains (umbrella companies) appeared first on Feldon Accountancy. Thu, 29 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/paye-rules-for-labour-supply-chains-umbrella-companies thumbnail https://www.feldonaccountancy.co.uk/2026/01/welsh-budget-2026-27 The Welsh Final Budget for 2026-27 was published on 20 January 2026. The Budget sets out the Welsh government’s revenue and capital spending plans, including detailed portfolio spending plans. Mark The post Welsh Budget 2026-27 appeared first on Feldon Accountancy. Thu, 29 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/welsh-budget-2026-27 thumbnail https://www.feldonaccountancy.co.uk/2026/01/new-40-first-year-allowance-now-in-force The new 40% First Year Allowance came into force from 1 January 2026. This marks an important development for businesses investing in plant and machinery. The new allowance was first announced at The post New 40% First Year Allowance now in force appeared first on Feldon Accountancy. Thu, 29 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/new-40-first-year-allowance-now-in-force thumbnail https://www.feldonaccountancy.co.uk/2026/01/protecting-your-online-passwords With so many online accounts now in daily use, including banking, shopping, email and HMRC services, password security has never been more important. A weak or reused password can lead to fraud, The post Protecting your online passwords appeared first on Feldon Accountancy. Mon, 26 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/protecting-your-online-passwords thumbnail https://www.feldonaccountancy.co.uk/2026/01/do-you-need-a-company-audit-in-the-uk Not every UK limited company needs a statutory audit. Many smaller companies qualify for audit exemption, but it is important to understand the rules, as an audit may still be required in certain The post Do you need a company audit in the UK? appeared first on Feldon Accountancy. Mon, 26 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/do-you-need-a-company-audit-in-the-uk thumbnail https://www.feldonaccountancy.co.uk/2026/01/corporation-tax-19-or-25 If your company profits sit between £50,000 and £250,000, marginal relief can soften the jump from 19% to 25% Corporation Tax. The Corporation Tax main rate applies to companies with taxable profits The post Corporation Tax 19% or 25%? appeared first on Feldon Accountancy. Thu, 22 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/corporation-tax-19-or-25 thumbnail https://www.feldonaccountancy.co.uk/2026/01/struggling-to-meet-tax-payments-this-month With the balancing payment and first payment on account both due on 31 January 2026, it is worth checking your options early if funds are tight. The final balancing payment for the 2024-25 tax year The post Struggling to meet tax payments this month? appeared first on Feldon Accountancy. Thu, 22 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/struggling-to-meet-tax-payments-this-month thumbnail https://www.feldonaccountancy.co.uk/2026/01/take-care-when-labelling-a-bonus-as-discretionary-in-a-contract The High Court recently ruled on the interpretation and enforceability of "discretionary" bonus provisions in employment contracts. Mr. Gagliardi brought a breach of employment contract claim against The post Take care when labelling a bonus as discretionary in a contract appeared first on Feldon Accountancy. Thu, 22 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/take-care-when-labelling-a-bonus-as-discretionary-in-a-contract thumbnail https://www.feldonaccountancy.co.uk/2026/01/saving-tax-using-the-marriage-allowance If one partner earns under £12,570, you could transfer part of their unused personal allowance and cut your tax bill by up to £252 a year. The Marriage Allowance applies to married couples and civil The post Saving tax using the Marriage Allowance appeared first on Feldon Accountancy. Thu, 22 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/saving-tax-using-the-marriage-allowance thumbnail https://www.feldonaccountancy.co.uk/2026/01/selling-a-second-property CGT on certain UK residential property sales often has a strict 60-day reporting and payment deadline, so early planning can avoid penalties. If you are selling a second property, such as a The post Selling a second property? appeared first on Feldon Accountancy. Thu, 22 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/selling-a-second-property thumbnail https://www.feldonaccountancy.co.uk/2026/01/spring-statement-2026 The Chancellor, Rachel Reeves has confirmed that she will deliver the Spring Statement to the House of Commons on Tuesday, 3 March 2026. The Spring Statement is used to give an update on the state of The post Spring Statement 2026 appeared first on Feldon Accountancy. Thu, 22 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/spring-statement-2026 thumbnail https://www.feldonaccountancy.co.uk/2026/01/basis-period-reform-spreading-rules-for-payment If your business has transitional profits from basis period reform, spreading over five years may reduce the cash flow impact, but it is important to understand the deadlines. The self-employed basis The post Basis period reform – spreading rules for payment appeared first on Feldon Accountancy. Thu, 22 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/basis-period-reform-spreading-rules-for-payment thumbnail https://www.feldonaccountancy.co.uk/2026/01/annual-payroll-reporting-chores There are a number of annual payroll reporting issues that employers are required to complete. With the tax year ending on 5 April 2026, this means there are several key payroll reporting chores that The post Annual payroll reporting chores appeared first on Feldon Accountancy. Thu, 22 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/annual-payroll-reporting-chores thumbnail https://www.feldonaccountancy.co.uk/2026/01/what-factors-affect-a-persons-credit-rating A person’s credit rating (often referred to as a credit score) is a measure used by lenders to assess how reliably someone manages borrowing and financial commitments. It can affect whether credit is The post What factors affect a person’s credit rating? appeared first on Feldon Accountancy. Mon, 19 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/what-factors-affect-a-persons-credit-rating thumbnail https://www.feldonaccountancy.co.uk/2026/01/what-banks-look-at-when-a-small-business-applies-for-a-loan When a small business applies for a bank loan, the bank is mainly trying to answer one question, “How likely is it that we will be repaid, on time and in full?” To reach that decision, The post What banks look at when a small business applies for a loan appeared first on Feldon Accountancy. Mon, 19 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/what-banks-look-at-when-a-small-business-applies-for-a-loan thumbnail https://www.feldonaccountancy.co.uk/2026/01/tax-diary-february-march-2026 1 February 2026 - Due date for Corporation Tax payable for the year ended 30 April 2025.19 February 2026 - PAYE and NIC deductions due for month ended 5 February 2026. (If you pay your tax The post Tax Diary February/March 2026 appeared first on Feldon Accountancy. Fri, 16 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/tax-diary-february-march-2026 thumbnail https://www.feldonaccountancy.co.uk/2026/01/mtd-for-income-tax-whats-required-from-april-2026 From April 2026, Making Tax Digital for Income Tax (MTD for IT) will become mandatory for many self-employed persons and landlords, marking a significant change in how they manage their tax affairs. The post MTD for Income Tax – what’s required from April 2026 appeared first on Feldon Accountancy. Thu, 15 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/mtd-for-income-tax-whats-required-from-april-2026 thumbnail https://www.feldonaccountancy.co.uk/2026/01/what-is-the-advance-tax-certainty-service If your business is planning a major UK investment, HMRC’s new advance tax certainty service could give you binding clarity on the tax position before you commit. HMRC has recently published draft The post What is the advance tax certainty service? appeared first on Feldon Accountancy. Thu, 15 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/what-is-the-advance-tax-certainty-service thumbnail https://www.feldonaccountancy.co.uk/2026/01/creative-industry-corporation-tax-reliefs If your business works in film, TV, games or the arts, Creative Industry Tax Reliefs could reduce your Corporation Tax bill and may even generate a payable tax credit. Creative Industry Tax Reliefs The post Creative Industry Corporation Tax reliefs appeared first on Feldon Accountancy. Thu, 15 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/creative-industry-corporation-tax-reliefs thumbnail https://www.feldonaccountancy.co.uk/2026/01/expenses-for-the-self-employed If you are self-employed, knowing which everyday costs you can legitimately claim can make a real difference to how much tax you end up paying. The question of which costs you can claim against your The post Expenses for the self-employed appeared first on Feldon Accountancy. Thu, 15 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/expenses-for-the-self-employed thumbnail https://www.feldonaccountancy.co.uk/2026/01/pre-trading-expenditure-for-companies Starting a new business can be expensive, but many of your pre-trading costs may qualify for tax relief if they meet the right conditions. There are special tax reliefs for pre-trading expenses that The post Pre-trading expenditure for companies appeared first on Feldon Accountancy. Thu, 15 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/pre-trading-expenditure-for-companies thumbnail https://www.feldonaccountancy.co.uk/2026/01/company-information-in-the-public-domain Did you know you can monitor any UK company for free and get email alerts when key details change, which can help protect your own business from unexpected or unauthorised filings? A significant The post Company information in the public domain appeared first on Feldon Accountancy. Thu, 15 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/company-information-in-the-public-domain thumbnail https://www.feldonaccountancy.co.uk/2026/01/pre-tax-year-end-planning Pre-tax year end planning is one of the most practical and controllable ways for UK businesses and higher rate taxpayers to reduce unnecessary tax exposure. Unlike long term restructuring, it focuses The post Pre-tax year end planning appeared first on Feldon Accountancy. Mon, 12 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/pre-tax-year-end-planning thumbnail https://www.feldonaccountancy.co.uk/2026/01/company-liquidations-and-insolvencies-are-still-elevated The Insolvency Service data for England and Wales shows monthly company insolvencies remain high by historical standards, even though they move up and down month to month. For example, November 2025 The post Company liquidations and insolvencies are still elevated appeared first on Feldon Accountancy. Mon, 12 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/company-liquidations-and-insolvencies-are-still-elevated thumbnail https://www.feldonaccountancy.co.uk/2026/01/changes-to-agricultural-and-business-property-relief-reforms The government recently announced significant changes to the planned reforms to Agricultural Property Relief (APR) and Business Property Relief (BPR). The threshold for 100% relief will be increased The post Changes to Agricultural and Business Property Relief reforms appeared first on Feldon Accountancy. Thu, 08 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/changes-to-agricultural-and-business-property-relief-reforms thumbnail https://www.feldonaccountancy.co.uk/2026/01/did-you-file-your-tax-return-over-the-festive-period HMRC’s figures show thousands of taxpayers are filing over the festive period, but leaving your return until late January risks penalties, stress and avoidable payment problems. A new press release The post Did you file your tax return over the festive period? appeared first on Feldon Accountancy. Thu, 08 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/did-you-file-your-tax-return-over-the-festive-period thumbnail https://www.feldonaccountancy.co.uk/2026/01/company-car-expenses-and-benefits-whats-exempt While company cars often come with tax implications, there are specific situations where the associated benefits may be exempt. There are circumstances where it can be possible to offer employees car The post Company car expenses and benefits – what’s exempt? appeared first on Feldon Accountancy. Thu, 08 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/company-car-expenses-and-benefits-whats-exempt thumbnail https://www.feldonaccountancy.co.uk/2026/01/check-a-uk-vat-number-is-authentic Verifying a VAT number before reclaiming VAT can protect your business from rejected claims, repayments, and unnecessary penalties.The online service for checking a UK VAT number is available at The post Check a UK VAT number is authentic appeared first on Feldon Accountancy. Thu, 08 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/check-a-uk-vat-number-is-authentic thumbnail https://www.feldonaccountancy.co.uk/2026/01/starting-or-changing-jobs Providing the right information when you start a new job helps ensure your tax code is correct from the first pay day and avoids the risk of paying too much tax. When starting a new job or taking on The post Starting or changing jobs appeared first on Feldon Accountancy. Thu, 08 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/starting-or-changing-jobs thumbnail https://www.feldonaccountancy.co.uk/2026/01/the-scope-of-the-trivial-benefits-legislation The trivial benefits legislation provides a simple and practical tax exemption that allows employers to give small non-cash benefits to employees without triggering tax or National Insurance The post The scope of the trivial benefits legislation appeared first on Feldon Accountancy. Thu, 08 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/the-scope-of-the-trivial-benefits-legislation thumbnail https://www.feldonaccountancy.co.uk/2026/01/new-first-year-allowance-from-1-january-2026 The new 40% First Year Allowance (FYA) for qualifying main-rate plant and machinery expenditure first announced at Autumn Budget 2025 has now come into force. Effective from 1 January 2026, the new The post New First Year Allowance from 1 January 2026 appeared first on Feldon Accountancy. Thu, 08 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/new-first-year-allowance-from-1-january-2026 thumbnail https://www.feldonaccountancy.co.uk/2026/01/suing-whistleblowers-for-a-breach-of-confidence-is-not-a-viable-strategy The Court of Appeal has ruled that the initiation of legal or arbitral proceedings by an employer against a ‘whistleblower’ who has made a protected disclosure constitutes an actionable detriment The post Suing whistleblowers for a breach of confidence is not a viable strategy appeared first on Feldon Accountancy. Wed, 07 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/suing-whistleblowers-for-a-breach-of-confidence-is-not-a-viable-strategy thumbnail https://www.feldonaccountancy.co.uk/2026/01/saving-to-pay-tax For many individuals and business owners, paying tax is one of the largest regular financial commitments they face. Yet tax bills often arrive as a shock, not because the amounts are unexpected, but The post Saving to pay tax appeared first on Feldon Accountancy. Mon, 05 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/saving-to-pay-tax thumbnail https://www.feldonaccountancy.co.uk/2026/01/learning-from-mistakes-in-business Making mistakes in business is unavoidable. No matter how experienced or careful someone is, decisions are made with imperfect information, time pressure and changing conditions. What separates The post Learning from mistakes in business appeared first on Feldon Accountancy. Mon, 05 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/learning-from-mistakes-in-business thumbnail https://www.feldonaccountancy.co.uk/2026/01/payroll-annual-reporting-obligations As we move into the start of 2026, it is not that long until the current 2025-26 tax year comes to an end and there are a number of payroll annual reporting obligations that must be completed. This The post Payroll annual reporting obligations appeared first on Feldon Accountancy. Fri, 02 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/payroll-annual-reporting-obligations thumbnail https://www.feldonaccountancy.co.uk/2026/01/are-you-ready-for-making-tax-digital-for-income-tax Are you ready for Making Tax Digital for Income Tax (MTD for IT)? This new way of reporting will become mandatory in phases from April 2026. If you are self-employed or a landlord earning over The post Are you ready for Making Tax Digital for Income Tax? appeared first on Feldon Accountancy. Fri, 02 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/are-you-ready-for-making-tax-digital-for-income-tax thumbnail https://www.feldonaccountancy.co.uk/2026/01/vat-annual-accounting-filing-your-return For eligible businesses, the VAT Annual Accounting Scheme can reduce paperwork, smooth cash flow and replace quarterly returns with a single annual submission. The VAT Annual Accounting Scheme is The post VAT Annual Accounting – filing your return appeared first on Feldon Accountancy. Fri, 02 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/vat-annual-accounting-filing-your-return thumbnail https://www.feldonaccountancy.co.uk/2026/01/nominating-a-property-as-your-home Owning more than one home can create valuable Capital Gains Tax planning opportunities, but only if you understand how and when to nominate a property for Private Residence Relief. Typically, you do The post Nominating a property as your home appeared first on Feldon Accountancy. Fri, 02 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/nominating-a-property-as-your-home thumbnail https://www.feldonaccountancy.co.uk/2026/01/hmrcs-time-to-pay-service With the 31 January deadline approaching, thousands of taxpayers are using HMRC’s Time to Pay service to spread the cost of their self-assessment tax bill rather than facing immediate payment The post HMRC’s Time to Pay service appeared first on Feldon Accountancy. Fri, 02 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/hmrcs-time-to-pay-service thumbnail https://www.feldonaccountancy.co.uk/2026/01/avoiding-the-car-fuel-benefit-charge Employees with company cars may be paying unnecessary tax on private fuel, when reimbursing the cost of private fuel in full can often remove the car fuel benefit charge altogether. Where an employee The post Avoiding the car fuel benefit charge appeared first on Feldon Accountancy. Fri, 02 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/avoiding-the-car-fuel-benefit-charge thumbnail https://www.feldonaccountancy.co.uk/2026/01/bank-of-england-delivers-narrow-vote-rate-cut The Bank of England’s Monetary Policy Committee (MPC) last met on 18 December and, in a narrow 5-4 vote, decided to reduce the interest rate by 25 basis points, bringing it down to 3.75%. All four The post Bank of England delivers narrow vote rate cut appeared first on Feldon Accountancy. Fri, 02 Jan 2026 04:00:00 GMT https://www.feldonaccountancy.co.uk/2026/01/bank-of-england-delivers-narrow-vote-rate-cut thumbnail https://www.feldonaccountancy.co.uk/2025/12/construction-industry-scheme-changes As part of the Budget measures, the government confirmed plans to make some changes to the Construction Industry Scheme (CIS). From 6 April 2026, HMRC will be able to take immediate action where a The post Construction Industry Scheme changes appeared first on Feldon Accountancy. Thu, 18 Dec 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/12/construction-industry-scheme-changes thumbnail https://www.feldonaccountancy.co.uk/2025/12/taxable-company-benefits As an employee, you pay tax on certain company benefits, such as cars, accommodation, and loans. Your employer calculates the tax you owe and deducts it through Pay As You Earn (PAYE). The amount of The post Taxable company benefits appeared first on Feldon Accountancy. Thu, 18 Dec 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/12/taxable-company-benefits thumbnail https://www.feldonaccountancy.co.uk/2025/12/extension-of-fya-for-zero-emission-cars-and-charge-points An extension of First-Year Allowances (FYA) for zero-emission cars and charge points was announced as part of the recent Budget measures. This means that the 100% FYA for qualifying expenditure on The post Extension of FYA for zero-emission cars and charge points appeared first on Feldon Accountancy. Thu, 18 Dec 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/12/extension-of-fya-for-zero-emission-cars-and-charge-points thumbnail https://www.feldonaccountancy.co.uk/2025/12/selling-your-uk-home-and-living-abroad If you live abroad and sell your UK home, you may have to pay Capital Gains Tax (CGT) on any gain made since 5 April 2015. Only the portion of the gain made after 5 April 2015 is liable for tax. One The post Selling your UK home and living abroad appeared first on Feldon Accountancy. Thu, 18 Dec 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/12/selling-your-uk-home-and-living-abroad thumbnail https://www.feldonaccountancy.co.uk/2025/12/could-you-claim-the-small-pool-allowance Writing-down allowances (WDAs) are a type of capital allowance that let you deduct a percentage of an asset’s value from your taxable profits each year. In some cases, you may be able to claim more The post Could you claim the Small Pool Allowance? appeared first on Feldon Accountancy. Thu, 18 Dec 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/12/could-you-claim-the-small-pool-allowance thumbnail https://www.feldonaccountancy.co.uk/2025/12/student-jobs-paying-tax Students that work may need to pay Income Tax and National Insurance. Employers are required to calculate the amount of tax they need to pay on the basis that the students would be working for the The post Student jobs paying tax appeared first on Feldon Accountancy. Thu, 18 Dec 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/12/student-jobs-paying-tax thumbnail https://www.feldonaccountancy.co.uk/2025/12/employers-may-now-be-personally-liable-for-unfair-dismissal-claims A recent ruling has increased the scope of statutory protection for whistleblowers to include covered detriments against co-workers under the Employment Rights Act 1996. A Mr. Rice was dismissed by The post Employers may now be personally liable for unfair dismissal claims appeared first on Feldon Accountancy. Tue, 16 Dec 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/12/employers-may-now-be-personally-liable-for-unfair-dismissal-claims thumbnail https://www.feldonaccountancy.co.uk/2025/12/tax-diary-january-february-2026 1 January 2026 - Due date for Corporation Tax due for the year ended 31 March 202519 January 2026 - PAYE and NIC deductions due for month ended 5 January 2026. (If you pay your tax electronically the The post Tax Diary January/February 2026 appeared first on Feldon Accountancy. Mon, 15 Dec 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/12/tax-diary-january-february-2026 thumbnail https://www.feldonaccountancy.co.uk/2025/12/cash-flow-pressures Cash flow remains one of the most pressing concerns for small businesses, even where trading appears stable. Many businesses are finding that rising costs, cautious lenders and slower customer The post Cash flow pressures appeared first on Feldon Accountancy. Mon, 15 Dec 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/12/cash-flow-pressures thumbnail https://www.feldonaccountancy.co.uk/2025/12/funding-options-for-asset-acquisition Acquiring new assets is often essential for small businesses looking to grow, improve efficiency or remain competitive. Whether the investment is in vehicles, machinery, IT systems or specialist The post Funding options for asset acquisition appeared first on Feldon Accountancy. Mon, 15 Dec 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/12/funding-options-for-asset-acquisition thumbnail https://www.feldonaccountancy.co.uk/2025/12/iht-treatment-of-unused-pension-funds-and-death-benefits The 2027 reforms will shift more responsibility to personal representatives, who may need to manage withholding arrangements and settle any IHT before pension benefits are released. From 6 April The post IHT treatment of unused pension funds and death benefits appeared first on Feldon Accountancy. Thu, 11 Dec 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/12/iht-treatment-of-unused-pension-funds-and-death-benefits thumbnail https://www.feldonaccountancy.co.uk/2025/12/agricultural-and-business-property-relief-changes Agricultural and business property relief changes that were first announced at Autumn Budget 2024 will come into effect from 6 April 2026. These measures will introduce significant reforms to Business The post Agricultural and business property relief changes appeared first on Feldon Accountancy. Thu, 11 Dec 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/12/agricultural-and-business-property-relief-changes thumbnail https://www.feldonaccountancy.co.uk/2025/12/winter-fuel-payment-tax-charge The June 2025 reforms introduce a £35,000 income limit for keeping the Winter Fuel Payment, with HMRC recovering the payment from those above the threshold. The WFP is a tax-free payment provided by The post Winter Fuel Payment tax charge appeared first on Feldon Accountancy. Thu, 11 Dec 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/12/winter-fuel-payment-tax-charge thumbnail https://www.feldonaccountancy.co.uk/2025/12/expanding-workplace-benefits-relief From 6 April 2026, new tax rules will expand workplace benefits relief. The changes will simplify the treatment of certain low-value workplace benefits-in-kind (BIKs), affecting both employers and The post Expanding workplace benefits relief appeared first on Feldon Accountancy. Thu, 11 Dec 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/12/expanding-workplace-benefits-relief thumbnail https://www.feldonaccountancy.co.uk/2025/12/property-and-savings-income-subject-to-new-tax-rates The government announced at Budget 2025 that dividend income, property and savings income, will be subject to new tax rates. These changes will be legislated for through the Finance Bill 2025-26 and The post Property and savings income subject to new tax rates appeared first on Feldon Accountancy. Thu, 11 Dec 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/12/property-and-savings-income-subject-to-new-tax-rates thumbnail https://www.feldonaccountancy.co.uk/2025/12/vct-and-eis-changes The new rules will allow companies to raise more capital under the following schemes although investors will need to factor in reduced VCT Income Tax relief when assessing opportunities. The Venture The post VCT and EIS changes appeared first on Feldon Accountancy. Thu, 11 Dec 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/12/vct-and-eis-changes thumbnail https://www.feldonaccountancy.co.uk/2025/12/the-value-of-an-overhead-audit Many businesses regard their overheads as fixed, predictable, and largely outside their control. In reality, an overhead audit often uncovers costs that have risen quietly, services that are no longer The post The value of an overhead audit appeared first on Feldon Accountancy. Mon, 08 Dec 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/12/the-value-of-an-overhead-audit thumbnail https://www.feldonaccountancy.co.uk/2025/12/avoid-over-stocking Accountants often see the impact that excess stock has on a business long before the business owner realises what is happening. Over-stocking drains cash, fills storage space, increases waste, and The post Avoid over-stocking appeared first on Feldon Accountancy. Mon, 08 Dec 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/12/avoid-over-stocking thumbnail https://www.feldonaccountancy.co.uk/2025/12/work-out-your-vat-fuel-scale-charge VAT road fuel scale charges are fixed, standardised amounts that businesses must use to account for output VAT when they provide fuel for private use in a vehicle that is also used for business The post Work out your VAT fuel scale charge appeared first on Feldon Accountancy. Thu, 04 Dec 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/12/work-out-your-vat-fuel-scale-charge thumbnail https://www.feldonaccountancy.co.uk/2025/12/less-than-2-months-to-self-assessment-filing-deadline There are now less than 2 months to the self-assessment filing deadline for submissions of the 2024-25 tax returns. We urge our readers who have not yet completed and filed their 2024-25 tax return to The post Less than 2 months to self-assessment filing deadline appeared first on Feldon Accountancy. Thu, 04 Dec 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/12/less-than-2-months-to-self-assessment-filing-deadline thumbnail https://www.feldonaccountancy.co.uk/2025/12/who-pays-income-tax-in-scotland The rules that govern who pays Income Tax in Scotland is determined by whether an individual is considered a Scottish taxpayer. For most people, determining Scottish taxpayer status is The post Who pays Income Tax in Scotland appeared first on Feldon Accountancy. Thu, 04 Dec 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/12/who-pays-income-tax-in-scotland thumbnail https://www.feldonaccountancy.co.uk/2025/12/increase-in-savings-guarantee-for-bank-deposits The Financial Services Compensation Scheme (FSCS) has raised its savings guarantee for bank deposits, increasing the deposit protection limit from £85,000 to £120,000 per person. This change came into The post Increase in savings guarantee for bank deposits appeared first on Feldon Accountancy. Thu, 04 Dec 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/12/increase-in-savings-guarantee-for-bank-deposits thumbnail https://www.feldonaccountancy.co.uk/2025/12/update-from-hmrc-on-mtd-testing HMRC has published a new Making Tax Digital newsletter. This newsletter is mainly intended for taxpayers and agents who are currently testing the Making Tax Digital for Income Tax (MTD for IT) system. The post Update from HMRC on MTD testing appeared first on Feldon Accountancy. Thu, 04 Dec 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/12/update-from-hmrc-on-mtd-testing thumbnail https://www.feldonaccountancy.co.uk/2025/12/defer-paying-class-1-national-insurance-on-a-second-job Employees with a second job, third job or more may be able to defer or delay paying Class 1 National Insurance on their additional employment. This deferment can be requested when Class 1 National The post Defer paying Class 1 National Insurance on a second job appeared first on Feldon Accountancy. Thu, 04 Dec 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/12/defer-paying-class-1-national-insurance-on-a-second-job thumbnail https://www.feldonaccountancy.co.uk/2025/12/when-disciplinary-processes-and-non-compete-clauses-implode Many modern companies insist on the inclusion of restrictive covenants to limit the freedoms of employees upon the termination of their contracts. However, the High Court recently reinforced the The post When disciplinary processes and non-compete clauses implode appeared first on Feldon Accountancy. Tue, 02 Dec 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/12/when-disciplinary-processes-and-non-compete-clauses-implode thumbnail https://www.feldonaccountancy.co.uk/2025/12/the-likely-direction-of-interest-rates-in-2026 As we look ahead to 2026, there is growing speculation about how the Bank of England will manage interest rates during what many economists believe will be a period of calmer inflation, steadier wage The post The likely direction of interest rates in 2026 appeared first on Feldon Accountancy. Mon, 01 Dec 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/12/the-likely-direction-of-interest-rates-in-2026 thumbnail https://www.feldonaccountancy.co.uk/2025/12/outlook-for-food-and-energy-prices-in-the-year-ahead Food and energy costs remain central concerns for households and businesses because they influence everything from wages to margins to day to day operating decisions. Inflation is easing compared to The post Outlook For Food And Energy Prices In The Year Ahead appeared first on Feldon Accountancy. Mon, 01 Dec 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/12/outlook-for-food-and-energy-prices-in-the-year-ahead thumbnail https://www.feldonaccountancy.co.uk/2025/11/autumn-budget-2025-high-value-council-tax-surcharge Starting in 2028-29, the government will introduce a High Value Council Tax Surcharge (HVCTS) for residential properties in England valued at £2 million or more. This surcharge will be collected by The post Autumn Budget 2025 – High Value Council Tax Surcharge appeared first on Feldon Accountancy. Thu, 27 Nov 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/11/autumn-budget-2025-high-value-council-tax-surcharge thumbnail https://www.feldonaccountancy.co.uk/2025/11/autumn-budget-2025-alcohol-and-tobacco-duty The Chancellor has confirmed a series of duty increases on tobacco, vaping liquid, and alcohol that will take effect over the next year, with new rates intended to balance public health concerns with The post Autumn Budget 2025 – Alcohol and Tobacco Duty appeared first on Feldon Accountancy. Thu, 27 Nov 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/11/autumn-budget-2025-alcohol-and-tobacco-duty thumbnail https://www.feldonaccountancy.co.uk/2025/11/autumn-budget-2025-fuel-duty-rates In the Autumn Budget, the Chancellor had been expected to increase fuel duty rates. However, she has extended the fuel duty cut for a further 6 months to help support households and businesses. The The post Autumn Budget 2025 – Fuel Duty rates appeared first on Feldon Accountancy. Thu, 27 Nov 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/11/autumn-budget-2025-fuel-duty-rates thumbnail https://www.feldonaccountancy.co.uk/2025/11/autumn-budget-2025-minimum-wage-increases The Chancellor of the Exchequer, Rachel Reeves announced increases to the Minimum Wage rates on the eve of the Budget. The Chancellor confirmed that the government has accepted in full the proposals The post Autumn Budget 2025 – Minimum Wage increases appeared first on Feldon Accountancy. Thu, 27 Nov 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/11/autumn-budget-2025-minimum-wage-increases thumbnail https://www.feldonaccountancy.co.uk/2025/11/autumn-budget-2025-personal-tax-changes The chancellor Rachel Reeves announced as part of the Autumn Budget measures that the Income Tax thresholds will be maintained at their current levels for a further three years until April 2031. This The post Autumn Budget 2025 – Personal Tax changes appeared first on Feldon Accountancy. Thu, 27 Nov 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/11/autumn-budget-2025-personal-tax-changes thumbnail https://www.feldonaccountancy.co.uk/2025/11/autumn-budget-2025-pension-changes The Chancellor has kept the main pension allowances unchanged but has confirmed a new cap on salary sacrifice arrangements that will apply from April 2029. There had been heated speculation that the The post Autumn Budget 2025 – Pension changes appeared first on Feldon Accountancy. Thu, 27 Nov 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/11/autumn-budget-2025-pension-changes thumbnail https://www.feldonaccountancy.co.uk/2025/11/budget-summary-26-november-2025 The degree of speculation about this year’s Budget announcements was further compounded when the Office of Budgetary Responsibility uploaded their report on Budget changes prior to Rachel Reeves The post Budget Summary 26 November 2025 appeared first on Feldon Accountancy. Wed, 26 Nov 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/11/budget-summary-26-november-2025 thumbnail https://www.feldonaccountancy.co.uk/2025/11/the-link-between-planning-and-progress Most business owners know that progress matters, but many still hesitate when it comes to planning. It can feel like an extra task or something that only large companies need to worry about. Yet, in The post The link between planning and progress appeared first on Feldon Accountancy. Mon, 24 Nov 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/11/the-link-between-planning-and-progress thumbnail https://www.feldonaccountancy.co.uk/2025/11/how-a-business-grows-financially-by-retaining-profits Many business owners focus on sales as the main driver of growth. Sales matter, but they are only part of the story. Real financial growth happens when a business retains profits. Keeping a portion of The post How a business grows financially by retaining profits appeared first on Feldon Accountancy. Mon, 24 Nov 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/11/how-a-business-grows-financially-by-retaining-profits thumbnail https://www.feldonaccountancy.co.uk/2025/11/taxable-tax-free-state-benefits While there are many state benefits available, it is not always clear which of these are taxable and which are tax-free. HMRC’s guidance outlines the following list of the most common state benefits The post Taxable & tax-free state benefits appeared first on Feldon Accountancy. Thu, 20 Nov 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/11/taxable-tax-free-state-benefits thumbnail https://www.feldonaccountancy.co.uk/2025/11/what-is-a-demerger A demerger involves splitting the trading activities of a single company or group into two or more independent entities. This can be facilitated by distributing the assets of a holding company to its The post What is a demerger? appeared first on Feldon Accountancy. Thu, 20 Nov 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/11/what-is-a-demerger thumbnail https://www.feldonaccountancy.co.uk/2025/11/claim-flat-rate-expenses-for-work-clothing-and-tools If you use your own money to buy items for work, you may be eligible to claim tax relief as long as the items are essential for your job and are used solely for work purposes. Flat rate expenses The post Claim flat rate expenses for work clothing and tools appeared first on Feldon Accountancy. Thu, 20 Nov 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/11/claim-flat-rate-expenses-for-work-clothing-and-tools thumbnail https://www.feldonaccountancy.co.uk/2025/11/christmas-crafters-and-tax If you earn fees or sell goods as a side hustle, you may need to pay tax on your profits. HMRC has launched a new press release encouraging Christmas crafters and anyone with a fee earning hobby to The post Christmas crafters and tax appeared first on Feldon Accountancy. Thu, 20 Nov 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/11/christmas-crafters-and-tax thumbnail https://www.feldonaccountancy.co.uk/2025/11/mtd-qualifying-income Making Tax Digital for Income Tax (MTD for IT) will become mandatory in phases from April 2026. If you are self-employed or a landlord and have over £50,000 in qualifying income you need to start The post MTD – qualifying income appeared first on Feldon Accountancy. Thu, 20 Nov 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/11/mtd-qualifying-income thumbnail https://www.feldonaccountancy.co.uk/2025/11/national-insurance-credits-and-child-benefit Claiming Child Benefit can provide an important benefit by granting National Insurance credits. If you claim Child Benefit and your child is under 12, you will automatically receive National The post National Insurance credits and Child Benefit appeared first on Feldon Accountancy. Thu, 20 Nov 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/11/national-insurance-credits-and-child-benefit thumbnail https://www.feldonaccountancy.co.uk/2025/11/early-termination-of-probation-can-constitute-wrongful-dismissal The claimant began employment as a Contracts Coordinator on 23 January 2023, subject to a contractual 6-month probationary period, one which required 5 weeks' notice for termination. The contract The post Early termination of probation can constitute wrongful dismissal appeared first on Feldon Accountancy. Wed, 19 Nov 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/11/early-termination-of-probation-can-constitute-wrongful-dismissal thumbnail https://www.feldonaccountancy.co.uk/2025/11/increase-in-the-london-congestion-charge-from-january-2026 The daily charge for driving within the London Congestion Charge zone will rise from £15 to £18 from 2 January 2026. This is the first increase in several years and forms part of Transport for The post Increase in the London congestion charge from January 2026 appeared first on Feldon Accountancy. Mon, 17 Nov 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/11/increase-in-the-london-congestion-charge-from-january-2026 thumbnail https://www.feldonaccountancy.co.uk/2025/11/preparing-for-tighter-credit-conditions-in-2026 Many small businesses rely on a mix of overdrafts, card facilities and short term loans to maintain day to day cash flow. During the past year banks and alternative lenders have become more cautious, The post Preparing for tighter credit conditions in 2026 appeared first on Feldon Accountancy. Mon, 17 Nov 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/11/preparing-for-tighter-credit-conditions-in-2026 thumbnail https://www.feldonaccountancy.co.uk/2025/11/hmrc-contacting-sole-traders HMRC is currently contacting certain sole traders by email to reiterate the importance of adjusting business expenses for personal use.The email explains:why personal use must be adjusted on your The post HMRC contacting sole traders appeared first on Feldon Accountancy. Thu, 13 Nov 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/11/hmrc-contacting-sole-traders thumbnail https://www.feldonaccountancy.co.uk/2025/11/set-up-your-tax-app-with-hmrc The free HMRC tax app now provides quick access to tax codes, income history, self-assessment details, National Insurance records and even payment options, all from your phone. HMRC’s free tax app is The post Set up your tax app with HMRC appeared first on Feldon Accountancy. Thu, 13 Nov 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/11/set-up-your-tax-app-with-hmrc thumbnail https://www.feldonaccountancy.co.uk/2025/11/check-when-you-can-expect-a-reply-from-hmrc HMRC offers a helpful online tool that allows agents and taxpayers to check when they can expect a response to a query or request that they have made. The online tool is updated weekly with the latest The post Check when you can expect a reply from HMRC appeared first on Feldon Accountancy. Thu, 13 Nov 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/11/check-when-you-can-expect-a-reply-from-hmrc thumbnail https://www.feldonaccountancy.co.uk/2025/11/enforcement-of-the-minimum-wage The Department for Business & Trade has recently published a report that outlines the government's enforcement of the National Minimum Wage (NMW) and National Living Wage (NLW) for the 2024–25 The post Enforcement of the minimum wage appeared first on Feldon Accountancy. Thu, 13 Nov 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/11/enforcement-of-the-minimum-wage thumbnail https://www.feldonaccountancy.co.uk/2025/11/paying-tax-arrears-using-hmrc-payment-plans If you are unable to pay your tax bill, it's important to reach out to HMRC as soon as possible. HMRC may offer a Time to Pay arrangement, allowing you to settle the debt in manageable instalments The post Paying tax arrears using HMRC payment plans appeared first on Feldon Accountancy. Thu, 13 Nov 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/11/paying-tax-arrears-using-hmrc-payment-plans thumbnail https://www.feldonaccountancy.co.uk/2025/11/penalty-points-for-late-filing-of-vat-returns Many businesses are still unaware that the VAT late filing and late payment rules now operate on a points-based system, where repeated delays can quickly lead to a £200 penalty and added The post Penalty points for late filing of VAT returns appeared first on Feldon Accountancy. Thu, 13 Nov 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/11/penalty-points-for-late-filing-of-vat-returns thumbnail https://www.feldonaccountancy.co.uk/2025/11/how-many-businesses-are-there-in-the-uk Current estimates suggest that there are around 5.6 million businesses operating in the UK. This figure comes from the Department for Business and Trade and the Office for National Statistics. What The post How many businesses are there in the UK? appeared first on Feldon Accountancy. Mon, 10 Nov 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/11/how-many-businesses-are-there-in-the-uk thumbnail https://www.feldonaccountancy.co.uk/2025/11/directors-liability-for-company-debts A limited company is a separate legal entity. In normal circumstances, its debts belong to the company, not to the directors. This is one of the central advantages of incorporation. However, the The post Directors liability for company debts appeared first on Feldon Accountancy. Mon, 10 Nov 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/11/directors-liability-for-company-debts thumbnail https://www.feldonaccountancy.co.uk/2025/11/tax-diary-december-2025-january-2026 1 December 2025 - Due date for Corporation Tax payable for the year ended 28 February 2025. 19 December 2025 - PAYE and NIC deductions due for month ended 5 December 2025. (If you pay your tax The post Tax Diary December 2025/January 2026 appeared first on Feldon Accountancy. Fri, 07 Nov 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/11/tax-diary-december-2025-january-2026 thumbnail https://www.feldonaccountancy.co.uk/2025/11/pay-for-imports-declared-via-the-cds If your business imports goods into the UK, it is important to be familiar with the Customs Declaration Service and to ensure that any duty payments are made correctly and on time to avoid delays, The post Pay for imports declared via the CDS appeared first on Feldon Accountancy. Thu, 06 Nov 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/11/pay-for-imports-declared-via-the-cds thumbnail https://www.feldonaccountancy.co.uk/2025/11/p45s-p11ds-and-p60s-what-are-they Most employees will come across forms such as the P45, P11D and P60 during their working life, and knowing what each one is for can make it much easier to keep track of your tax position. A P45 is The post P45s, P11Ds and P60s – what are they? appeared first on Feldon Accountancy. Thu, 06 Nov 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/11/p45s-p11ds-and-p60s-what-are-they thumbnail https://www.feldonaccountancy.co.uk/2025/11/tell-hmrc-about-unpaid-tax-on-cryptoassets Where cryptoasset tokens (also known as cryptocurrency) are held personally, this investment is usually undertaken in the hope of making a capital appreciation in its value or to make particular The post Tell HMRC about unpaid tax on cryptoassets appeared first on Feldon Accountancy. Thu, 06 Nov 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/11/tell-hmrc-about-unpaid-tax-on-cryptoassets thumbnail https://www.feldonaccountancy.co.uk/2025/11/tax-and-trivial-benefits There is a trivial benefit-in-kind (BiK) exemption that applies to small, non-cash gifts (such as a bottle of wine or a bouquet of flowers) that are occasionally given to employees. This exemption The post Tax and trivial benefits appeared first on Feldon Accountancy. Thu, 06 Nov 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/11/tax-and-trivial-benefits thumbnail https://www.feldonaccountancy.co.uk/2025/11/updating-your-tax-code It is quite common for tax codes to be wrong, particularly if your income or employment situation has changed, so it is worth taking a few moments to check that HMRC has the correct information about The post Updating your tax code appeared first on Feldon Accountancy. Thu, 06 Nov 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/11/updating-your-tax-code thumbnail https://www.feldonaccountancy.co.uk/2025/11/company-voluntary-arrangements A Company Voluntary Arrangement (also known as a CVA) is a special arrangement that allows a company with debt problems or that is insolvent to reach a voluntary agreement to pay its business The post Company Voluntary Arrangements appeared first on Feldon Accountancy. Thu, 06 Nov 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/11/company-voluntary-arrangements thumbnail https://www.feldonaccountancy.co.uk/2025/11/tread-carefully-when-using-temporary-contracts-to-confer-tax-breaks A recent ruling has established that temporary worker arrangements do not constitute a single, continuous employment relationship in which workers retain the unfettered right to refuse assignments. The post Tread carefully when using temporary contracts to confer tax breaks appeared first on Feldon Accountancy. Wed, 05 Nov 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/11/tread-carefully-when-using-temporary-contracts-to-confer-tax-breaks thumbnail https://www.feldonaccountancy.co.uk/2025/11/understanding-the-responsibilities-of-company-directors Taking on the role of a company director is more than holding a title. Directors have legal duties that shape how a company is run, how decisions are made and how risks are managed. These The post Understanding the responsibilities of company directors appeared first on Feldon Accountancy. Mon, 03 Nov 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/11/understanding-the-responsibilities-of-company-directors thumbnail https://www.feldonaccountancy.co.uk/2025/11/reviewing-insurance-cover Many businesses arrange insurance in the early days and then only look at it again when something changes, or when a renewal comes around. The difficulty with this approach is that risks evolve over The post Reviewing insurance cover appeared first on Feldon Accountancy. Mon, 03 Nov 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/11/reviewing-insurance-cover thumbnail https://www.feldonaccountancy.co.uk/2025/10/paying-class-4-nics If you are self-employed and your profits are above £12,570, you may need to pay Class 4 National Insurance, so it is important to understand how the rates and rules apply to you. Self-employed The post Paying Class 4 NICs appeared first on Feldon Accountancy. Thu, 30 Oct 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/10/paying-class-4-nics thumbnail https://www.feldonaccountancy.co.uk/2025/10/business-asset-disposal-relief-the-present-rates If you are thinking about selling a business or shares, it is important to understand how Business Asset Disposal Relief works, particularly with rates set to increase from April 2026. Business Asset The post Business Asset Disposal Relief – the present rates appeared first on Feldon Accountancy. Thu, 30 Oct 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/10/business-asset-disposal-relief-the-present-rates thumbnail https://www.feldonaccountancy.co.uk/2025/10/advantages-of-vat-flat-rate-scheme If your business has relatively low VATable expenses, the VAT Flat Rate Scheme can simplify your VAT reporting and may also improve cash flow. The VAT Flat Rate Scheme is designed to simplify VAT The post Advantages of VAT Flat Rate Scheme appeared first on Feldon Accountancy. Thu, 30 Oct 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/10/advantages-of-vat-flat-rate-scheme thumbnail https://www.feldonaccountancy.co.uk/2025/10/taxable-benefits-for-use-of-company-car The tax you pay on the use of a company car depends largely on its CO2 emissions, so choosing a lower emission or electric vehicle can make a significant difference to your overall tax cost. The The post Taxable benefits for use of company car appeared first on Feldon Accountancy. Thu, 30 Oct 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/10/taxable-benefits-for-use-of-company-car thumbnail https://www.feldonaccountancy.co.uk/2025/10/beware-of-the-risks-of-engaging-employees-as-sham-contractors Recently, a clear legal precedent confirmed that the nature of an individual's work is determined by the reality of the actual employment relationship rather than by arbitrary titles. Mr. Gooch worked The post Beware of the risks of engaging employees as sham contractors appeared first on Feldon Accountancy. Thu, 30 Oct 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/10/beware-of-the-risks-of-engaging-employees-as-sham-contractors thumbnail https://www.feldonaccountancy.co.uk/2025/10/when-you-dont-need-to-make-payments-on-account If you file a Self-Assessment return you may need to pay your tax in three instalments, so it is useful to know when payments on account apply and when they can be reduced or removed. The first two The post When you don’t need to make payments on account appeared first on Feldon Accountancy. Thu, 30 Oct 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/10/when-you-dont-need-to-make-payments-on-account thumbnail https://www.feldonaccountancy.co.uk/2025/10/why-id-verification-is-supposedly-good-for-business Last week, we covered the new requirement for directors and persons with significant control (PSCs) to verify their identities from 18 November 2025. This process will be rolled out over 12 months, The post Why ID verification is supposedly good for business appeared first on Feldon Accountancy. Thu, 30 Oct 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/10/why-id-verification-is-supposedly-good-for-business thumbnail https://www.feldonaccountancy.co.uk/2025/10/valuing-and-pricing-goods-and-services For any business, knowing how to value and price what it sells is fundamental to success. Yet many small firms still rely on guesswork or simply copy competitors’ prices without understanding whether The post Valuing and pricing goods and services appeared first on Feldon Accountancy. Mon, 27 Oct 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/10/valuing-and-pricing-goods-and-services thumbnail https://www.feldonaccountancy.co.uk/2025/10/facing-change-with-confidence Change is part of every business journey. Whether it is prompted by new technology, regulation or shifts in the market, the ability to adapt determines how well a business performs in the long term. The post Facing change with confidence appeared first on Feldon Accountancy. Mon, 27 Oct 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/10/facing-change-with-confidence thumbnail https://www.feldonaccountancy.co.uk/2025/10/report-and-pay-capital-gains-tax If you sell assets such as shares or land, you may need to report your Capital Gains Tax either through Self-Assessment or HMRC’s ‘real time’ CGT service; deadlines and rates depend on the type of The post Report and pay Capital Gains Tax appeared first on Feldon Accountancy. Thu, 23 Oct 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/10/report-and-pay-capital-gains-tax thumbnail https://www.feldonaccountancy.co.uk/2025/10/claiming-lettings-relief If you have tenants in your home, it’s essential to understand the Capital Gains Tax (CGT) implications. Typically, there is no CGT on the sale of a property used as your main residence due to Private The post Claiming lettings relief appeared first on Feldon Accountancy. Thu, 23 Oct 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/10/claiming-lettings-relief thumbnail https://www.feldonaccountancy.co.uk/2025/10/reporting-foreign-income-to-hmrc If you are UK resident and receive income from abroad, such as overseas wages, rent, or investments, you may need to pay UK Income Tax and report it through Self-Assessment. Income Tax is generally The post Reporting foreign income to HMRC appeared first on Feldon Accountancy. Thu, 23 Oct 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/10/reporting-foreign-income-to-hmrc thumbnail https://www.feldonaccountancy.co.uk/2025/10/claiming-for-working-at-home Employees who are working at home may be entitled to claim tax relief on certain work-related expenses. Where such costs are not reimbursed by the employer, either by direct payment or an allowance, The post Claiming for working at home appeared first on Feldon Accountancy. Thu, 23 Oct 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/10/claiming-for-working-at-home thumbnail https://www.feldonaccountancy.co.uk/2025/10/reliefs-and-allowances-for-corporation-tax-purposes Companies can reduce their Corporation Tax bill through a range of reliefs, including R&D credits, Patent Box, and creative industry tax reliefs, all of which will help to lower the overall tax on The post Reliefs and allowances for Corporation Tax purposes appeared first on Feldon Accountancy. Thu, 23 Oct 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/10/reliefs-and-allowances-for-corporation-tax-purposes thumbnail https://www.feldonaccountancy.co.uk/2025/10/have-you-verified-your-id-at-companies-house From 18 November 2025, all company directors and people with significant control (PSCs) will be legally required to verify their identity at Companies House. This verification is being phased in over The post Have you verified your ID at Companies House? appeared first on Feldon Accountancy. Thu, 23 Oct 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/10/have-you-verified-your-id-at-companies-house thumbnail https://www.feldonaccountancy.co.uk/2025/10/dont-be-tempted-to-withhold-pay-as-a-form-of-leverage Ms Constantine had been a veterinary surgeon since 2017. Initially, she had worked every day with two half days rest, but this increased to four full days and a weekend every three weeks. Moreover, The post Don’t be tempted to withhold pay as a form of leverage appeared first on Feldon Accountancy. Wed, 22 Oct 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/10/dont-be-tempted-to-withhold-pay-as-a-form-of-leverage thumbnail https://www.feldonaccountancy.co.uk/2025/10/why-solvency-is-the-true-test-of-business-strength Every successful business, no matter how innovative or fast-growing, ultimately depends on one simple measure: solvency. A solvent business is one that owns more than it owes, with sufficient assets The post Why solvency is the true test of business strength appeared first on Feldon Accountancy. Mon, 20 Oct 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/10/why-solvency-is-the-true-test-of-business-strength thumbnail https://www.feldonaccountancy.co.uk/2025/10/uk-productivity-remains-disappointingly-weak The UK continues to struggle with low productivity growth, a long-running challenge that shows little sign of improvement. In the three months to June 2025, output per hour worked was around 1.5% The post UK productivity remains disappointingly weak appeared first on Feldon Accountancy. Mon, 20 Oct 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/10/uk-productivity-remains-disappointingly-weak thumbnail https://www.feldonaccountancy.co.uk/2025/10/cis-qualifying-for-gross-payment-status The Construction Industry Scheme (CIS) is a set of special rules for tax and National Insurance for those working in the construction industry. Businesses in the construction industry are known as The post CIS – qualifying for gross payment status appeared first on Feldon Accountancy. Fri, 17 Oct 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/10/cis-qualifying-for-gross-payment-status thumbnail https://www.feldonaccountancy.co.uk/2025/10/claiming-4-years-foreign-income-and-gains-relief The remittance basis of taxation for non-UK domiciled individuals (non-doms) was replaced with the new Foreign Income and Gains (FIG) regime from April 2025. This new regime is based on tax residence The post Claiming 4-years Foreign Income and Gains relief appeared first on Feldon Accountancy. Thu, 16 Oct 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/10/claiming-4-years-foreign-income-and-gains-relief thumbnail https://www.feldonaccountancy.co.uk/2025/10/business-asset-disposal-relief-changes Business Asset Disposal Relief (BADR) offers a significant tax benefit by reducing the rate of Capital Gains Tax (CGT) on the sale of a business, shares in a trading company or an individual’s The post Business Asset Disposal Relief changes appeared first on Feldon Accountancy. Thu, 16 Oct 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/10/business-asset-disposal-relief-changes thumbnail https://www.feldonaccountancy.co.uk/2025/10/vat-on-goods-you-export Exports from Great Britain or Northern Ireland can be zero-rated for VAT, provided businesses obtain valid export evidence within three months of sale and meet all HMRC documentation rules; accuracy The post VAT on goods you export appeared first on Feldon Accountancy. Thu, 16 Oct 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/10/vat-on-goods-you-export thumbnail https://www.feldonaccountancy.co.uk/2025/10/loss-of-personal-allowance-the-100k-ceiling For the current tax year, taxpayers with adjusted net income between £100,000 and £125,140 will face an effective marginal tax rate of 60%, as their £12,570 tax-free personal allowance is gradually The post Loss of personal allowance – the £100k ceiling appeared first on Feldon Accountancy. Thu, 16 Oct 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/10/loss-of-personal-allowance-the-100k-ceiling thumbnail https://www.feldonaccountancy.co.uk/2025/10/deduction-of-tax-on-yearly-interest The tax legislation requires the deduction of tax from yearly interest that arises in the UK. This typically refers to interest that is subject to Income Tax or Corporation Tax. The legislation The post Deduction of tax on yearly interest appeared first on Feldon Accountancy. Thu, 16 Oct 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/10/deduction-of-tax-on-yearly-interest thumbnail https://www.feldonaccountancy.co.uk/2025/10/winning-new-contracts-without-offering-punitive-credit-terms In today’s competitive market, many businesses feel pressured to extend generous payment terms to win new contracts. However, offering long or risky credit arrangements can strain cash flow and expose The post Winning new contracts without offering punitive credit terms appeared first on Feldon Accountancy. Mon, 13 Oct 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/10/winning-new-contracts-without-offering-punitive-credit-terms thumbnail https://www.feldonaccountancy.co.uk/2025/10/business-meetings-face-to-face-or-online The way we meet has changed dramatically in recent years. Technology now makes it possible to discuss projects, close deals and hold team meetings without ever leaving our desks. Yet for many, there The post Business meetings – Face to face or online? appeared first on Feldon Accountancy. Mon, 13 Oct 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/10/business-meetings-face-to-face-or-online thumbnail https://www.feldonaccountancy.co.uk/2025/10/benefits-of-the-vat-cash-accounting-scheme Waiting to be paid but still having to hand over VAT? The VAT Cash Accounting Scheme potentially lets you pay VAT only when your customer pays you, helping to ease cash flow pressures for small and The post Benefits of the VAT Cash Accounting Scheme appeared first on Feldon Accountancy. Thu, 09 Oct 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/10/benefits-of-the-vat-cash-accounting-scheme thumbnail https://www.feldonaccountancy.co.uk/2025/10/check-if-you-can-cash-in-a-child-trust-fund HMRC has issued a press release urging 18-23 year olds who have yet to claim their Child Trust Fund (CTF) cash to do so as soon as possible. According to HMRC, over 758,000 young adults in this age The post Check if you can cash in a Child Trust Fund appeared first on Feldon Accountancy. Thu, 09 Oct 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/10/check-if-you-can-cash-in-a-child-trust-fund thumbnail https://www.feldonaccountancy.co.uk/2025/10/understanding-the-tax-implications-of-divorce When a couple is separating or undergoing divorce proceedings, tax issues are often not the first thing on their minds. However, alongside the emotional challenges, it is important to understand the The post Understanding the tax implications of divorce appeared first on Feldon Accountancy. Thu, 09 Oct 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/10/understanding-the-tax-implications-of-divorce thumbnail https://www.feldonaccountancy.co.uk/2025/10/the-marriage-allowance-if-circumstances-change Married couples and civil partners could save up to £252 a year by transferring part of one partner’s unused personal allowance to the other, but you may need to cancel the claim if your income or The post The Marriage Allowance if circumstances change appeared first on Feldon Accountancy. Thu, 09 Oct 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/10/the-marriage-allowance-if-circumstances-change thumbnail https://www.feldonaccountancy.co.uk/2025/10/what-is-the-high-income-child-benefit-charge If your income exceeds £60,000 and you or your partner receive Child Benefit, you can now choose to pay the High Income Child Benefit Charge through your PAYE code instead of filing a Self-Assessment The post What is the High Income Child Benefit Charge? appeared first on Feldon Accountancy. Thu, 09 Oct 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/10/what-is-the-high-income-child-benefit-charge thumbnail https://www.feldonaccountancy.co.uk/2025/10/inheritance-tax-and-cgt-relief-for-national-heritage-assets Certain buildings, land, works of art, and other objects of national significance may be exempt from Inheritance Tax and Capital Gains Tax (CGT) when they are transferred to a new owner. This The post Inheritance Tax and CGT relief for national heritage assets appeared first on Feldon Accountancy. Thu, 09 Oct 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/10/inheritance-tax-and-cgt-relief-for-national-heritage-assets thumbnail https://www.feldonaccountancy.co.uk/2025/10/tax-diary-november-december-2025 1 November 2025 - Due date for Corporation Tax due for the year ended 31 January 2025. 19 November 2025 - PAYE and NIC deductions due for month ended 5 November 2024. (If you pay your tax The post Tax Diary November/December 2025 appeared first on Feldon Accountancy. Wed, 08 Oct 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/10/tax-diary-november-december-2025 thumbnail https://www.feldonaccountancy.co.uk/2025/10/risks-of-engaging-employees-as-sham-contractors Recently, a clear legal precedent confirmed that the nature of an individual's work is determined by the reality of the actual employment relationship rather than by arbitrary titles. Mr. Gooch worked The post Risks of engaging employees as sham contractors appeared first on Feldon Accountancy. Wed, 08 Oct 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/10/risks-of-engaging-employees-as-sham-contractors thumbnail https://www.feldonaccountancy.co.uk/2025/10/profitability-through-better-management-information Many business owners make decisions based on instinct, but intuition alone can be unreliable. Having timely, accurate management information replaces guesswork with insight and leads to stronger The post Profitability through better management information appeared first on Feldon Accountancy. Mon, 06 Oct 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/10/profitability-through-better-management-information thumbnail https://www.feldonaccountancy.co.uk/2025/10/building-financial-resilience-in-uncertain-times Every business faces unexpected challenges. Rising costs, supply delays, late payments and sudden changes in demand can all place pressure on cash flow. The businesses that cope best are usually those The post Building financial resilience in uncertain times appeared first on Feldon Accountancy. Mon, 06 Oct 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/10/building-financial-resilience-in-uncertain-times thumbnail https://www.feldonaccountancy.co.uk/2025/10/the-enterprise-investment-scheme-tax-benefits The Enterprise Investment Scheme (EIS) is designed to help smaller, higher-risk trading companies raise finance by offering a range of tax reliefs to investors who purchase new shares in those The post The Enterprise Investment Scheme tax benefits appeared first on Feldon Accountancy. Thu, 02 Oct 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/10/the-enterprise-investment-scheme-tax-benefits thumbnail https://www.feldonaccountancy.co.uk/2025/10/the-present-limits-for-business-assets-disposal-relief Business Asset Disposal Relief (BADR) still offers a valuable tax break, but the CGT rate has risen to 14% from April 2025 and will increase again to 18% in April 2026. BADR provides a valuable tax The post The present limits for Business Assets Disposal Relief appeared first on Feldon Accountancy. Thu, 02 Oct 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/10/the-present-limits-for-business-assets-disposal-relief thumbnail https://www.feldonaccountancy.co.uk/2025/10/register-an-offshore-property-developer-for-corporation-tax Non-UK resident companies that buy, develop, or sell UK land must register for Corporation Tax within three months of a disposal. Those non-UK resident companies that deal in or develop UK land must The post Register an offshore property developer for Corporation Tax appeared first on Feldon Accountancy. Thu, 02 Oct 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/10/register-an-offshore-property-developer-for-corporation-tax thumbnail https://www.feldonaccountancy.co.uk/2025/10/state-benefits-taxable-and-non-taxable Many people rely on state benefits, but it is not always obvious which payments are taxable and which are tax-free. HMRC’s guidance outlines the following list of the most common state benefits on The post State benefits taxable and non-taxable appeared first on Feldon Accountancy. Thu, 02 Oct 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/10/state-benefits-taxable-and-non-taxable thumbnail https://www.feldonaccountancy.co.uk/2025/10/heads-up-for-company-directors As of April 2025, directors of close companies and self-employed taxpayers face new mandatory reporting requirements on their Self-Assessment returns. Up to 900,000 company directors and 1.2 million The post Heads up for company directors appeared first on Feldon Accountancy. Thu, 02 Oct 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/10/heads-up-for-company-directors thumbnail https://www.feldonaccountancy.co.uk/2025/10/check-your-state-pension-forecast Your State Pension forecast shows how much you could receive, when you can claim it, and how to boost it by filling National Insurance gaps. The Check Your State Pension forecast service provides a The post Check your State Pension forecast appeared first on Feldon Accountancy. Thu, 02 Oct 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/10/check-your-state-pension-forecast thumbnail https://www.feldonaccountancy.co.uk/2025/09/bank-deposit-protection-limits-set-to-rise The UK’s financial regulator has proposed an increase to the level of savings protection available under the Financial Services Compensation Scheme (FSCS). If approved, the changes would take effect The post Bank deposit protection limits set to rise appeared first on Feldon Accountancy. Mon, 29 Sep 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/09/bank-deposit-protection-limits-set-to-rise thumbnail https://www.feldonaccountancy.co.uk/2025/09/five-goals-every-small-business-owner-should-set Running a small business can feel like juggling endless priorities, but taking time to set clear goals is essential if you want your business to grow and remain sustainable. Here are five goals that The post Five goals every small business owner should set appeared first on Feldon Accountancy. Mon, 29 Sep 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/09/five-goals-every-small-business-owner-should-set thumbnail https://www.feldonaccountancy.co.uk/2025/09/vat-entertainment-provided-to-directors-and-partners-of-a-business When considering VAT on entertainment provided solely to directors or partners of a business it is generally not recoverable as VAT Input Tax. HMRC considers that directors and partners are not in The post VAT – Entertainment provided to directors and partners of a business appeared first on Feldon Accountancy. Thu, 25 Sep 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/09/vat-entertainment-provided-to-directors-and-partners-of-a-business thumbnail https://www.feldonaccountancy.co.uk/2025/09/exception-from-vat-registration Businesses over £90,000 turnover must register for VAT, but HMRC may grant exceptions if the increase is temporary. A business must register for VAT if either of the following applies: At the end The post Exception from VAT registration appeared first on Feldon Accountancy. Thu, 25 Sep 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/09/exception-from-vat-registration thumbnail https://www.feldonaccountancy.co.uk/2025/09/tax-free-income-from-letting-a-room-in-your-home Homeowners can earn up to £7,500 tax-free under the rent-a-room scheme, with simple reporting and flexible tax options. This set of special rules is designed to encourage individuals to make use of The post Tax-free income from letting a room in your home appeared first on Feldon Accountancy. Thu, 25 Sep 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/09/tax-free-income-from-letting-a-room-in-your-home thumbnail https://www.feldonaccountancy.co.uk/2025/09/two-important-2025-self-assessment-deadlines Paper tax returns are due 31 October 2025, and new registrants must notify HMRC by 5 October 2025. Act early to avoid penalties. Firstly, the deadline for submitting paper self-assessment tax returns The post Two important 2025 self-assessment deadlines appeared first on Feldon Accountancy. Thu, 25 Sep 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/09/two-important-2025-self-assessment-deadlines thumbnail https://www.feldonaccountancy.co.uk/2025/09/sharing-income-from-jointly-held-property The standard tax treatment for couples living together, whether married or in a civil partnership, is that income from jointly held property is split equally (50:50) between them, regardless of their The post Sharing income from jointly held property appeared first on Feldon Accountancy. Thu, 25 Sep 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/09/sharing-income-from-jointly-held-property thumbnail https://www.feldonaccountancy.co.uk/2025/09/are-casual-payments-taxable Not all casual payments are tax-free; HMRC’s miscellaneous income rules may apply depending on the circumstances. The special miscellaneous income rules sweep-up provisions that seek to charge tax on The post Are casual payments taxable? appeared first on Feldon Accountancy. Thu, 25 Sep 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/09/are-casual-payments-taxable thumbnail https://www.feldonaccountancy.co.uk/2025/09/choosing-the-right-way-to-buy-a-vehicle-for-your-business For many business owners, a vehicle is an essential tool. Whether it is for visiting clients, delivering goods, or simply keeping things moving, choosing how to finance a vehicle can have a big impact The post Choosing the right way to buy a vehicle for your business appeared first on Feldon Accountancy. Mon, 22 Sep 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/09/choosing-the-right-way-to-buy-a-vehicle-for-your-business thumbnail https://www.feldonaccountancy.co.uk/2025/09/what-is-the-recent-150bn-tech-investment-deal During the State Visit by President Trump, the UK secured a record-breaking £150 billion of inward investment from US firms. The package is intended to boost jobs, support growth, and advance the UK’s The post What is the recent £150bn tech investment deal? appeared first on Feldon Accountancy. Mon, 22 Sep 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/09/what-is-the-recent-150bn-tech-investment-deal thumbnail https://www.feldonaccountancy.co.uk/2025/09/war-widows-recognition-payments-scheme Bereaved spouses who lost service pensions before 2015 have until 15 October 2025 to claim a one-off £87,500 recognition payment. This scheme was launched in October 2023 to help war widows and The post War Widows Recognition Payments Scheme appeared first on Feldon Accountancy. Thu, 18 Sep 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/09/war-widows-recognition-payments-scheme thumbnail https://www.feldonaccountancy.co.uk/2025/09/who-needs-to-register-for-anti-money-laundering-supervision If your business operates in a sector covered by the Money Laundering Regulations, you must be monitored by a supervisory authority to ensure compliance. This article outlines who needs to register The post Who needs to register for anti-money laundering supervision appeared first on Feldon Accountancy. Thu, 18 Sep 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/09/who-needs-to-register-for-anti-money-laundering-supervision thumbnail https://www.feldonaccountancy.co.uk/2025/09/unauthorised-issue-of-a-vat-invoice Issuing a VAT invoice without registration or authorisation can lead to HMRC penalties, even if it is done by mistake. A penalty may be charged by HMRC when an individual or business issues an The post Unauthorised issue of a VAT invoice appeared first on Feldon Accountancy. Thu, 18 Sep 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/09/unauthorised-issue-of-a-vat-invoice thumbnail https://www.feldonaccountancy.co.uk/2025/09/beware-scams-pretending-to-be-hmrc Fraudsters are continuing to target taxpayers with scam emails as the deadline for submission of self-assessment returns for the 2024-25 tax year gets ever closer. In the 12 months to 31 July 2025, The post Beware scams pretending to be HMRC appeared first on Feldon Accountancy. Thu, 18 Sep 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/09/beware-scams-pretending-to-be-hmrc thumbnail https://www.feldonaccountancy.co.uk/2025/09/dividend-taxes-will-they-increase Speculation is growing that rates or allowances applied to dividend income may change in the next Budget. The current tax rates for dividends received (in excess of the £500 dividend tax allowance) The post Dividend taxes will they increase? appeared first on Feldon Accountancy. Thu, 18 Sep 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/09/dividend-taxes-will-they-increase thumbnail https://www.feldonaccountancy.co.uk/2025/09/tax-relief-for-employer-contributions-to-a-pension-scheme Employers can generally claim tax relief on contributions made to a registered pension scheme by deducting those payments as an expense when calculating their business profits. This reduces the amount The post Tax relief for employer contributions to a pension scheme appeared first on Feldon Accountancy. Thu, 18 Sep 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/09/tax-relief-for-employer-contributions-to-a-pension-scheme thumbnail https://www.feldonaccountancy.co.uk/2025/09/dont-rush-to-judgement-over-pending-tribunal-claims Mr. Aslam, a former Metroline employee, applied to another bus company on 13 April 2019, disclosing that he suffered from partial hearing loss, depression, anxiety, insomnia and stress, and was The post Don’t rush to judgement over pending tribunal claims appeared first on Feldon Accountancy. Wed, 17 Sep 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/09/dont-rush-to-judgement-over-pending-tribunal-claims thumbnail https://www.feldonaccountancy.co.uk/2025/09/why-you-should-maintain-a-tax-reserve Every business has a duty to pay tax, whether that is Corporation Tax, VAT, PAYE, or personal tax liabilities for the owners. While these payments are predictable, many businesses still find The post Why you should maintain a tax reserve appeared first on Feldon Accountancy. Mon, 15 Sep 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/09/why-you-should-maintain-a-tax-reserve thumbnail https://www.feldonaccountancy.co.uk/2025/09/understanding-working-capital-and-why-it-matters Working capital is a simple but powerful measure of a business’s financial health. It is the difference between current assets and current liabilities. In other words, it shows what is left when a The post Understanding working capital and why it matters appeared first on Feldon Accountancy. Mon, 15 Sep 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/09/understanding-working-capital-and-why-it-matters thumbnail https://www.feldonaccountancy.co.uk/2025/09/how-do-hmrc-define-wholly-and-exclusively-for-tax-purposes Not sure if a business cost is deductible? HMRC’s ‘wholly and exclusively’ rule is the key test. When deciding whether an expense is deductible or not it is important to bear in mind that the The post How do HMRC define “wholly and exclusively” for tax purposes appeared first on Feldon Accountancy. Thu, 11 Sep 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/09/how-do-hmrc-define-wholly-and-exclusively-for-tax-purposes thumbnail https://www.feldonaccountancy.co.uk/2025/09/when-you-cannot-charge-vat Not all goods and services carry a 20% VAT, knowing the right rate can save costly mistakes. When a VAT-registered business issues an invoice to their customer, they must ensure that they charge the The post When you cannot charge VAT appeared first on Feldon Accountancy. Thu, 11 Sep 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/09/when-you-cannot-charge-vat thumbnail https://www.feldonaccountancy.co.uk/2025/09/budget-date-announced The Chancellor of the Exchequer, Rachel Reeves has confirmed, in a video message, that the next UK Budget will take place on Wednesday, 26 November 2025. Details of all the Budget announcements will The post Budget date announced appeared first on Feldon Accountancy. Thu, 11 Sep 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/09/budget-date-announced thumbnail https://www.feldonaccountancy.co.uk/2025/09/using-your-own-car-for-work-purposes Using your own car or bike for work travel? You may be able to claim tax relief for business mileage. If you are employed and spend your own money on items needed for your job, you may be eligible to The post Using your own car for work purposes appeared first on Feldon Accountancy. Thu, 11 Sep 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/09/using-your-own-car-for-work-purposes thumbnail https://www.feldonaccountancy.co.uk/2025/09/how-to-pay-corporation-tax-online Paying Corporation Tax? Always use the correct reference or risk delays and penalties. To pay Corporation Tax via online or telephone bank transfer, you can use either a UK or overseas bank The post How to pay corporation tax online appeared first on Feldon Accountancy. Thu, 11 Sep 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/09/how-to-pay-corporation-tax-online thumbnail https://www.feldonaccountancy.co.uk/2025/09/what-is-the-settlement-legislation Thinking of gifting income to a spouse or partner? HMRC’s settlements rules may still tax it as your own. The settlements legislation is contained in s.624 ITTOIA 2005. The legislation seeks to The post What is the settlement legislation? appeared first on Feldon Accountancy. Thu, 11 Sep 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/09/what-is-the-settlement-legislation thumbnail https://www.feldonaccountancy.co.uk/2025/09/16-years-old-the-minimum-age-for-a-company-director Thinking of starting a company at 16? Know the rules, risks and responsibilities before you take the leap. The Companies Act 2006 does not set a minimum age for shareholders, meaning even minors can The post 16 years old – the minimum age for a company director appeared first on Feldon Accountancy. Thu, 11 Sep 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/09/16-years-old-the-minimum-age-for-a-company-director thumbnail https://www.feldonaccountancy.co.uk/2025/09/gov-uk-one-login-enhanced-security-from-13-oct-2025 From 13 October 2025, access to Companies House WebFiling will require GOV.UK One Login. This replaces the older Government Gateway sign-in and is part of the wider move towards a single, more secure The post GOV.UK One Login – enhanced security from 13 Oct 2025 appeared first on Feldon Accountancy. Mon, 08 Sep 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/09/gov-uk-one-login-enhanced-security-from-13-oct-2025 thumbnail https://www.feldonaccountancy.co.uk/2025/09/tax-diary-october-november-2025 1 October 2025 - Due date for Corporation Tax due for the year ended 31 December 2024. 19 October 2025 - PAYE and NIC deductions due for month ended 5 October 2025. (If you pay your tax The post Tax Diary October/November 2025 appeared first on Feldon Accountancy. Mon, 08 Sep 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/09/tax-diary-october-november-2025 thumbnail https://www.feldonaccountancy.co.uk/2025/09/what-insurance-cover-should-a-company-consider Running a small business comes with plenty to juggle, and while insurance might not be the most thrilling task, it is absolutely essential. There is one policy you are legally required to have: The post What insurance cover should a company consider? appeared first on Feldon Accountancy. Mon, 08 Sep 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/09/what-insurance-cover-should-a-company-consider thumbnail https://www.feldonaccountancy.co.uk/2025/09/holding-over-gains-on-gifts Gift Hold-Over Relief is a form of Capital Gains Tax (CGT) relief that allows you to defer paying CGT when certain assets, such as qualifying shares, are given away or sold for less than their market The post Holding over gains on gifts appeared first on Feldon Accountancy. Thu, 04 Sep 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/09/holding-over-gains-on-gifts thumbnail https://www.feldonaccountancy.co.uk/2025/09/what-counts-as-working-time-for-minimum-wage-purposes Employers must ensure they are paying staff at least the National Minimum Wage (NMW) or National Living Wage (NLW). The NMW and the NLW are the minimum legal amounts that employers must pay their The post What counts as working time for minimum wage purposes appeared first on Feldon Accountancy. Thu, 04 Sep 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/09/what-counts-as-working-time-for-minimum-wage-purposes thumbnail https://www.feldonaccountancy.co.uk/2025/09/vat-late-filing-penalties New rules mean late VAT filings and payments now trigger points, fines and interest charges. The VAT late filing penalties regime changed for accounting periods beginning on or after 1 January 2023. The post VAT late filing penalties appeared first on Feldon Accountancy. Thu, 04 Sep 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/09/vat-late-filing-penalties thumbnail https://www.feldonaccountancy.co.uk/2025/09/why-your-tax-code-might-change The letters in your tax code indicate whether you are entitled to the annual tax-free personal allowance. These codes are updated each year and help employers calculate how much tax should be deducted The post Why your tax code might change appeared first on Feldon Accountancy. Thu, 04 Sep 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/09/why-your-tax-code-might-change thumbnail https://www.feldonaccountancy.co.uk/2025/09/are-you-selling-goods-or-services-on-a-digital-platform From 2024, platforms like eBay, Vinted and Airbnb must report seller data to HMRC, so check your tax responsibilities. If you sell goods or services on a digital platform it is important to The post Are you selling goods or services on a digital platform? appeared first on Feldon Accountancy. Thu, 04 Sep 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/09/are-you-selling-goods-or-services-on-a-digital-platform thumbnail https://www.feldonaccountancy.co.uk/2025/09/gifts-with-reservation-of-benefit Gifting assets can cut inheritance tax, but traps like “gifts with reservation of benefit” may undo the plan. The majority of gifts made during a person's lifetime are not subject to tax The post Gifts with reservation of benefit appeared first on Feldon Accountancy. Thu, 04 Sep 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/09/gifts-with-reservation-of-benefit thumbnail https://www.feldonaccountancy.co.uk/2025/09/balancing-access-to-justice-and-abuse-of-process An extended civil restraint order (ECRO) was issued against a prolific Employment Tribunal (ET) litigant for presenting repeated and baseless claims. A Mr. Khan has been described as a prolific The post Balancing access to justice and abuse of process appeared first on Feldon Accountancy. Tue, 02 Sep 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/09/balancing-access-to-justice-and-abuse-of-process thumbnail https://www.feldonaccountancy.co.uk/2025/09/cash-flow-resilience-and-access-to-funding Running a small business often feels like walking a financial tightrope. Cash can be flowing in nicely one month, only to dry up the next. With interest rates higher than they were for years and The post Cash flow resilience and access to funding appeared first on Feldon Accountancy. Mon, 01 Sep 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/09/cash-flow-resilience-and-access-to-funding thumbnail https://www.feldonaccountancy.co.uk/2025/09/keeping-your-best-people-with-flexible-working For many small business owners, finding and keeping good staff is one of the biggest headaches. Recruitment is costly, time-consuming and uncertain. That is why focusing on staff retention is one of The post Keeping your best people with flexible working appeared first on Feldon Accountancy. Mon, 01 Sep 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/09/keeping-your-best-people-with-flexible-working thumbnail https://www.feldonaccountancy.co.uk/2025/08/what-if-your-pension-contributions-are-excessive You can claim tax relief on pension contributions up to 100% of earnings, but exceeding the annual allowance may trigger charges. Tax relief is paid on pension contributions at the highest rate of The post What if your pension contributions are excessive? appeared first on Feldon Accountancy. Thu, 28 Aug 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/08/what-if-your-pension-contributions-are-excessive thumbnail https://www.feldonaccountancy.co.uk/2025/08/fixing-problems-with-running-payroll Employers must report pay and deductions correctly to HMRC, but errors can usually be fixed in your next FPS. Employers need to use payroll software or other payroll services to record employees pay, The post Fixing problems with running payroll appeared first on Feldon Accountancy. Thu, 28 Aug 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/08/fixing-problems-with-running-payroll thumbnail https://www.feldonaccountancy.co.uk/2025/08/corporation-tax-roadmap With a £50bn shortfall looming, the Chancellor may need to revisit last year’s Corporation Tax roadmap commitments. As this year’s Autumn Budget approaches, it is an interesting time to revisit the The post Corporation tax roadmap appeared first on Feldon Accountancy. Thu, 28 Aug 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/08/corporation-tax-roadmap thumbnail https://www.feldonaccountancy.co.uk/2025/08/what-are-the-current-income-tax-bands-and-allowances Income Tax applies to earnings, pensions, savings, dividends and more, with different bands across the UK nations. Individuals can be liable to Income Tax at any age. There are special rules to stop The post What are the current Income Tax bands and allowances? appeared first on Feldon Accountancy. Thu, 28 Aug 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/08/what-are-the-current-income-tax-bands-and-allowances thumbnail https://www.feldonaccountancy.co.uk/2025/08/mtd-for-it-taxpayer-exemption From April 2026, the self-employed and landlords must use MTD for IT, but exemptions may apply in limited cases. If you are self-employed or a landlord with income over £50,000, you will need to The post MTD for IT taxpayer exemption appeared first on Feldon Accountancy. Thu, 28 Aug 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/08/mtd-for-it-taxpayer-exemption thumbnail https://www.feldonaccountancy.co.uk/2025/08/unused-pension-funds-and-iht-from-april-2027 From 6 April 2027, new measures first announced in the Autumn Budget 2024 will come into force. These changes will bring most unused pension funds and death benefits into the scope of Inheritance Tax The post Unused pension funds and IHT from April 2027 appeared first on Feldon Accountancy. Thu, 28 Aug 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/08/unused-pension-funds-and-iht-from-april-2027 thumbnail https://www.feldonaccountancy.co.uk/2025/08/why-increasing-an-overdraft-to-fund-losses-is-a-dangerous-game Many business owners see their bank overdraft as a flexible safety net. When cash runs short, the temptation is to ask the bank for a higher limit to keep things moving. While this can provide The post Why increasing an overdraft to fund losses is a dangerous game appeared first on Feldon Accountancy. Tue, 26 Aug 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/08/why-increasing-an-overdraft-to-fund-losses-is-a-dangerous-game thumbnail https://www.feldonaccountancy.co.uk/2025/08/how-to-gain-a-competitive-advantage In every market, businesses face competition. Some competitors may be larger, others may have deeper pockets, but gaining a competitive advantage is not always about size or spending power. It is The post How to gain a competitive advantage appeared first on Feldon Accountancy. Tue, 26 Aug 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/08/how-to-gain-a-competitive-advantage thumbnail https://www.feldonaccountancy.co.uk/2025/08/company-director-disqualification Company directors have a legal duty to act responsibly and in the best interests of their business. If a director fails to meet these responsibilities, they can face disqualification from acting as a The post Company director disqualification appeared first on Feldon Accountancy. Thu, 21 Aug 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/08/company-director-disqualification thumbnail https://www.feldonaccountancy.co.uk/2025/08/applying-for-home-responsibilities-protection Did you know a missing Home Responsibilities Protection (HRP) record could reduce your State Pension, but you may still have time to put it right. Home Responsibilities Protection (HRP) was a scheme The post Applying for Home Responsibilities Protection appeared first on Feldon Accountancy. Thu, 21 Aug 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/08/applying-for-home-responsibilities-protection thumbnail https://www.feldonaccountancy.co.uk/2025/08/what-is-the-pensions-money-purchase-annual-allowance The Money Purchase Annual Allowance (MPAA) is a pension rule designed to prevent individuals from gaining double tax relief on pension contributions. It targets situations where someone withdraws The post What is the pension’s Money Purchase Annual Allowance? appeared first on Feldon Accountancy. Thu, 21 Aug 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/08/what-is-the-pensions-money-purchase-annual-allowance thumbnail https://www.feldonaccountancy.co.uk/2025/08/using-the-159-helpline If a call from your bank feels suspicious, just hang up and dial 159 to be connected safely to your bank’s fraud team. The 159 helpline was launched in September 2021. The helpline is designed to The post Using the 159 helpline appeared first on Feldon Accountancy. Thu, 21 Aug 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/08/using-the-159-helpline thumbnail https://www.feldonaccountancy.co.uk/2025/08/tax-diary-september-october-2025 1 September 2025 - Due date for corporation tax due for the year ended 30 November 2024. 19 September 2025 - PAYE and NIC deductions due for month ended 5 September 2025. (If you pay your tax The post Tax Diary September/October 2025 appeared first on Feldon Accountancy. Thu, 21 Aug 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/08/tax-diary-september-october-2025 thumbnail https://www.feldonaccountancy.co.uk/2025/08/what-happens-if-you-cannot-pay-your-tax-bill If you cannot pay your tax bill, it’s crucial to contact HMRC as soon as possible. They may offer support through a Time to Pay arrangement, allowing you to repay your debt in instalments based on The post What happens if you cannot pay your tax bill? appeared first on Feldon Accountancy. Thu, 21 Aug 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/08/what-happens-if-you-cannot-pay-your-tax-bill thumbnail https://www.feldonaccountancy.co.uk/2025/08/when-dividends-cannot-be-paid Under the Companies Act 2006, dividends can only be paid from realised profits, never from capital, no matter what a company’s Articles of Association say. Dividends can only be paid by a company out The post When dividends cannot be paid appeared first on Feldon Accountancy. Thu, 21 Aug 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/08/when-dividends-cannot-be-paid thumbnail https://www.feldonaccountancy.co.uk/2025/08/tripartite-arrangements-dont-necessarily-enable-an-agency-to-escape-accountability The question was raised as to whether, in a tripartite agency relationship, an employment relationship exists between an employee and their intermediary agency. For instance, Ryanair DAC employs some The post Tripartite arrangements don’t necessarily enable an agency to escape accountability appeared first on Feldon Accountancy. Wed, 20 Aug 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/08/tripartite-arrangements-dont-necessarily-enable-an-agency-to-escape-accountability thumbnail https://www.feldonaccountancy.co.uk/2025/08/improve-cash-flow-with-smarter-invoicing-habits Why cash flow matters Profit is important, but cash pays wages, suppliers and loan repayments. Even strong businesses can struggle if money arrives late. A few disciplined habits around invoicing and The post Improve cash flow with smarter invoicing habits appeared first on Feldon Accountancy. Mon, 18 Aug 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/08/improve-cash-flow-with-smarter-invoicing-habits thumbnail https://www.feldonaccountancy.co.uk/2025/08/management-buyouts-benefits-for-owners-and-teams A management buyout keeps the business in familiar hands. The team that already understands customers, systems, and culture steps into ownership, which reduces disruption and protects service quality. The post Management buyouts: benefits for owners and teams appeared first on Feldon Accountancy. Mon, 18 Aug 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/08/management-buyouts-benefits-for-owners-and-teams thumbnail https://www.feldonaccountancy.co.uk/2025/08/definition-of-a-building-sub-contractor Know the rules for contractors & subs under CIS to avoid issues with HMRC. Under the Construction Industry Scheme (CIS), HMRC applies specific tax rules to contractors and subcontractors in the The post Definition of a building sub-contractor appeared first on Feldon Accountancy. Thu, 14 Aug 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/08/definition-of-a-building-sub-contractor thumbnail https://www.feldonaccountancy.co.uk/2025/08/vat-digital-record-keeping HMRC requires businesses to maintain accurate VAT records to ensure correct tax payments. While all businesses must retain general records (such as invoices, bank statements, and receipts), a key The post VAT – digital record keeping appeared first on Feldon Accountancy. Thu, 14 Aug 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/08/vat-digital-record-keeping thumbnail https://www.feldonaccountancy.co.uk/2025/08/rules-to-protect-effects-of-debanking Banks must now give 90 days’ notice before closing accounts, giving customers more time to respond. Since April 2026, new government rules strengthen protections for individuals and small businesses The post Rules to protect effects of debanking appeared first on Feldon Accountancy. Thu, 14 Aug 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/08/rules-to-protect-effects-of-debanking thumbnail https://www.feldonaccountancy.co.uk/2025/08/what-is-support-for-mortgage-interest SMI loans can help pay mortgage interest for those on benefits, but repayment is due when the home is sold. Support for Mortgage Interest (SMI) is a government-backed loan provided by the Department The post What is Support for Mortgage Interest? appeared first on Feldon Accountancy. Thu, 14 Aug 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/08/what-is-support-for-mortgage-interest thumbnail https://www.feldonaccountancy.co.uk/2025/08/help-with-outstanding-tax-bills HMRC’s Time to Pay lets eligible taxpayers spread tax bills over time, avoiding immediate enforcement. If you owe tax to HMRC, you may be able to set up an online ‘Time to Pay’ payment plan The post Help with outstanding tax bills appeared first on Feldon Accountancy. Thu, 14 Aug 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/08/help-with-outstanding-tax-bills thumbnail https://www.feldonaccountancy.co.uk/2025/08/trusts-and-income-tax Trustees must manage assets, follow tax rules, and register with HMRC where required. A trust is a legal arrangement in which a trustee, either an individual or a company, is entrusted with managing The post Trusts and Income Tax appeared first on Feldon Accountancy. Thu, 14 Aug 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/08/trusts-and-income-tax thumbnail https://www.feldonaccountancy.co.uk/2025/08/a-magical-clause-does-not-necessarily-nullify-employment-status A recent ruling has provided a timely reminder that substance trumps form in employment status disputes, and the mere insertion of a clause does not automatically change the employment status of The post A magical clause does not necessarily nullify employment status appeared first on Feldon Accountancy. Wed, 13 Aug 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/08/a-magical-clause-does-not-necessarily-nullify-employment-status thumbnail https://www.feldonaccountancy.co.uk/2025/08/pre-budget-tax-planning-act-now With the next UK Budget approaching, there is speculation about changes to tax rates, allowances, and reliefs. Acting now can help secure current benefits before any new rules take effect. Key areas The post Pre-Budget tax planning – act now appeared first on Feldon Accountancy. Mon, 11 Aug 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/08/pre-budget-tax-planning-act-now thumbnail https://www.feldonaccountancy.co.uk/2025/08/building-value-in-your-business For many small business owners, the focus is on day-to-day operations. However, building long-term value is just as important, whether your aim is to sell in the future, attract investors, or secure The post Building value in your business appeared first on Feldon Accountancy. Mon, 11 Aug 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/08/building-value-in-your-business thumbnail https://www.feldonaccountancy.co.uk/2025/08/hmrc-to-increase-anti-money-laundering-fees Fit and proper test fee to jump from £150 to £700 under HMRC’s proposed AML supervision changes Many businesses are monitored by the Financial Conduct Authority (FCA) or certain professional bodies The post HMRC to increase anti-money laundering fees appeared first on Feldon Accountancy. Thu, 07 Aug 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/08/hmrc-to-increase-anti-money-laundering-fees thumbnail https://www.feldonaccountancy.co.uk/2025/08/interactive-online-tool-for-tax-compliance-check HMRC’s new Q&A tool guides you through each step of a compliance check. The free interactive online tool is designed to help individuals and businesses better understand what happens during a tax The post Interactive online tool for tax compliance check appeared first on Feldon Accountancy. Thu, 07 Aug 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/08/interactive-online-tool-for-tax-compliance-check thumbnail https://www.feldonaccountancy.co.uk/2025/08/reclaiming-duty-moving-goods-to-northern-ireland Businesses can reclaim duties on qualifying goods moved to or through Northern Ireland since 2021 The Northern Ireland Duty Reimbursement Scheme allows businesses to reclaim import duties paid on The post Reclaiming duty moving goods to Northern Ireland appeared first on Feldon Accountancy. Thu, 07 Aug 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/08/reclaiming-duty-moving-goods-to-northern-ireland thumbnail https://www.feldonaccountancy.co.uk/2025/08/homebuyers-warning Properties needing repairs still count as homes and false claims to recover Stamp Duty Land Tax could mean big tax bills and penalties. HMRC has issued a warning to homebuyers about rogue tax agents The post Homebuyers warning appeared first on Feldon Accountancy. Thu, 07 Aug 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/08/homebuyers-warning thumbnail https://www.feldonaccountancy.co.uk/2025/08/challenging-your-council-tax-band If your property has changed or seems mis-banded, you may have the right to request a Council Tax review. Properties in England and Wales are assigned Council Tax bands based on their value as of 1 The post Challenging your Council Tax band appeared first on Feldon Accountancy. Thu, 07 Aug 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/08/challenging-your-council-tax-band thumbnail https://www.feldonaccountancy.co.uk/2025/08/bank-rate-trimmed-to-4 The Bank of England has knocked the main interest rate down to 4% today, cutting it by a quarter‑point from 4.25%. It’s the fifth cut in a year and brings the rate to its lowest since March 2023. The The post Bank Rate trimmed to 4% appeared first on Feldon Accountancy. Thu, 07 Aug 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/08/bank-rate-trimmed-to-4 thumbnail https://www.feldonaccountancy.co.uk/2025/08/who-can-claim-the-iht-residence-nil-rate-band With the Residence Nil Rate Band (RNRB), families can pass on up to £1 million without IHT The RNRB is an additional £175,000 Inheritance Tax (IHT) allowance that applies when a person’s main The post Who can claim the IHT residence nil rate band appeared first on Feldon Accountancy. Thu, 07 Aug 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/08/who-can-claim-the-iht-residence-nil-rate-band thumbnail https://www.feldonaccountancy.co.uk/2025/08/employing-family-members-in-your-business Many small business owners turn to family members when looking to fill roles in their team. It can seem like a natural choice, offering trust, loyalty, and a shared sense of purpose. However, The post Employing family members in your business appeared first on Feldon Accountancy. Mon, 04 Aug 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/08/employing-family-members-in-your-business thumbnail https://www.feldonaccountancy.co.uk/2025/08/the-value-of-retaining-profits-to-support-cash-flow-and-growth For small businesses and growing companies alike, one of the most reliable sources of funding is often the profits they generate. While it can be tempting to extract earnings in the form of dividends, The post The value of retaining profits to support cash flow and growth appeared first on Feldon Accountancy. Mon, 04 Aug 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/08/the-value-of-retaining-profits-to-support-cash-flow-and-growth thumbnail https://www.feldonaccountancy.co.uk/2025/07/found-objects-and-capital-gains-tax Items discovered lying on land or buried in the soil, such as antiques or historical objects, are treated as chattels for Capital Gains Tax (CGT) purposes. This remains true even if ownership is tied The post Found objects and Capital Gains Tax appeared first on Feldon Accountancy. Thu, 31 Jul 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/07/found-objects-and-capital-gains-tax thumbnail https://www.feldonaccountancy.co.uk/2025/07/taxation-of-entertainment-expenses Many business gifts and hospitality costs are not tax-deductible under current rules. Entertainment expenses including providing hospitality and business gifts are common, but the taxation of these The post Taxation of entertainment expenses appeared first on Feldon Accountancy. Thu, 31 Jul 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/07/taxation-of-entertainment-expenses thumbnail https://www.feldonaccountancy.co.uk/2025/07/shared-home-ownership Shared home ownership offers a more accessible route to owning a home for those who cannot afford the full deposit or mortgage on a property that suits their needs. Under this scheme, buyers purchase The post Shared home ownership appeared first on Feldon Accountancy. Thu, 31 Jul 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/07/shared-home-ownership thumbnail https://www.feldonaccountancy.co.uk/2025/07/new-self-assessment-services-announced-by-hmrc New digital services have been launched that aim to make filing and managing tax returns quicker and less stressful. These improvements are part of HMRC’s Transformation Roadmap, which sets out over The post New self-assessment services announced by HMRC appeared first on Feldon Accountancy. Thu, 31 Jul 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/07/new-self-assessment-services-announced-by-hmrc thumbnail https://www.feldonaccountancy.co.uk/2025/07/making-tax-digital-important-deadline-dates Making Tax Digital for Income Tax (MTD for IT) will become mandatory in phases from April 2026. If you are self-employed or a landlord earning over £50,000 you need to be prepared for digital record The post Making Tax Digital – important deadline dates appeared first on Feldon Accountancy. Thu, 31 Jul 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/07/making-tax-digital-important-deadline-dates thumbnail https://www.feldonaccountancy.co.uk/2025/07/estate-valuation-for-iht-purposes Before probate begins, you must estimate the estate's value to see if Inheritance Tax applies. This includes valuing the deceased person's money, property and belongings in order to determine if The post Estate valuation for IHT purposes appeared first on Feldon Accountancy. Thu, 31 Jul 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/07/estate-valuation-for-iht-purposes thumbnail https://www.feldonaccountancy.co.uk/2025/07/choosing-a-business-rates-agency The Valuation Office Agency (VOA) has issued updated advice to help business owners choose and monitor business rates agents more effectively. A key message is that the name listed in the Check and The post Choosing a Business Rates Agency appeared first on Feldon Accountancy. Mon, 28 Jul 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/07/choosing-a-business-rates-agency thumbnail https://www.feldonaccountancy.co.uk/2025/07/red-tape-eased-for-new-cafes-and-bars Communities and town centres across the UK are about to get a serious boost. The Government has unveiled sweeping reforms aimed at slashing red tape so new cafés, bars, music venues and outdoor The post Red tape eased for new cafes and bars appeared first on Feldon Accountancy. Mon, 28 Jul 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/07/red-tape-eased-for-new-cafes-and-bars thumbnail https://www.feldonaccountancy.co.uk/2025/07/iht-unused-pension-funds-and-death-benefits-changes It was confirmed with the publication of the draft Finance Bill 2025-26 that measures first announced in the Autumn Budget 2024 to bring most unused pension funds and death benefits into the scope of The post IHT Unused Pension Funds and Death Benefits changes appeared first on Feldon Accountancy. Thu, 24 Jul 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/07/iht-unused-pension-funds-and-death-benefits-changes thumbnail https://www.feldonaccountancy.co.uk/2025/07/current-inheritance-tax-thresholds Married couples can pass on up to £1 million tax-free if they plan their estates carefully. The Inheritance Tax (IHT) nil-rate band is currently £325,000. This means there is normally no IHT to pay The post Current Inheritance Tax thresholds appeared first on Feldon Accountancy. Thu, 24 Jul 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/07/current-inheritance-tax-thresholds thumbnail https://www.feldonaccountancy.co.uk/2025/07/verifying-your-id-at-companies-house You now need to set up a verified GOV.UK One Login to confirm your identity with Companies House. To verify your identity at Companies House, you can use the GOV.UK online verification service if you The post Verifying your ID at Companies House appeared first on Feldon Accountancy. Thu, 24 Jul 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/07/verifying-your-id-at-companies-house thumbnail https://www.feldonaccountancy.co.uk/2025/07/capital-gains-valuations-of-goodwill Who values goodwill when a business is sold? HMRC's Shares and Assets Valuation team takes the lead. Whether the goodwill belongs to a sole trader, partnership or limited company, HMRC’s SAV team The post Capital Gains valuations of goodwill appeared first on Feldon Accountancy. Thu, 24 Jul 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/07/capital-gains-valuations-of-goodwill thumbnail https://www.feldonaccountancy.co.uk/2025/07/vat-relief-for-the-disabled VAT relief is available on goods and services for people with long-term illnesses or disabilities. There are special VAT reliefs available for certain people living with disabilities or long-term The post VAT relief for the disabled appeared first on Feldon Accountancy. Thu, 24 Jul 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/07/vat-relief-for-the-disabled thumbnail https://www.feldonaccountancy.co.uk/2025/07/iht-agricultural-and-business-property-relief-changes-confirmed Despite intense lobbying by the farming community, the proposed reduction in IHT Business and Agricultural Property reliefs are included in the draft Finance Bill 2025-26. On 21 July 2025, the The post IHT Agricultural and Business Property Relief changes confirmed appeared first on Feldon Accountancy. Thu, 24 Jul 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/07/iht-agricultural-and-business-property-relief-changes-confirmed thumbnail https://www.feldonaccountancy.co.uk/2025/07/an-employees-emergency-contact-details-are-strictly-private A recent ruling affirms that an employer is directly liable for the unauthorised disclosure of an employee's private information. An employee worked at a JD Wetherspoon pub for approximately eighteen The post An employee’s emergency contact details are strictly private appeared first on Feldon Accountancy. Wed, 23 Jul 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/07/an-employees-emergency-contact-details-are-strictly-private thumbnail https://www.feldonaccountancy.co.uk/2025/07/uk-export-finance-empowering-uk-businesses-to-go-global UK Export Finance (UKEF) is the UK’s export credit agency and government-backed financier. Its mission is to ensure that no viable UK export fails simply due to lack of funding or insurance. What The post UK Export Finance: Empowering UK Businesses to Go Global appeared first on Feldon Accountancy. Mon, 21 Jul 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/07/uk-export-finance-empowering-uk-businesses-to-go-global thumbnail https://www.feldonaccountancy.co.uk/2025/07/big-cuts-to-electricity-network-costs-for-heavy-industries The UK Government has unveiled a landmark plan to reduce electricity network charges for the country’s most energy intensive industries, such as steel, ceramics, glass and chemicals, slashing costs by The post Big cuts to electricity network costs for heavy industries appeared first on Feldon Accountancy. Mon, 21 Jul 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/07/big-cuts-to-electricity-network-costs-for-heavy-industries thumbnail https://www.feldonaccountancy.co.uk/2025/07/new-requirements-for-overseas-entities Overseas property owners must now report earlier ownership changes or risk penalties from 31 July 2025. Under new rules introduced by the Economic Crime and Corporate Transparency Act 2023, entities The post New requirements for Overseas Entities appeared first on Feldon Accountancy. Thu, 17 Jul 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/07/new-requirements-for-overseas-entities thumbnail https://www.feldonaccountancy.co.uk/2025/07/applying-for-a-national-insurance-number Working or claiming benefits in the UK? You may need to apply for a National Insurance number first. If you do not already have one, your NI number is essential for tracking tax, National Insurance The post Applying for a National Insurance number appeared first on Feldon Accountancy. Thu, 17 Jul 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/07/applying-for-a-national-insurance-number thumbnail https://www.feldonaccountancy.co.uk/2025/07/higher-penalties-for-mtd-filers Making Tax Digital for Income Tax will become mandatory in phases from April 2026. If you are self-employed or a landlord earning over £50,000 you need to start preparing to submit quarterly updates, The post Higher penalties for MTD filers appeared first on Feldon Accountancy. Thu, 17 Jul 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/07/higher-penalties-for-mtd-filers thumbnail https://www.feldonaccountancy.co.uk/2025/07/transfer-pricing-consultation New UK transfer pricing rules could mean more reporting and fewer exemptions for mid-sized businesses. The government is consulting on proposals to tighten compliance and align with global standards. The post Transfer pricing consultation appeared first on Feldon Accountancy. Thu, 17 Jul 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/07/transfer-pricing-consultation thumbnail https://www.feldonaccountancy.co.uk/2025/07/helping-family-or-friends-with-their-tax Need to help a relative or friend with tax? HMRC’s Trusted Helper service makes it quick and easy to support someone online. Whether it is checking Income Tax, updating their personal details or The post Helping family or friends with their tax appeared first on Feldon Accountancy. Thu, 17 Jul 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/07/helping-family-or-friends-with-their-tax thumbnail https://www.feldonaccountancy.co.uk/2025/07/double-tax-conventions-and-iht Double tax on estates can still hit families hard, even with treaties in place. When someone dies with ties to more than one country, their estate may face inheritance tax in both jurisdictions. The post Double Tax Conventions and IHT appeared first on Feldon Accountancy. Thu, 17 Jul 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/07/double-tax-conventions-and-iht thumbnail https://www.feldonaccountancy.co.uk/2025/07/why-industry-expertise-matters-when-starting-a-business Starting your own business can be an exciting and liberating decision. But passion and ambition alone are rarely enough. One of the most overlooked factors in business failure is a lack of direct The post Why industry expertise matters when starting a business appeared first on Feldon Accountancy. Mon, 14 Jul 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/07/why-industry-expertise-matters-when-starting-a-business thumbnail https://www.feldonaccountancy.co.uk/2025/07/choosing-the-right-kpis-for-your-business Key Performance Indicators (KPIs) are not just numbers on a dashboard; they are tools to help business owners make better decisions. But with so many metrics available, how do you know which ones The post Choosing the right KPI’s for your business appeared first on Feldon Accountancy. Mon, 14 Jul 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/07/choosing-the-right-kpis-for-your-business thumbnail https://www.feldonaccountancy.co.uk/2025/07/file-and-paying-cgt-after-property-sales Capital Gains Tax on certain residential property sales must be reported and paid within 60 days to avoid penalties and interest. The annual exempt amount applicable to Capital Gains Tax (CGT) is The post File and paying CGT after property sales appeared first on Feldon Accountancy. Thu, 10 Jul 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/07/file-and-paying-cgt-after-property-sales thumbnail https://www.feldonaccountancy.co.uk/2025/07/the-impact-of-frozen-personal-allowances The impact of frozen personal allowances often leads to fiscal drag, a situation where individuals pay more tax as their earnings rise without a corresponding increase in allowances. This occurs The post The impact of frozen personal allowances appeared first on Feldon Accountancy. Thu, 10 Jul 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/07/the-impact-of-frozen-personal-allowances thumbnail https://www.feldonaccountancy.co.uk/2025/07/the-employment-allowance-what-you-can-claim As of April 2025, more employers can claim the increased £10,500 Employment Allowance thanks to relaxed eligibility rules. This increase will help employers reduce some of the impact of the recent The post The Employment Allowance – what you can claim appeared first on Feldon Accountancy. Thu, 10 Jul 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/07/the-employment-allowance-what-you-can-claim thumbnail https://www.feldonaccountancy.co.uk/2025/07/goodbye-remittance-basis-hello-fig Since 6 April 2025, the remittance basis of taxation for non-UK domiciled individuals (non-doms) has been replaced by the Foreign Income and Gains (FIG) regime. This shift marks a significant change, The post Goodbye remittance basis hello FIG appeared first on Feldon Accountancy. Thu, 10 Jul 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/07/goodbye-remittance-basis-hello-fig thumbnail https://www.feldonaccountancy.co.uk/2025/07/struggling-to-fund-your-july-tax-payment The second 2024-25 payment on account for self-assessment taxpayers is due on 31 July 2025. If you are finding it difficult to meet this tax bill, there are options available to ease the The post Struggling to fund your July tax payment? appeared first on Feldon Accountancy. Thu, 10 Jul 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/07/struggling-to-fund-your-july-tax-payment thumbnail https://www.feldonaccountancy.co.uk/2025/07/dont-forget-to-pay-your-class-1a-nic Employers must act now to meet the deadline for paying Class 1A NICs for 2024-25 to avoid HMRC penalties. These contributions are due by 19 July 2025 if paying by post, or by 22 July 2025 for The post Don’t forget to pay your Class 1A NIC appeared first on Feldon Accountancy. Thu, 10 Jul 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/07/dont-forget-to-pay-your-class-1a-nic thumbnail https://www.feldonaccountancy.co.uk/2025/07/tax-diary-august-september-2025 1 August 2025 - Due date for corporation tax due for the year ended 31 October 2024. 19 August 2025 - PAYE and NIC deductions due for month ended 5 August 2025 (If you pay your tax electronically the The post Tax Diary August/September 2025 appeared first on Feldon Accountancy. Wed, 09 Jul 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/07/tax-diary-august-september-2025 thumbnail https://www.feldonaccountancy.co.uk/2025/07/being-paid-directly-is-not-a-confirmation-that-you-are-an-employee A Tribunal has provided a landmark ruling over employer-employee status in the context of direct payments made under the Care Act 2014, ruling that an LA was not in fact the direct employer of a The post Being paid directly is not a confirmation that you are an employee appeared first on Feldon Accountancy. Wed, 09 Jul 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/07/being-paid-directly-is-not-a-confirmation-that-you-are-an-employee thumbnail https://www.feldonaccountancy.co.uk/2025/07/autumn-budget-2025-what-changes-might-be-on-the-horizon As we look ahead to the Autumn Budget 2025, it is clear that the Chancellor, Rachel Reeves, will be under pressure to balance public expectations with fiscal reality. A combination of reduced growth The post Autumn Budget 2025: What Changes Might Be on the Horizon? appeared first on Feldon Accountancy. Mon, 07 Jul 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/07/autumn-budget-2025-what-changes-might-be-on-the-horizon thumbnail https://www.feldonaccountancy.co.uk/2025/07/why-exit-planning-matters-even-in-the-early-years-of-your-business Starting and growing a business is an exciting and demanding challenge. It is easy to focus all your energy on immediate goals like winning customers, generating income, and keeping cash flow under The post Why exit planning matters – even in the early years of your business appeared first on Feldon Accountancy. Mon, 07 Jul 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/07/why-exit-planning-matters-even-in-the-early-years-of-your-business thumbnail https://www.feldonaccountancy.co.uk/2025/07/setting-up-a-payroll-scheme Registering for payroll is essential when hiring staff. From HMRC registration to legal compliance, getting payroll processes right ensures your team is paid correctly and your business avoids The post Setting up a payroll scheme appeared first on Feldon Accountancy. Thu, 03 Jul 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/07/setting-up-a-payroll-scheme thumbnail https://www.feldonaccountancy.co.uk/2025/07/who-is-liable-to-income-tax-at-scottish-rates Where you live determines if you pay Scottish Income Tax. The rules are not based on where you work, who pays you, or national identity, but on your main UK home during the tax year. The definition The post Who is liable to Income Tax at Scottish rates? appeared first on Feldon Accountancy. Thu, 03 Jul 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/07/who-is-liable-to-income-tax-at-scottish-rates thumbnail https://www.feldonaccountancy.co.uk/2025/07/tax-returns-for-a-deceased-taxpayer You may need to submit tax returns for someone who has died. As the personal representative, you are legally responsible for reporting income earned before and after death. This person, known as the The post Tax returns for a deceased taxpayer appeared first on Feldon Accountancy. Thu, 03 Jul 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/07/tax-returns-for-a-deceased-taxpayer thumbnail https://www.feldonaccountancy.co.uk/2025/07/what-if-you-no-longer-need-to-submit-a-tax-return You must tell HMRC if you no longer need to file a tax return. Whether you have stopped trading or no longer rent out property, notifying HMRC early avoids penalties and keeps your records up to The post What if you no longer need to submit a tax return appeared first on Feldon Accountancy. Thu, 03 Jul 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/07/what-if-you-no-longer-need-to-submit-a-tax-return thumbnail https://www.feldonaccountancy.co.uk/2025/07/do-you-have-additional-income-streams Side income over £1,000 may mean filing a tax return. HMRC is urging part-time earners to check their tax position for 2024-25, especially if they earn from casual work, renting, or crypto. If you The post Do you have additional income streams? appeared first on Feldon Accountancy. Thu, 03 Jul 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/07/do-you-have-additional-income-streams thumbnail https://www.feldonaccountancy.co.uk/2025/07/pension-contributions-net-pay-or-relief-at-source Your pension scheme type affects your tax relief. Workplace pensions offer tax benefits, but the method used, net pay or relief at source, changes how and when you get them. Your employer or pension The post Pension contributions, net pay or relief at source? appeared first on Feldon Accountancy. Thu, 03 Jul 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/07/pension-contributions-net-pay-or-relief-at-source thumbnail https://www.feldonaccountancy.co.uk/2025/06/how-ai-is-changing-your-business Artificial intelligence (AI) is no longer something for big tech firms alone - it is becoming a practical tool for small businesses, especially when it comes to financial management and The post How AI is changing your business appeared first on Feldon Accountancy. Mon, 30 Jun 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/06/how-ai-is-changing-your-business thumbnail https://www.feldonaccountancy.co.uk/2025/06/are-you-ready-for-companies-house-id-checks From 2025, Companies House is rolling out new identity verification requirements for directors, people with significant control (PSCs), and anyone forming or managing a UK company. These changes form The post Are you ready for Companies House ID checks? appeared first on Feldon Accountancy. Mon, 30 Jun 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/06/are-you-ready-for-companies-house-id-checks thumbnail https://www.feldonaccountancy.co.uk/2025/06/using-the-vat-cash-accounting-scheme Struggling with late-paying customers? The VAT Cash Accounting Scheme helps protect cash flow by taxing only what you have received. The VAT Cash Accounting Scheme is designed to support businesses The post Using the VAT Cash Accounting Scheme appeared first on Feldon Accountancy. Thu, 26 Jun 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/06/using-the-vat-cash-accounting-scheme thumbnail https://www.feldonaccountancy.co.uk/2025/06/tax-gap-estimated-at-5-3-for-2023-24 HMRC missed out on £46.8bn in tax last year. Small businesses and Corporation Tax make up the biggest share of the shortfall. The tax gap for the 2023-24 tax year has been published and is estimated The post Tax gap estimated at 5.3% for 2023-24 appeared first on Feldon Accountancy. Thu, 26 Jun 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/06/tax-gap-estimated-at-5-3-for-2023-24 thumbnail https://www.feldonaccountancy.co.uk/2025/06/use-hmrc-app-and-be-job-ready-this-summer Starting work this summer? Download the free HMRC app to get your NI number, check your tax code and stay on the right pay. Young people finishing exams and entering the job market this summer are The post Use HMRC app and be job-ready this summer appeared first on Feldon Accountancy. Thu, 26 Jun 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/06/use-hmrc-app-and-be-job-ready-this-summer thumbnail https://www.feldonaccountancy.co.uk/2025/06/claiming-for-uniforms-work-clothing-and-tools Buying tools or clothing for your job? You could claim tax relief. Check if you qualify and how to get your money back. If you have spent your own money on items essential for your work, such as tools The post Claiming for uniforms, work clothing and tools appeared first on Feldon Accountancy. Thu, 26 Jun 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/06/claiming-for-uniforms-work-clothing-and-tools thumbnail https://www.feldonaccountancy.co.uk/2025/06/accounting-on-a-cash-basis From April 2024, the cash basis is the default method for sole traders and most partnerships when preparing Self-Assessment returns. Designed to simplify tax reporting, the cash basis lets businesses The post Accounting on a cash basis appeared first on Feldon Accountancy. Thu, 26 Jun 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/06/accounting-on-a-cash-basis thumbnail https://www.feldonaccountancy.co.uk/2025/06/check-your-state-pension-forecast-online Get a clear view of your future pension. Use the enhanced online service to check, boost, or track your State Pension entitlement. The enhanced Check Your State Pension forecast service is available The post Check your State Pension forecast online appeared first on Feldon Accountancy. Thu, 26 Jun 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/06/check-your-state-pension-forecast-online thumbnail https://www.feldonaccountancy.co.uk/2025/06/pivotal-role-of-the-union-certification-officer-in-addressing-complaints A recent tribunal clarified the procedural powers of the Certification Officer (CO), ruling that applications from trade union members cannot be refused simply because they are deemed The post Pivotal role of the union Certification Officer in addressing complaints appeared first on Feldon Accountancy. Tue, 24 Jun 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/06/pivotal-role-of-the-union-certification-officer-in-addressing-complaints thumbnail https://www.feldonaccountancy.co.uk/2025/06/winter-fuel-payments-reinstated The government has announced the reinstatement of Winter Fuel Payments for pensioners in England and Wales for winter 2025-26, reversing the previous year's cuts. Around nine million pensioners are The post Winter Fuel Payments reinstated appeared first on Feldon Accountancy. Mon, 23 Jun 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/06/winter-fuel-payments-reinstated thumbnail https://www.feldonaccountancy.co.uk/2025/06/redress-for-post-office-capture-victims In a significant update, the UK government has unveiled a new compensation scheme targeting individuals affected by the earlier “Capture” software, used in over 2,000 Post Office branches The post Redress for Post Office Capture victims appeared first on Feldon Accountancy. Mon, 23 Jun 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/06/redress-for-post-office-capture-victims thumbnail https://www.feldonaccountancy.co.uk/2025/06/2025-spending-review-published The government’s 2025 Spending Review outlines a major funding boost for healthcare, defence, housing, and infrastructure to support long-term recovery and growth. The 2025 Spending Review was The post 2025 Spending Review published appeared first on Feldon Accountancy. Thu, 19 Jun 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/06/2025-spending-review-published thumbnail https://www.feldonaccountancy.co.uk/2025/06/present-rates-of-corporation-tax Corporation Tax rises with profit levels. Marginal relief bridges the gap, easing businesses from the 19% small profits rate to the 25% main rate. The Corporation Tax Main Rate applies to companies The post Present rates of Corporation Tax appeared first on Feldon Accountancy. Thu, 19 Jun 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/06/present-rates-of-corporation-tax thumbnail https://www.feldonaccountancy.co.uk/2025/06/when-do-the-higher-rates-of-income-tax-apply Once your income passes £100,000, your tax-free allowance starts to shrink. Between £100,000 and £125,140, the effective tax rate climbs to 60%, but smart planning can help. If you earn over £100,000 The post When do the higher rates of Income Tax apply appeared first on Feldon Accountancy. Thu, 19 Jun 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/06/when-do-the-higher-rates-of-income-tax-apply thumbnail https://www.feldonaccountancy.co.uk/2025/06/who-must-send-in-a-tax-return From self-employment to rental income, there are many reasons you may need to file a Self-Assessment return. Know the triggers and register with HMRC by 5 October if this is your first time. There The post Who must send in a tax return appeared first on Feldon Accountancy. Thu, 19 Jun 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/06/who-must-send-in-a-tax-return thumbnail https://www.feldonaccountancy.co.uk/2025/06/tax-rules-for-savings-interest You could earn up to £18,570 in tax-free savings interest in 2025-26, thanks to the personal allowance, starting rate for savings, and the Personal Savings Allowance. If your taxable income for the The post Tax rules for savings interest appeared first on Feldon Accountancy. Thu, 19 Jun 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/06/tax-rules-for-savings-interest thumbnail https://www.feldonaccountancy.co.uk/2025/06/vat-annual-accounting Streamline your VAT reporting with fewer returns and smoother cash flow. The Annual Accounting Scheme makes VAT easier to manage for eligible small businesses. The VAT Annual Accounting Scheme is The post VAT Annual Accounting appeared first on Feldon Accountancy. Thu, 19 Jun 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/06/vat-annual-accounting thumbnail https://www.feldonaccountancy.co.uk/2025/06/effects-of-rachel-reeves-spending-review Chancellor Rachel Reeves delivered her first Spending Review to Parliament last week, setting out the government’s financial priorities for the next three years. Her approach signals a shift away from The post Effects of Rachel Reeves’ Spending Review appeared first on Feldon Accountancy. Mon, 16 Jun 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/06/effects-of-rachel-reeves-spending-review thumbnail https://www.feldonaccountancy.co.uk/2025/06/bt-eyes-deeper-job-cuts-as-ai-reshapes-telecoms BT has announced that it may exceed its previously stated target of cutting 40,000 jobs by 2030, as artificial intelligence (AI) becomes more central to its operations. The move comes as the company The post BT Eyes Deeper Job Cuts as AI Reshapes Telecoms appeared first on Feldon Accountancy. Mon, 16 Jun 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/06/bt-eyes-deeper-job-cuts-as-ai-reshapes-telecoms thumbnail https://www.feldonaccountancy.co.uk/2025/06/new-requirement-verifying-id-at-companies-house Identity verification is now rolling out for directors, PSCs, and agents, with more filing roles to be included soon under new anti-fraud rules. Companies House is beginning to roll out mandatory The post New requirement – verifying ID at Companies House appeared first on Feldon Accountancy. Thu, 12 Jun 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/06/new-requirement-verifying-id-at-companies-house thumbnail https://www.feldonaccountancy.co.uk/2025/06/business-asset-disposal-relief-forthcoming-changes The BADR Capital Gains Tax rate has risen to 14% from April 2025 and will increase further to 18% in April 2026. Business Asset Disposal Relief (BADR) offers a valuable tax advantage by applying a The post Business Asset Disposal Relief – forthcoming changes appeared first on Feldon Accountancy. Thu, 12 Jun 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/06/business-asset-disposal-relief-forthcoming-changes thumbnail https://www.feldonaccountancy.co.uk/2025/06/private-residence-relief-when-it-applies Selling your main residence? Private Residence Relief can exempt you from Capital Gains Tax. If you meet certain conditions, there may be nothing to pay. In most cases, Capital Gains Tax (CGT) does The post Private Residence Relief – when it applies appeared first on Feldon Accountancy. Thu, 12 Jun 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/06/private-residence-relief-when-it-applies thumbnail https://www.feldonaccountancy.co.uk/2025/06/claim-for-a-business-journey-in-a-private-vehicle Use your own vehicle for work? You could be entitled to a tax-free mileage allowance. Make sure you are not missing out on HMRC-approved rates. If you use your own car, van, motorcycle, or bicycle The post Claim for a business journey in a private vehicle appeared first on Feldon Accountancy. Thu, 12 Jun 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/06/claim-for-a-business-journey-in-a-private-vehicle thumbnail https://www.feldonaccountancy.co.uk/2025/06/do-not-forget-to-claim-the-marriage-allowance If one partner in a marriage or civil partnership earns under £12,570, you could save up to £252 a year, and up to £1,260 if you backdate your Marriage Allowance claim for the past four years. The The post Do not forget to claim the marriage allowance appeared first on Feldon Accountancy. Thu, 12 Jun 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/06/do-not-forget-to-claim-the-marriage-allowance thumbnail https://www.feldonaccountancy.co.uk/2025/06/current-iht-gift-reliefs Lifetime gifts can reduce Inheritance Tax, but survival for seven years and using key exemptions like the £3,000 annual allowance are crucial to making them fully tax-free. Most gifts made during a The post Current IHT gift reliefs appeared first on Feldon Accountancy. Thu, 12 Jun 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/06/current-iht-gift-reliefs thumbnail https://www.feldonaccountancy.co.uk/2025/06/when-changing-a-companys-name-absolves-a-daughter-company-of-its-obligations The Court of Appeal addressed the complexities of benefit scheme amendments and the lines of responsibility within corporate structures in a complex case surrounding post-employment entitlements. A The post When changing a company’s name absolves a daughter company of its obligations appeared first on Feldon Accountancy. Wed, 11 Jun 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/06/when-changing-a-companys-name-absolves-a-daughter-company-of-its-obligations thumbnail https://www.feldonaccountancy.co.uk/2025/06/the-value-of-tax-planning-for-high-net-worth-individuals For high net worth individuals (HNWIs), tax planning is not simply a compliance activity, it is a strategic tool to preserve and grow wealth. With rising scrutiny from HMRC, frozen allowances, and The post The value of tax planning for high net worth individuals appeared first on Feldon Accountancy. Mon, 09 Jun 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/06/the-value-of-tax-planning-for-high-net-worth-individuals thumbnail https://www.feldonaccountancy.co.uk/2025/06/four-critically-important-kpis Gross profit margin This measures the profitability of your core operations by comparing gross profit (sales minus cost of goods sold) to total revenue. A stable or improving gross margin indicates The post Four critically important KPIs appeared first on Feldon Accountancy. Mon, 09 Jun 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/06/four-critically-important-kpis thumbnail https://www.feldonaccountancy.co.uk/2025/06/tax-diary-july-august-2025 1 July 2025 - Due date for corporation tax due for the year ended 30 September 2024. 6 July 2025 - Complete and submit forms P11D return of benefits and expenses and P11D(b) return of Class 1A The post Tax Diary July/August 2025 appeared first on Feldon Accountancy. Fri, 06 Jun 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/06/tax-diary-july-august-2025 thumbnail https://www.feldonaccountancy.co.uk/2025/06/claiming-tax-relief-on-pension-contributions Private pension contributions can attract up to 45% tax relief, if you know how to claim it. Use your £60,000 annual allowance wisely and carry forward unused relief from past years to boost your The post Claiming tax relief on pension contributions appeared first on Feldon Accountancy. Thu, 05 Jun 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/06/claiming-tax-relief-on-pension-contributions thumbnail https://www.feldonaccountancy.co.uk/2025/06/tax-write-offs-for-an-electric-car-with-zero-emissions Buying a zero-emission electric car through your limited company could mean 100% tax relief in year one. Understand the capital allowances and boost your business’s tax efficiency with smart vehicle The post Tax write-offs for an electric car with zero emissions appeared first on Feldon Accountancy. Thu, 05 Jun 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/06/tax-write-offs-for-an-electric-car-with-zero-emissions thumbnail https://www.feldonaccountancy.co.uk/2025/06/vat-advantages-of-the-vat-flat-rate-scheme Small business? The VAT Flat Rate Scheme could cut paperwork and improve cash flow. Pay VAT as a set percentage of turnover and enjoy simpler admin, budgeting ease, and even a 1% discount in year one The post VAT – advantages of the VAT Flat Rate Scheme appeared first on Feldon Accountancy. Thu, 05 Jun 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/06/vat-advantages-of-the-vat-flat-rate-scheme thumbnail https://www.feldonaccountancy.co.uk/2025/06/vat-exempt-supplies Not all VAT-free sales are the same. Understanding the key difference between zero-rated and VAT-exempt supplies could save your business money and prevent costly VAT mistakes. It's important to The post VAT exempt supplies appeared first on Feldon Accountancy. Thu, 05 Jun 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/06/vat-exempt-supplies thumbnail https://www.feldonaccountancy.co.uk/2025/06/can-you-reduce-your-31-july-tax-payment-on-account Expecting lower profits 2024-25 compared to 2023-24? You can ask HMRC to reduce your 31 July 25 tax payment on account. Act early to manage cash flow. Use your online account or we can handle it for The post Can you reduce your 31 July tax payment on account appeared first on Feldon Accountancy. Thu, 05 Jun 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/06/can-you-reduce-your-31-july-tax-payment-on-account thumbnail https://www.feldonaccountancy.co.uk/2025/06/iht-exemption-normal-expenditure-out-of-income Make regular gifts from your income and avoid inheritance tax. If structured properly, surplus income gifts can support loved ones and stay outside your estate without the seven-year survival The post IHT exemption – normal expenditure out of income appeared first on Feldon Accountancy. Thu, 05 Jun 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/06/iht-exemption-normal-expenditure-out-of-income thumbnail https://www.feldonaccountancy.co.uk/2025/06/government-sells-last-nat-west-shares The UK government has officially concluded its involvement with NatWest Group, formerly known as the Royal Bank of Scotland (RBS), by selling its remaining shares. This move ends nearly 17 years of The post Government sells last Nat West shares appeared first on Feldon Accountancy. Tue, 03 Jun 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/06/government-sells-last-nat-west-shares thumbnail https://www.feldonaccountancy.co.uk/2025/06/how-working-capital-is-funded Working capital refers to the day-to-day funds a business uses to manage its operations. It is the difference between current assets (such as cash, stock, and trade debtors) and current liabilities The post How working capital is funded appeared first on Feldon Accountancy. Tue, 03 Jun 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/06/how-working-capital-is-funded thumbnail https://www.feldonaccountancy.co.uk/2025/05/employers-dont-forget-to-pay-class-1a-nic Employers must pay Class 1A NICs for 2024-25 benefits by 19 July (post) or 22 July (electronic). These apply to perks like company cars and private health cover—late payment risks penalties from The post Employers, don’t forget to pay Class 1A NIC appeared first on Feldon Accountancy. Thu, 29 May 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/05/employers-dont-forget-to-pay-class-1a-nic thumbnail https://www.feldonaccountancy.co.uk/2025/05/rolling-over-capital-gains Business Asset Rollover Relief, allows taxpayers to defer Capital Gains Tax (CGT) on gains arising from the sale or disposal of certain business assets, provided the proceeds are reinvested into new The post Rolling Over Capital Gains appeared first on Feldon Accountancy. Thu, 29 May 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/05/rolling-over-capital-gains thumbnail https://www.feldonaccountancy.co.uk/2025/05/what-is-a-fig From 6 April 2025, non-doms face a major shift as the remittance basis is replaced by the Foreign Income and Gains (FIG) regime, now determined by UK tax residence, not domicile. Reporting obligations The post What is a FIG? appeared first on Feldon Accountancy. Thu, 29 May 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/05/what-is-a-fig thumbnail https://www.feldonaccountancy.co.uk/2025/05/employing-your-family Employing family members can work well, but it does not mean you can skip the rules. HMRC expects full compliance on pay, tax, pensions, and working conditions—just as with any other The post Employing your family appeared first on Feldon Accountancy. Thu, 29 May 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/05/employing-your-family thumbnail https://www.feldonaccountancy.co.uk/2025/05/repay-private-fuel-provided-for-company-cars Employees using company fuel for private journeys can sidestep a hefty benefit charge by repaying the full private fuel cost to their employer by 6 July 2025. Miss the deadline, and tax becomes The post Repay private fuel provided for company cars appeared first on Feldon Accountancy. Thu, 29 May 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/05/repay-private-fuel-provided-for-company-cars thumbnail https://www.feldonaccountancy.co.uk/2025/05/company-changes-you-must-report Certain company changes—like a new registered address, email, or director—must be reported to Companies House promptly. Failure to update records risks penalties and non-compliance with UK The post Company changes you must report appeared first on Feldon Accountancy. Thu, 29 May 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/05/company-changes-you-must-report thumbnail https://www.feldonaccountancy.co.uk/2025/05/top-10-skills-every-business-owner-should-acquire Running a business involves wearing many hats. Whether you are just starting out or looking to grow, developing the right skills can make all the difference. Here are ten practical skills that will The post Top 10 skills every business owner should acquire appeared first on Feldon Accountancy. Tue, 27 May 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/05/top-10-skills-every-business-owner-should-acquire thumbnail https://www.feldonaccountancy.co.uk/2025/05/a-return-to-gender-rationality-in-the-office-what-does-the-supreme-court-ruling-mean-for-trans-people-in-the-workplace In a landmark ruling, the Supreme Court clarified the legal interpretation of the words ‘sex’, ‘woman’ and ‘man’ in Sections 11 and 212(1) of the Equality Act (EA) 2010 with respect to gender The post A return to gender rationality in the office? What does the Supreme Court ruling mean for trans people in the workplace? appeared first on Feldon Accountancy. Tue, 27 May 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/05/a-return-to-gender-rationality-in-the-office-what-does-the-supreme-court-ruling-mean-for-trans-people-in-the-workplace thumbnail https://www.feldonaccountancy.co.uk/2025/05/buying-a-business-a-simple-due-diligence-checklist Before you agree to buy a business, it is essential to carry out due diligence. This means carefully checking the facts and risks so that you can make an informed decision. Here is a basic checklist The post Buying a business – a simple due diligence checklist appeared first on Feldon Accountancy. Tue, 27 May 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/05/buying-a-business-a-simple-due-diligence-checklist thumbnail https://www.feldonaccountancy.co.uk/2025/05/pension-tax-free-lump-sums Turning 55 soon? From April 2028, the minimum pension access age rises to 57. If you are planning to draw your pension, you could take up to 25% tax-free. Make informed choices about your remaining The post Pension tax-free lump sums appeared first on Feldon Accountancy. Thu, 22 May 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/05/pension-tax-free-lump-sums thumbnail https://www.feldonaccountancy.co.uk/2025/05/deferring-gains-using-incorporation-relief Thinking of transferring your sole trader or partnership business into a limited company? Incorporation Relief can help defer any capital gains tax on assets like goodwill. If the entire business is The post Deferring gains using Incorporation Relief appeared first on Feldon Accountancy. Thu, 22 May 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/05/deferring-gains-using-incorporation-relief thumbnail https://www.feldonaccountancy.co.uk/2025/05/changes-to-tax-status-of-non-uk-domiciles From 6 April 2025, the remittance basis for non-doms is abolished. A new UK tax regime now applies to non-domiciled individuals, focused solely on residence. New arrivals can benefit from a 4-year The post Changes to tax status of non-UK domiciles appeared first on Feldon Accountancy. Thu, 22 May 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/05/changes-to-tax-status-of-non-uk-domiciles thumbnail https://www.feldonaccountancy.co.uk/2025/05/how-should-multiple-self-employed-incomes-be-treated Running more than one self-employed business? HMRC will not always treat them as separate. Whether they are taxed as one combined trade or multiple depends on how your activities relate to each other. The post How should multiple self-employed incomes be treated appeared first on Feldon Accountancy. Thu, 22 May 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/05/how-should-multiple-self-employed-incomes-be-treated thumbnail https://www.feldonaccountancy.co.uk/2025/05/could-you-extend-child-benefit-claim Parents of 16-19-year-olds: confirm your child’s continued education or training by 31 August 2025 to keep Child Benefit payments going. Last year, over 870,000 families updated HMRC, most online. It The post Could you extend Child Benefit claim? appeared first on Feldon Accountancy. Thu, 22 May 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/05/could-you-extend-child-benefit-claim thumbnail https://www.feldonaccountancy.co.uk/2025/05/changes-to-iht-from-april-2025 From April 2025, Agricultural Property Relief from Inheritance Tax now extends to land under qualifying environmental agreements. This means landowners entering long-term stewardship schemes will not The post Changes to IHT from April 2025 appeared first on Feldon Accountancy. Thu, 22 May 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/05/changes-to-iht-from-april-2025 thumbnail https://www.feldonaccountancy.co.uk/2025/05/the-value-of-applying-for-trade-marks A trade mark is a vital tool for protecting the identity and reputation of your business. It can take the form of a name, logo, slogan, shape, or even a sound, and once registered, gives you exclusive The post The value of applying for trade marks appeared first on Feldon Accountancy. Mon, 19 May 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/05/the-value-of-applying-for-trade-marks thumbnail https://www.feldonaccountancy.co.uk/2025/05/the-legal-responsibilities-of-directors When someone agrees to become a director of a UK limited company, they take on a set of legal responsibilities defined under the Companies Act 2006 and other relevant legislation. These duties are not The post The legal responsibilities of directors appeared first on Feldon Accountancy. Mon, 19 May 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/05/the-legal-responsibilities-of-directors thumbnail https://www.feldonaccountancy.co.uk/2025/05/the-transition-from-fhl-to-property-rental-business Tax perks for Furnished Holiday Lets have ended. From April 2025, lettings fall under standard rental rules. Check the transition rules to avoid surprises. The tax advantages that were previously The post The transition from FHL to Property Rental business appeared first on Feldon Accountancy. Thu, 15 May 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/05/the-transition-from-fhl-to-property-rental-business thumbnail https://www.feldonaccountancy.co.uk/2025/05/save-up-to-2000-a-year-on-childcare-costs Is your child starting school this September? Tax-Free Childcare could save you up to £2,000 a year. Check your eligibility now and start planning ahead. Working families whose children are starting The post Save up to £2,000 a year on childcare costs appeared first on Feldon Accountancy. Thu, 15 May 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/05/save-up-to-2000-a-year-on-childcare-costs thumbnail https://www.feldonaccountancy.co.uk/2025/05/when-can-you-deregister-for-vat Considering VAT deregistration? Whether compulsory or voluntary, knowing the rules, deadlines and risks of delay can save your business from costly penalties. The decision to deregister for VAT may The post When can you deregister for VAT? appeared first on Feldon Accountancy. Thu, 15 May 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/05/when-can-you-deregister-for-vat thumbnail https://www.feldonaccountancy.co.uk/2025/05/hmrc-interest-rates-following-bank-of-england-rate-cut Following a Bank Rate cut to 4.25%, HMRC late payment and repayment interest rates will drop from 19 and 28 May 2025. Check which taxes this affects. The Bank of England’s Monetary Policy Committee The post HMRC interest rates following Bank of England rate cut appeared first on Feldon Accountancy. Thu, 15 May 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/05/hmrc-interest-rates-following-bank-of-england-rate-cut thumbnail https://www.feldonaccountancy.co.uk/2025/05/the-importance-of-discretion-dont-send-inappropriate-messages-during-working-hours An Employment Tribunal confirmed that using an employer's preferred method of communicating with employees to send offensive messages can serve as a ground for dismissal. A claimant was employed from The post The importance of discretion – don’t send inappropriate messages during working hours! appeared first on Feldon Accountancy. Thu, 15 May 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/05/the-importance-of-discretion-dont-send-inappropriate-messages-during-working-hours thumbnail https://www.feldonaccountancy.co.uk/2025/05/mtd-for-income-tax-deadline-is-approaching MTD for Income Tax starts 6 April 2026 for the self-employed and landlords with £50k+ income. Plan early to stay compliant and avoid disruption. MTD represents one of the most significant overhauls The post MTD for Income Tax deadline is approaching appeared first on Feldon Accountancy. Thu, 15 May 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/05/mtd-for-income-tax-deadline-is-approaching thumbnail https://www.feldonaccountancy.co.uk/2025/05/why-filing-early-makes-sense Filing your 2024-25 Self-Assessment return early means faster refunds, better budgeting, and no deadline stress. Do not delay, start gathering your tax details today. The 2024-25 tax year officially The post Why filing early makes sense appeared first on Feldon Accountancy. Thu, 15 May 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/05/why-filing-early-makes-sense thumbnail https://www.feldonaccountancy.co.uk/2025/05/deadline-for-paying-class-1a-nic Employers must pay Class 1A NICs on 2024-25 benefits by 19 July (22 July if paying electronically). Avoid penalties by meeting deadlines and using correct references. Employers are reminded of the The post Deadline for paying Class 1A NIC appeared first on Feldon Accountancy. Thu, 15 May 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/05/deadline-for-paying-class-1a-nic thumbnail https://www.feldonaccountancy.co.uk/2025/05/landmark-economic-deal-with-united-states On 8 May 2025, the UK government announced a landmark trade agreement with the United States, aimed at reducing tariffs and bolstering key British industries. This deal is projected to save thousands The post Landmark economic deal with United States appeared first on Feldon Accountancy. Mon, 12 May 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/05/landmark-economic-deal-with-united-states thumbnail https://www.feldonaccountancy.co.uk/2025/05/still-recording-your-accounts-on-spreadsheets For small and medium-sized enterprises (SMEs), adopting accounting software offers a range of practical benefits that help streamline financial management, reduce errors, and improve decision-making. The post Still recording your accounts on spreadsheets? appeared first on Feldon Accountancy. Mon, 12 May 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/05/still-recording-your-accounts-on-spreadsheets thumbnail https://www.feldonaccountancy.co.uk/2025/05/changes-to-vat-on-donations-to-charities The government is consulting on new VAT relief for goods donated to charities for free use. Could this fix an unfair gap in current rules? Have your say by 21 July 2025. A new joint consultation from The post Changes to VAT on donations to charities appeared first on Feldon Accountancy. Thu, 08 May 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/05/changes-to-vat-on-donations-to-charities thumbnail https://www.feldonaccountancy.co.uk/2025/05/reversal-of-requirement-to-report-more-detailed-employee-hours-paid The government has scrapped plans for detailed PAYE reporting of employee hours from April 2026, citing concerns over cost, complexity, and practicality. Employers will stick with current rules. As The post Reversal of requirement to report more detailed employee hours paid appeared first on Feldon Accountancy. Thu, 08 May 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/05/reversal-of-requirement-to-report-more-detailed-employee-hours-paid thumbnail https://www.feldonaccountancy.co.uk/2025/05/electronic-invoicing-consultation The government wants your say on e-invoicing. Quicker payments, fewer errors, and better VAT reporting are on the table. A 12-week consultation could shape the future. HMRC and the Department for The post Electronic invoicing consultation appeared first on Feldon Accountancy. Thu, 08 May 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/05/electronic-invoicing-consultation thumbnail https://www.feldonaccountancy.co.uk/2025/05/how-to-check-employment-status HMRC’s CEST tool gets a revamp from 30 April 2025, with clearer questions and updated guidance to help users decide employment status for tax—plus stronger backing from HMRC. In a Written The post How to check employment status appeared first on Feldon Accountancy. Thu, 08 May 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/05/how-to-check-employment-status thumbnail https://www.feldonaccountancy.co.uk/2025/05/income-reporting-threshold-increased The £3,000 reporting threshold for trading, property, and other income will simplify tax returns—300,000 people could be freed from filing. A digital alternative is also coming. As part of the The post Income reporting threshold increased appeared first on Feldon Accountancy. Thu, 08 May 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/05/income-reporting-threshold-increased thumbnail https://www.feldonaccountancy.co.uk/2025/05/mandating-the-payrolling-of-benefits-in-kind-update HMRC has delayed mandatory payrolling of benefits in kind by a year to April 2027, giving employers and software providers more time to prepare. Penalties will be eased in the first year. The The post Mandating the Payrolling of benefits in kind update appeared first on Feldon Accountancy. Thu, 08 May 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/05/mandating-the-payrolling-of-benefits-in-kind-update thumbnail https://www.feldonaccountancy.co.uk/2025/05/how-to-increase-gross-profit-returns Gross profit is one of the clearest indicators of how well your business is performing. It’s the money left after deducting the direct costs of producing goods or services from your turnover. If your The post How to Increase Gross Profit Returns appeared first on Feldon Accountancy. Wed, 07 May 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/05/how-to-increase-gross-profit-returns thumbnail https://www.feldonaccountancy.co.uk/2025/05/fresh-ideas-for-additional-revenue-streams For many small and medium-sized enterprises (SMEs), the core business keeps the lights on, but additional income streams can provide much-needed stability and growth. Whether you're a service The post Fresh Ideas for Additional Revenue Streams appeared first on Feldon Accountancy. Wed, 07 May 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/05/fresh-ideas-for-additional-revenue-streams thumbnail https://www.feldonaccountancy.co.uk/2025/05/tax-diary-june-july-2025 1 June 2025 - Due date for corporation tax due for the year ended 31 August 2024. 19 June 2025 - PAYE and NIC deductions due for month ended 5 June 2025. (If you pay your tax electronically the due The post Tax Diary June/July 2025 appeared first on Feldon Accountancy. Fri, 02 May 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/05/tax-diary-june-july-2025 thumbnail https://www.feldonaccountancy.co.uk/2025/05/tax-treatment-of-income-after-cessation After a business closes, income can still arise. Post-cessation receipts must be properly reported and taxed under specific rules. Knowing what qualifies — and what does not — ensures The post Tax treatment of income after cessation appeared first on Feldon Accountancy. Thu, 01 May 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/05/tax-treatment-of-income-after-cessation thumbnail https://www.feldonaccountancy.co.uk/2025/05/definition-of-rd-for-tax-purposes When claiming tax relief or capital allowances on R&D, it’s crucial to ensure activities meet strict statutory definitions. Understanding Section 437 ITA and DTI guidelines is key to securing The post Definition of R&D for tax purposes appeared first on Feldon Accountancy. Thu, 01 May 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/05/definition-of-rd-for-tax-purposes thumbnail https://www.feldonaccountancy.co.uk/2025/05/tax-refunds-for-dissolved-companies Dissolving a company ends its legal existence — but unresolved assets become property of the Crown under bona vacantia. Directors must act carefully to settle assets and liabilities before The post Tax refunds for dissolved companies appeared first on Feldon Accountancy. Thu, 01 May 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/05/tax-refunds-for-dissolved-companies thumbnail https://www.feldonaccountancy.co.uk/2025/05/tax-relief-if-required-to-work-from-home If employees must work from home and their employer does not reimburse certain costs, they may be entitled to claim tax relief. Understanding the rules for household expenses, business travel, and The post Tax relief if required to work from home appeared first on Feldon Accountancy. Thu, 01 May 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/05/tax-relief-if-required-to-work-from-home thumbnail https://www.feldonaccountancy.co.uk/2025/05/is-income-from-hobbies-taxable Not every money-making hobby counts as a business for tax purposes. Knowing when a hobby crosses into trading territory is vital to avoid unexpected tax bills. If your side project is growing, it The post Is income from hobbies taxable? appeared first on Feldon Accountancy. Thu, 01 May 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/05/is-income-from-hobbies-taxable thumbnail https://www.feldonaccountancy.co.uk/2025/05/state-benefits-what-is-taxable-and-what-is-not Not all state benefits are tax-free! Some, like the State Pension and Carer’s Allowance, are taxable, while others, like PIP and Universal Credit, are not. Knowing the difference can help you stay on The post State Benefits – What is taxable and what is not appeared first on Feldon Accountancy. Thu, 01 May 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/05/state-benefits-what-is-taxable-and-what-is-not thumbnail https://www.feldonaccountancy.co.uk/2025/04/cybersecurity Cybersecurity might sound like something only big corporations need to worry about, but in truth, small businesses are increasingly in the firing line. In fact, many cyber criminals deliberately The post Cybersecurity appeared first on Feldon Accountancy. Mon, 28 Apr 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/04/cybersecurity thumbnail https://www.feldonaccountancy.co.uk/2025/04/access-to-funding-and-credit For many small business owners, getting access to funding feels like trying to squeeze water from a stone. Traditional banks have always been a bit cautious when it comes to lending to smaller The post Access to Funding and Credit appeared first on Feldon Accountancy. Mon, 28 Apr 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/04/access-to-funding-and-credit thumbnail https://www.feldonaccountancy.co.uk/2025/04/vat-road-fuel-scale-charges The new VAT road fuel scale charges applicable from 1 May 2025 to 30 April 2026 have been published. The changes amend the VAT scale charges for taxing private use of road fuel to reflect changes in The post VAT Road Fuel Scale Charges appeared first on Feldon Accountancy. Thu, 24 Apr 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/04/vat-road-fuel-scale-charges thumbnail https://www.feldonaccountancy.co.uk/2025/04/have-you-set-up-your-personal-tax-account-yet Skip the phone queues. Your Personal Tax Account lets you manage everything from tax codes to refunds online. Quick, secure, and all in one place. If you haven’t signed up yet, now’s the time. Your The post Have you set up your Personal Tax Account yet? appeared first on Feldon Accountancy. Thu, 24 Apr 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/04/have-you-set-up-your-personal-tax-account-yet thumbnail https://www.feldonaccountancy.co.uk/2025/04/repeal-of-furnished-holiday-lets-regime From April 2025, holiday lets lose their special tax treatment. Landlords must prepare for new Income, Capital Gains, and Corporation Tax rules. Here's what’s changing. The repeal of the Furnished The post Repeal of furnished holiday lets regime appeared first on Feldon Accountancy. Thu, 24 Apr 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/04/repeal-of-furnished-holiday-lets-regime thumbnail https://www.feldonaccountancy.co.uk/2025/04/more-in-line-for-savings-boost From April 2025, more low-income workers on Universal Credit can join Help to Save. Save up to £50/month and get a 50% bonus - up to £1,200 over 4 years. A simple way to build your savings. The The post More in line for savings boost appeared first on Feldon Accountancy. Thu, 24 Apr 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/04/more-in-line-for-savings-boost thumbnail https://www.feldonaccountancy.co.uk/2025/04/less-than-a-year-before-mtd-for-income-tax-starts MTD for Income Tax kicks off in April 2026 for those earning over £50k. Digital records, quarterly updates, and tougher penalties are on the way. If this affects you, it’s time to get ready. Designed The post Less than a year before MTD for Income Tax starts appeared first on Feldon Accountancy. Thu, 24 Apr 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/04/less-than-a-year-before-mtd-for-income-tax-starts thumbnail https://www.feldonaccountancy.co.uk/2025/04/reminder-of-employer-nic-changes-from-april-25 A reminder that increases to the rate of National Insurance contributions (NICs) that are paid by employers came into effect on 6 April 2025. The main rate of secondary Class 1 NICs has increased to The post Reminder of Employer NIC changes from April 25 appeared first on Feldon Accountancy. Thu, 24 Apr 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/04/reminder-of-employer-nic-changes-from-april-25 thumbnail https://www.feldonaccountancy.co.uk/2025/04/the-innocent-touch-where-a-lack-of-clear-guidelines-and-policies-makes-a-dismissal-more-likely-to-be-unfair A school inspector dismissed for brushing water off a pupil’s head won his unfair dismissal claim against OFSTED. Mr. Hewston worked as a Social Care Regulatory Inspector and, on the 8th of October The post The innocent touch – where a lack of clear guidelines and policies makes a dismissal more likely to be unfair appeared first on Feldon Accountancy. Wed, 23 Apr 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/04/the-innocent-touch-where-a-lack-of-clear-guidelines-and-policies-makes-a-dismissal-more-likely-to-be-unfair thumbnail https://www.feldonaccountancy.co.uk/2025/04/understanding-vat-bad-debt-relief Struggling with unpaid invoices? If you've paid VAT to HMRC but never received payment from your customer, you may be able to reclaim that VAT. Learn how bad debt relief works and whether switching to The post Understanding VAT Bad Debt Relief appeared first on Feldon Accountancy. Wed, 16 Apr 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/04/understanding-vat-bad-debt-relief thumbnail https://www.feldonaccountancy.co.uk/2025/04/tax-and-employee-suggestion-schemes Have you set up a suggestion scheme for ideas that could save or earn you money? Employee suggestion schemes can offer up to £5,000 tax-free for valuable input — and even £25 for smaller The post Tax and employee suggestion schemes appeared first on Feldon Accountancy. Wed, 16 Apr 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/04/tax-and-employee-suggestion-schemes thumbnail https://www.feldonaccountancy.co.uk/2025/04/statutory-redundancy-rights Redundant? You could receive up to £30,000 tax-free, whether it’s statutory pay or a better deal from your employer. Know your rights, check the 2025-26 limits, and understand how your age and service The post Statutory Redundancy rights appeared first on Feldon Accountancy. Wed, 16 Apr 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/04/statutory-redundancy-rights thumbnail https://www.feldonaccountancy.co.uk/2025/04/still-time-to-repay-private-fuel-costs-and-avoid-tax-charge Use a company car for personal trips? Avoid a hefty tax charge by reimbursing your employer for private fuel by 6 July 2025. It’s called “making good” - and it could save you a chunk in The post Still time to repay private fuel costs and avoid tax charge appeared first on Feldon Accountancy. Wed, 16 Apr 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/04/still-time-to-repay-private-fuel-costs-and-avoid-tax-charge thumbnail https://www.feldonaccountancy.co.uk/2025/04/tax-relief-for-landlords-replacing-domestic-items Swapped an old fridge or carpet in your rental property? Landlords can claim tax relief on replacing domestic items - but not if it's an upgrade! Know the rules and save money by claiming what you are The post Tax relief for landlords replacing domestic items appeared first on Feldon Accountancy. Wed, 16 Apr 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/04/tax-relief-for-landlords-replacing-domestic-items thumbnail https://www.feldonaccountancy.co.uk/2025/04/higher-rate-tax-relief-on-pension-contributions Want to make the most of your pension savings? You could claim up to 45% tax relief on contributions, plus carry forward unused allowances. Here’s how to boost your retirement pot with generous HMRC The post Higher rate tax relief on pension contributions appeared first on Feldon Accountancy. Wed, 16 Apr 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/04/higher-rate-tax-relief-on-pension-contributions thumbnail https://www.feldonaccountancy.co.uk/2025/04/uk-responds-to-new-us-tariffs The UK’s Business and Trade Secretary, Jonathan Reynolds, has set out the government's position following the United States' recent imposition of new tariffs on UK exports. These include a 10% The post UK Responds to New US Tariffs appeared first on Feldon Accountancy. Mon, 14 Apr 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/04/uk-responds-to-new-us-tariffs thumbnail https://www.feldonaccountancy.co.uk/2025/04/13-9bn-of-rd-funding The UK government has announced a record-breaking £13.9 billion in research and development (R&D) funding for the coming year. This major investment is designed to drive innovation, create quality The post £13.9bn of R&D funding appeared first on Feldon Accountancy. Mon, 14 Apr 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/04/13-9bn-of-rd-funding thumbnail https://www.feldonaccountancy.co.uk/2025/04/frozen-tax-allowances-and-fiscal-drag Tax thresholds frozen till 2028? That’s fiscal drag in action - more tax paid without rate rises. It’s a stealthy revenue boost for HM Treasury, projected to bring in £38bn a year by 2029. Inflation The post Frozen tax allowances and fiscal drag appeared first on Feldon Accountancy. Thu, 10 Apr 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/04/frozen-tax-allowances-and-fiscal-drag thumbnail https://www.feldonaccountancy.co.uk/2025/04/make-the-most-of-trivial-benefit-payments-2025-26 Small gifts can mean big tax savings! Use the trivial benefits exemption in 2025-26 to reward employees with non-cash perks under £50 - no PAYE, no P11D, and no NIC. A smart, simple way to say The post Make the most of trivial benefit payments 2025-26 appeared first on Feldon Accountancy. Thu, 10 Apr 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/04/make-the-most-of-trivial-benefit-payments-2025-26 thumbnail https://www.feldonaccountancy.co.uk/2025/04/dont-forget-to-update-your-nmw-and-nlw-wage-rates Minimum wage rates rose on 1 April 2025. NLW now £12.21, and big increases for younger workers too. Make sure you're compliant - underpayment can cost up to £20K per worker and a director ban. Time to The post Don’t forget to update your NMW and NLW wage rates appeared first on Feldon Accountancy. Thu, 10 Apr 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/04/dont-forget-to-update-your-nmw-and-nlw-wage-rates thumbnail https://www.feldonaccountancy.co.uk/2025/04/employment-restrictions-after-termination-be-cautious Kau Media Group (KMG) Ltd. sought to enforce two post-termination employment restriction (PTRs) contained in a contract of employment to restrict Mr. Hart, a former employee, from working for his The post Employment Restrictions After Termination: Be Cautious appeared first on Feldon Accountancy. Thu, 10 Apr 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/04/employment-restrictions-after-termination-be-cautious thumbnail https://www.feldonaccountancy.co.uk/2025/04/tax-diary-may-june-2025 1 May 2025 - Due date for corporation tax due for the year ended 30 July 2024. 19 May 2025 - PAYE and NIC deductions due for month ended 5 May 2025. (If you pay your tax electronically the due date The post Tax Diary May/June 2025 appeared first on Feldon Accountancy. Thu, 10 Apr 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/04/tax-diary-may-june-2025 thumbnail https://www.feldonaccountancy.co.uk/2025/04/child-benefit-increases-april-2025 Child Benefit has risen for 2025-26: £26.05 for eldest, £17.25 for others. Claim continues to age 20 in approved education. HICBC still applies for incomes over £60K - but PAYE option coming this The post Child Benefit increases April 2025 appeared first on Feldon Accountancy. Thu, 10 Apr 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/04/child-benefit-increases-april-2025 thumbnail https://www.feldonaccountancy.co.uk/2025/04/checking-your-tax-code-for-2025-26 Do you know what your 2025-26 tax code means? It affects how much tax is taken from your pay or pension. Check now to make sure you're on the right code and not overpaying! Here's what the letters and The post Checking your tax code for 2025-26 appeared first on Feldon Accountancy. Thu, 10 Apr 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/04/checking-your-tax-code-for-2025-26 thumbnail https://www.feldonaccountancy.co.uk/2025/04/filing-ated-return-april-2025 From April 2025, updated ATED rates apply to residential properties held by companies and other Non-Natural Persons (NNPs). Make sure returns and payments are submitted by 30 April to avoid penalties. The post Filing ATED return April 2025 appeared first on Feldon Accountancy. Thu, 10 Apr 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/04/filing-ated-return-april-2025 thumbnail https://www.feldonaccountancy.co.uk/2025/04/managing-gross-profit-returns Gross profit is one of the clearest indicators of how well your business is performing. It’s the amount left after deducting the cost of goods sold (COGS) from your sales revenue. Managing your gross The post Managing gross profit returns appeared first on Feldon Accountancy. Mon, 07 Apr 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/04/managing-gross-profit-returns thumbnail https://www.feldonaccountancy.co.uk/2025/04/dealing-with-supply-line-interruptions Supply line interruptions can be a nightmare for any business. Whether it’s a delay in deliveries, a shortage of materials, or problems with international shipping, things can grind to a halt fast. The post Dealing with supply line interruptions appeared first on Feldon Accountancy. Mon, 07 Apr 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/04/dealing-with-supply-line-interruptions thumbnail https://www.feldonaccountancy.co.uk/2025/04/business-asset-disposal-relief-rates-from-april-2025 Business Asset Disposal Relief (BADR) provides a reduced Capital Gains Tax (CGT) rate on the sale of a business, shares in a trading company, or an individual's interest in a trading partnership. This The post Business Asset Disposal Relief rates from April 2025 appeared first on Feldon Accountancy. Thu, 03 Apr 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/04/business-asset-disposal-relief-rates-from-april-2025 thumbnail https://www.feldonaccountancy.co.uk/2025/04/registering-informal-money-transfer-businesses HMRC has launched a campaign targeting informal money transfer networks like Hawala, aiming to combat money laundering and protect communities. Businesses must register for AML supervision or risk The post Registering informal money transfer businesses appeared first on Feldon Accountancy. Thu, 03 Apr 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/04/registering-informal-money-transfer-businesses thumbnail https://www.feldonaccountancy.co.uk/2025/04/hmrc-time-to-pay-arrangements If you're facing financial difficulties and owe tax, HMRC’s Time to Pay service may offer breathing space. From self-assessment to PAYE and VAT, eligible individuals and businesses can spread payments The post HMRC time to pay arrangements appeared first on Feldon Accountancy. Thu, 03 Apr 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/04/hmrc-time-to-pay-arrangements thumbnail https://www.feldonaccountancy.co.uk/2025/04/hmrc-interest-rate-increases HMRC has announced that interest rates for late payments will increase by 1.5% for all taxes starting 6 April 2025. This change, which was first announced at Autumn Budget 2024, will raise the late The post HMRC interest rate increases appeared first on Feldon Accountancy. Thu, 03 Apr 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/04/hmrc-interest-rate-increases thumbnail https://www.feldonaccountancy.co.uk/2025/04/r-d-clearance-consultation Following the Spring Statement, HMRC is inviting feedback on the idea of expanding the use of advance clearances for R&D tax reliefs, aiming to reduce errors and fraud, provide businesses with The post R & D clearance consultation appeared first on Feldon Accountancy. Thu, 03 Apr 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/04/r-d-clearance-consultation thumbnail https://www.feldonaccountancy.co.uk/2025/04/verifying-identity-at-companies-house-from-april-2025 New rules under the Economic Crime and Corporate Transparency Act mean identity checks will soon be required at Companies House. From directors to agents, all those running UK companies will need to The post Verifying identity at Companies House – From April 2025 appeared first on Feldon Accountancy. Thu, 03 Apr 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/04/verifying-identity-at-companies-house-from-april-2025 thumbnail https://www.feldonaccountancy.co.uk/2025/03/pubs-and-premises-insurance In March 2025, the Pubs Code Adjudicator (PCA) wrote to all pub-owning businesses to reinforce the importance of complying with Regulation 46 of the Pubs Code. This regulation focuses on how premises The post Pubs and premises insurance appeared first on Feldon Accountancy. Mon, 31 Mar 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/03/pubs-and-premises-insurance thumbnail https://www.feldonaccountancy.co.uk/2025/03/recycling-changes ​As of 31 March 2025, new regulations have come into effect in England, requiring workplaces to adopt simplified recycling practices. These measures aim to eliminate confusion over waste sorting, The post Recycling changes appeared first on Feldon Accountancy. Mon, 31 Mar 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/03/recycling-changes thumbnail https://www.feldonaccountancy.co.uk/2025/03/cgt-holding-over-gains-if-you-gift-business-assets Gift Hold-Over Relief lets you defer Capital Gains Tax when giving away business assets or qualifying shares. It can be a tax-smart move for passing on wealth, but strict rules apply. Here’s what you The post CGT holding over gains if you gift business assets appeared first on Feldon Accountancy. Thu, 27 Mar 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/03/cgt-holding-over-gains-if-you-gift-business-assets thumbnail https://www.feldonaccountancy.co.uk/2025/03/childcare-grants Juggling higher education and parenting? Childcare Grants can ease the pressure by covering up to 85% of your childcare costs. If you're a full-time student with young children, this grant could make The post Childcare grants appeared first on Feldon Accountancy. Thu, 27 Mar 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/03/childcare-grants thumbnail https://www.feldonaccountancy.co.uk/2025/03/applying-for-student-loans Student Loans help cover the cost of university or college in the UK. Whether you're full-time, part-time, or heading into postgrad study, here’s what you need to know about applying for 2025-26 The post Applying for student loans appeared first on Feldon Accountancy. Thu, 27 Mar 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/03/applying-for-student-loans thumbnail https://www.feldonaccountancy.co.uk/2025/03/time-off-for-jury-service If your employee is called for jury service, you must allow them time off—but you're not required to pay them. Here’s a clear look at your responsibilities, options, and how to handle The post Time off for jury service appeared first on Feldon Accountancy. Thu, 27 Mar 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/03/time-off-for-jury-service thumbnail https://www.feldonaccountancy.co.uk/2025/03/beneficial-interests-in-jointly-held-property Couples who jointly own rental property are usually taxed 50:50, even if they own different shares. But if you're married or in a civil partnership, Form 17 lets you split income based on actual The post Beneficial interests in jointly held property appeared first on Feldon Accountancy. Thu, 27 Mar 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/03/beneficial-interests-in-jointly-held-property thumbnail https://www.feldonaccountancy.co.uk/2025/03/making-tax-digital-for-income-tax Making Tax Digital for Income Tax (MTD for IT) will become mandatory in phases from April 2026. If you’re self-employed or a landlord earning over £50,000, get ready for quarterly updates, digital The post Making Tax Digital for Income Tax appeared first on Feldon Accountancy. Thu, 27 Mar 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/03/making-tax-digital-for-income-tax thumbnail https://www.feldonaccountancy.co.uk/2025/03/llp-salaried-members Not all LLP members are taxed as partners. HMRC may treat them as employees if they meet certain conditions. Here's how the salaried member rules work, what the three-part test involves, and who’s The post LLP salaried members appeared first on Feldon Accountancy. Thu, 27 Mar 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/03/llp-salaried-members thumbnail https://www.feldonaccountancy.co.uk/2025/03/spring-statement-summary-march-2025 Spring Statement 2025: Key Tax Measures and Modernisation Initiatives Chancellor Rachel Reeves’ Spring Statement 2025, delivered on 26 March, arrived at a critical point for the UK economy. With the The post Spring Statement Summary March 2025 appeared first on Feldon Accountancy. Wed, 26 Mar 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/03/spring-statement-summary-march-2025 thumbnail https://www.feldonaccountancy.co.uk/2025/03/how-small-businesses-can-survive-a-recession Recessions can be tough on small businesses, but they do not have to spell disaster. With some smart thinking and a bit of planning, many firms can keep going and even emerge stronger once the economy The post How Small Businesses Can Survive a Recession appeared first on Feldon Accountancy. Mon, 24 Mar 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/03/how-small-businesses-can-survive-a-recession thumbnail https://www.feldonaccountancy.co.uk/2025/03/how-to-approach-your-bank-for-a-business-loan Asking your bank for a business loan can feel daunting, but it doesn’t have to be. With the right preparation, you can give yourself the best possible chance of getting a positive outcome. Start with The post How to Approach Your Bank for a Business Loan appeared first on Feldon Accountancy. Mon, 24 Mar 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/03/how-to-approach-your-bank-for-a-business-loan thumbnail https://www.feldonaccountancy.co.uk/2025/03/tax-liability-if-you-sell-a-business-asset When selling assets on which capital allowances were claimed, you may need to adjust your taxable profits with a balancing charge or allowance. Understanding these rules ensures you don’t face The post Tax liability if you sell a business asset appeared first on Feldon Accountancy. Thu, 20 Mar 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/03/tax-liability-if-you-sell-a-business-asset thumbnail https://www.feldonaccountancy.co.uk/2025/03/vat-if-you-sell-your-business When selling a business, the Transfer of a Business as a Going Concern (TOGC) rules can allow the transaction to be VAT-free if key conditions are met. This prevents unnecessary VAT charges and The post VAT if you sell your business appeared first on Feldon Accountancy. Thu, 20 Mar 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/03/vat-if-you-sell-your-business thumbnail https://www.feldonaccountancy.co.uk/2025/03/records-you-must-keep-if-self-employed-2 If you are self-employed as a sole trader or a partner in a business partnership, you are required to maintain suitable business records as well as separate personal income records for tax The post Records you must keep if self-employed appeared first on Feldon Accountancy. Thu, 20 Mar 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/03/records-you-must-keep-if-self-employed-2 https://www.feldonaccountancy.co.uk/2025/03/claiming-professional-fees-and-subscriptions Did you know you may be eligible for tax relief on professional fees and subscriptions? If your membership is required for your job and the organisation is HMRC-approved, you could claim back tax for The post Claiming professional fees and subscriptions appeared first on Feldon Accountancy. Thu, 20 Mar 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/03/claiming-professional-fees-and-subscriptions thumbnail https://www.feldonaccountancy.co.uk/2025/03/rental-business-mortgage-relief Since April 2020, landlords can no longer deduct mortgage interest as an expense. Instead, tax relief is capped at 20%. This change affects UK and non-UK resident landlords, trustees, and partnerships The post Rental business mortgage relief appeared first on Feldon Accountancy. Thu, 20 Mar 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/03/rental-business-mortgage-relief thumbnail https://www.feldonaccountancy.co.uk/2025/03/requesting-evidence-of-earnings If you're self-employed, lenders may require an SA302 and tax year overview as proof of earnings for mortgages or loans. These documents verify income declared on your self-assessment tax return and The post Requesting evidence of earnings appeared first on Feldon Accountancy. Thu, 20 Mar 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/03/requesting-evidence-of-earnings thumbnail https://www.feldonaccountancy.co.uk/2025/03/records-you-must-keep-if-self-employed If you are self-employed as a sole trader or a partner in a business partnership, you are required to maintain suitable business records as well as separate personal income records for tax The post Records you must keep if self-employed appeared first on Feldon Accountancy. Thu, 20 Mar 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/03/records-you-must-keep-if-self-employed thumbnail https://www.feldonaccountancy.co.uk/2025/03/why-adequate-business-insurance-is-essential-for-small-businesses For small business owners, especially those operating as sole traders or in partnerships without limited liability, having adequate business insurance is not just a safeguard—it’s a necessity. The post Why Adequate Business Insurance is Essential for Small Businesses appeared first on Feldon Accountancy. Mon, 17 Mar 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/03/why-adequate-business-insurance-is-essential-for-small-businesses thumbnail https://www.feldonaccountancy.co.uk/2025/03/business-advice-an-investment-not-a-cost Flexible planning is essential for adapting to uncertainty, responding to challenges, and seizing new opportunities. The world is unpredictable, and rigid plans can quickly become outdated. Whether in The post Business Advice: An Investment, Not a Cost appeared first on Feldon Accountancy. Mon, 17 Mar 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/03/business-advice-an-investment-not-a-cost thumbnail https://www.feldonaccountancy.co.uk/2025/03/government-backed-start-up-loans The Government-backed Start-Up Loans scheme offers unsecured loans of £500 to £25,000 per person (up to £100,000 per business) to help entrepreneurs grow. With a fixed 6% interest rate and mentoring The post Government backed Start-Up Loans appeared first on Feldon Accountancy. Thu, 13 Mar 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/03/government-backed-start-up-loans thumbnail https://www.feldonaccountancy.co.uk/2025/03/child-benefits-for-over-16s From April 2025, Child Benefit increases to £26.05 for the eldest child and £17.25 for others. Payments stop after a child turns 16 unless they continue in approved education or training. Parents must The post Child Benefits for over 16s appeared first on Feldon Accountancy. Thu, 13 Mar 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/03/child-benefits-for-over-16s thumbnail https://www.feldonaccountancy.co.uk/2025/03/how-vat-payments-on-account-work Businesses owing over £2.3 million in VAT annually must make advance payments on account. These are based on the previous year’s VAT liability and paid in instalments. Late payments incur penalties, The post How VAT Payments on Account Work appeared first on Feldon Accountancy. Thu, 13 Mar 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/03/how-vat-payments-on-account-work thumbnail https://www.feldonaccountancy.co.uk/2025/03/group-relief-for-trading-losses Group relief helps reduce the overall Corporation Tax of a group of companies by allowing them to share losses. For example, if a parent company has profits of £1,000 and its subsidiary has losses of The post Group relief for trading losses appeared first on Feldon Accountancy. Thu, 13 Mar 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/03/group-relief-for-trading-losses thumbnail https://www.feldonaccountancy.co.uk/2025/03/tax-and-maintenance-payments Maintenance Payments Relief reduces Income Tax for those making court-ordered payments to an ex-spouse or civil partner. To qualify, one party must have been born before 6 April 1935. The relief is The post Tax and Maintenance Payments appeared first on Feldon Accountancy. Thu, 13 Mar 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/03/tax-and-maintenance-payments thumbnail https://www.feldonaccountancy.co.uk/2025/03/self-employed-national-insurance-contributions Self-employed individuals earning £12,570 or more annually must pay Class 4 National Insurance Contributions (NICs). For 2024-25, rates are 6% on profits up to £50,270 and 2% above this. Certain The post Self-Employed National Insurance Contributions appeared first on Feldon Accountancy. Thu, 13 Mar 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/03/self-employed-national-insurance-contributions thumbnail https://www.feldonaccountancy.co.uk/2025/03/beware-of-rushing-to-judgement-before-terminating-employment A Tribunal has ruled that a deputy security manager was unfairly dismissed, despite performing “no prescribed tasks” while ‘working from home’, many hundreds of miles from his place of The post Beware of rushing to judgement before terminating employment. appeared first on Feldon Accountancy. Wed, 12 Mar 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/03/beware-of-rushing-to-judgement-before-terminating-employment thumbnail https://www.feldonaccountancy.co.uk/2025/03/why-flexible-planning-is-advisable Flexible planning is essential for adapting to uncertainty, responding to challenges, and seizing new opportunities. The world is unpredictable, and rigid plans can quickly become outdated. Whether in The post Why flexible planning is advisable appeared first on Feldon Accountancy. Mon, 10 Mar 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/03/why-flexible-planning-is-advisable thumbnail https://www.feldonaccountancy.co.uk/2025/03/changes-to-online-filing-of-accounts-at-companies-house The Online Accounts and Company Tax Return (CATO) service is scheduled to close on 31 March 2026. ​ This service has enabled businesses to file their company accounts and tax returns simultaneously The post Changes to online filing of accounts at Companies House appeared first on Feldon Accountancy. Mon, 10 Mar 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/03/changes-to-online-filing-of-accounts-at-companies-house thumbnail https://www.feldonaccountancy.co.uk/2025/03/tax-diary-april-may-2025 1 April 2025 - Due date for corporation tax due for the year ended 30 June 2024. 19 April 2025 - PAYE and NIC deductions due for month ended 5 April 2025. (If you pay your tax electronically the due The post Tax Diary April/May 2025 appeared first on Feldon Accountancy. Fri, 07 Mar 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/03/tax-diary-april-may-2025 thumbnail https://www.feldonaccountancy.co.uk/2025/03/more-tax-on-business-disposals-from-april-25 From April 2025, the Capital Gains Tax rate on Business Asset Disposal Relief rises from 10% to 14%, increasing to 18% in 2026. Business owners planning to sell may benefit from acting before these The post More tax on business disposals from April 25 appeared first on Feldon Accountancy. Thu, 06 Mar 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/03/more-tax-on-business-disposals-from-april-25 thumbnail https://www.feldonaccountancy.co.uk/2025/03/letting-out-part-of-your-home-claiming-lettings-relief Renting out part of your home may affect Capital Gains Tax when you sell. While Private Residence Relief applies, Letting Relief can reduce taxable gains. Learn how PRR, Letting Relief, and exemptions The post Letting out part of your home – claiming lettings relief appeared first on Feldon Accountancy. Thu, 06 Mar 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/03/letting-out-part-of-your-home-claiming-lettings-relief thumbnail https://www.feldonaccountancy.co.uk/2025/03/making-a-negligible-value-claim-with-hmrc A negligible value claim lets taxpayers declare an asset worthless for tax purposes, realising a capital loss without selling. This can be backdated up to two years, offering flexibility in managing The post Making a negligible value claim with HMRC appeared first on Feldon Accountancy. Thu, 06 Mar 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/03/making-a-negligible-value-claim-with-hmrc thumbnail https://www.feldonaccountancy.co.uk/2025/03/vat-and-the-goods-you-use-in-your-own-business Using business goods instead of selling them is usually VAT-free, but some cases require VAT payments. These "taxable self-supplies" include cars taken from stock and certain buildings. Read The post VAT and the goods you use in your own business appeared first on Feldon Accountancy. Thu, 06 Mar 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/03/vat-and-the-goods-you-use-in-your-own-business thumbnail https://www.feldonaccountancy.co.uk/2025/03/what-is-a-salary-sacrifice A salary sacrifice scheme lets employees swap cash salary for non-cash benefits, saving tax and National Insurance. But earnings must not fall below the National Minimum Wage, and life events may The post What is a salary sacrifice? appeared first on Feldon Accountancy. Thu, 06 Mar 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/03/what-is-a-salary-sacrifice thumbnail https://www.feldonaccountancy.co.uk/2025/03/inheriting-spouses-state-pension If your spouse or civil partner has passed away, you may inherit part of their State Pension, depending on when you reached pension age. Find out what you could claim, from basic pension boosts to The post Inheriting spouse’s State Pension appeared first on Feldon Accountancy. Thu, 06 Mar 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/03/inheriting-spouses-state-pension thumbnail https://www.feldonaccountancy.co.uk/2025/03/year-end-payroll-chores-2024-25 As the UK tax year ends on 5 April, employers must complete several key payroll tasks to stay compliant with HMRC. Processing the final payroll run is essential, ensuring all pay, deductions, and The post Year-end payroll chores 2024-25 appeared first on Feldon Accountancy. Tue, 04 Mar 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/03/year-end-payroll-chores-2024-25 thumbnail https://www.feldonaccountancy.co.uk/2025/03/essential-credit-control-for-smes A well-structured credit control system is crucial for small businesses to maintain cash flow and reduce the risk of bad debts. Without proper controls, late payments can disrupt operations and put The post Essential Credit Control for SMEs appeared first on Feldon Accountancy. Mon, 03 Mar 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/03/essential-credit-control-for-smes thumbnail https://www.feldonaccountancy.co.uk/2025/03/sources-of-funding-for-small-businesses Starting or growing a small business often requires capital, but securing the right funding can be a challenge. Fortunately, there are various funding sources available to entrepreneurs, each with its The post Sources of funding for small businesses appeared first on Feldon Accountancy. Mon, 03 Mar 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/03/sources-of-funding-for-small-businesses thumbnail https://www.feldonaccountancy.co.uk/2025/02/treatment-of-post-cessation-receipts-and-payments When a trade ends, income doesn’t always stop. Post-cessation receipts can still arise, and knowing how they are taxed is crucial. Whether it’s Income Tax or Corporation Tax, the recipient—not The post Treatment of post-cessation receipts and payments appeared first on Feldon Accountancy. Thu, 27 Feb 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/02/treatment-of-post-cessation-receipts-and-payments thumbnail https://www.feldonaccountancy.co.uk/2025/02/whats-included-in-your-vat-return With a £90,000 VAT registration threshold, many UK businesses might wonder whether to register voluntarily. Understanding how to balance output and input VAT can help optimise cash flow and avoid The post What’s included in your VAT return appeared first on Feldon Accountancy. Thu, 27 Feb 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/02/whats-included-in-your-vat-return thumbnail https://www.feldonaccountancy.co.uk/2025/02/tax-relief-for-structures-and-buildings-expenditure Maximise your tax relief with the Structures and Buildings Allowances (SBA). If you have invested in new or renovated commercial structures, you could claim 3% relief annually—saving you money The post Tax relief for structures and buildings expenditure appeared first on Feldon Accountancy. Thu, 27 Feb 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/02/tax-relief-for-structures-and-buildings-expenditure thumbnail https://www.feldonaccountancy.co.uk/2025/02/tax-free-redundancy-payments If redundancy strikes, you could receive up to £30,000 tax-free. Whether it’s statutory or a more generous employer offer, understanding your entitlements and the latest caps on weekly pay can make a The post Tax-free redundancy payments appeared first on Feldon Accountancy. Thu, 27 Feb 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/02/tax-free-redundancy-payments thumbnail https://www.feldonaccountancy.co.uk/2025/02/uk-residence-and-tax-issues The UK's shift to the Foreign Income and Gains (FIG) regime from April 2025 changes how foreign income is taxed. If you are a UK resident, get ready to possibly pay UK Income Tax on all foreign The post UK residence and tax issues appeared first on Feldon Accountancy. Thu, 27 Feb 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/02/uk-residence-and-tax-issues thumbnail https://www.feldonaccountancy.co.uk/2025/02/how-far-back-can-hmrc-assess-under-declared-taxes From income tax to VAT, HMRC has specific time limits for issuing tax assessments. Depending on the circumstances—whether it’s standard, careless, offshore, or deliberate behaviour—these The post How far back can HMRC assess under-declared taxes? appeared first on Feldon Accountancy. Thu, 27 Feb 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/02/how-far-back-can-hmrc-assess-under-declared-taxes thumbnail https://www.feldonaccountancy.co.uk/2025/02/women-in-leadership-roles The UK is making significant strides in promoting gender equality within its top companies. According to the latest FTSE Women Leaders Review, women now occupy nearly 43% of board positions across The post Women in leadership roles appeared first on Feldon Accountancy. Tue, 25 Feb 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/02/women-in-leadership-roles thumbnail https://www.feldonaccountancy.co.uk/2025/02/the-benefits-of-benchmarking-financial-results Benchmarking financial results involves comparing a business’s financial performance against industry standards or competitors. This process offers numerous benefits, helping businesses identify The post The benefits of benchmarking financial results appeared first on Feldon Accountancy. Tue, 25 Feb 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/02/the-benefits-of-benchmarking-financial-results thumbnail https://www.feldonaccountancy.co.uk/2025/02/self-employment-cannot-be-used-as-a-tax-smokescreen-for-contracted-employees A complex celebrity case arose recently in which the First-tier Tax Tribunal (FTT) was asked to consider the application of the intermediaries’ legislation (IR35), otherwise known as off-payroll The post Self-employment cannot be used as a tax smokescreen for contracted employees appeared first on Feldon Accountancy. Fri, 21 Feb 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/02/self-employment-cannot-be-used-as-a-tax-smokescreen-for-contracted-employees thumbnail https://www.feldonaccountancy.co.uk/2025/02/gifts-exempt-from-inheritance-tax Navigating the intricacies of Inheritance Tax (IHT) can be daunting, but understanding the available gift exemptions and strategic planning can significantly reduce potential liabilities. By The post Gifts exempt from Inheritance Tax appeared first on Feldon Accountancy. Thu, 20 Feb 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/02/gifts-exempt-from-inheritance-tax thumbnail https://www.feldonaccountancy.co.uk/2025/02/e-invoicing-consultation HMRC together with the Department for Business and Trade (DBT) have launched a new consultation on e-invoicing to encourage its broader adoption among UK businesses and government departments. The The post E-invoicing consultation appeared first on Feldon Accountancy. Thu, 20 Feb 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/02/e-invoicing-consultation thumbnail https://www.feldonaccountancy.co.uk/2025/02/is-your-extra-income-taxable HMRC has launched a new "Help for Hustlers" campaign to help people who are earning extra income, figure out if they need to pay tax on the additional earnings. The campaign runs until the The post Is your extra income taxable? appeared first on Feldon Accountancy. Thu, 20 Feb 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/02/is-your-extra-income-taxable thumbnail https://www.feldonaccountancy.co.uk/2025/02/business-mileage-with-your-own-vehicle Understanding the nuances of tax relief for using your personal vehicle for work can lead to significant savings. By familiarising yourself with HMRC's approved mileage rates you can ensure you are The post Business mileage with your own vehicle appeared first on Feldon Accountancy. Thu, 20 Feb 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/02/business-mileage-with-your-own-vehicle thumbnail https://www.feldonaccountancy.co.uk/2025/02/claiming-tax-relief-for-job-expenses Employees working from home may be eligible to claim a tax deduction for certain job-related expenses. If your employer does not cover these costs or allowances, you have the option to claim tax The post Claiming tax relief for job expenses appeared first on Feldon Accountancy. Thu, 20 Feb 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/02/claiming-tax-relief-for-job-expenses thumbnail https://www.feldonaccountancy.co.uk/2025/02/probate-waiting-times-halved The Ministry of Justice (MOJ), together with HM Courts & Tribunals Service (HMCTS) and the Minister for Courts and Legal Services, has announced significant improvements in probate waiting times. The post Probate waiting times halved appeared first on Feldon Accountancy. Thu, 20 Feb 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/02/probate-waiting-times-halved thumbnail https://www.feldonaccountancy.co.uk/2025/02/should-you-incorporate-your-business Deciding whether to incorporate your business in the UK involves evaluating several key factors: Limited Liability Protection Incorporating as a limited company creates a separate legal entity, The post Should you incorporate your business? appeared first on Feldon Accountancy. Mon, 17 Feb 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/02/should-you-incorporate-your-business thumbnail https://www.feldonaccountancy.co.uk/2025/02/exploring-national-insurance-credits Even if you have never been employed, you might have been eligible for NI credits without realising it. For example, if you have been a carer for a sick or disabled person for more than 20 hours a The post Exploring National Insurance Credits appeared first on Feldon Accountancy. Mon, 17 Feb 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/02/exploring-national-insurance-credits thumbnail https://www.feldonaccountancy.co.uk/2025/02/cis-monthly-returns-obligations The Construction Industry Scheme (CIS) requires contractors to deduct tax from subcontractor payments and file monthly returns with HMRC. Even if no payments are made, nil returns must be submitted to The post CIS monthly returns obligations appeared first on Feldon Accountancy. Thu, 13 Feb 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/02/cis-monthly-returns-obligations thumbnail https://www.feldonaccountancy.co.uk/2025/02/health-services-exempt-from-vat Health professionals providing medical services may be exempt from VAT if their work falls within their registered profession and primarily protects, maintains, or restores health. HMRC outlines The post Health services exempt from VAT appeared first on Feldon Accountancy. Thu, 13 Feb 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/02/health-services-exempt-from-vat thumbnail https://www.feldonaccountancy.co.uk/2025/02/cut-in-interest-rates The Bank of England’s Monetary Policy Committee (MPC) met on 5 February and in a 7-2 vote decided to reduce interest rates by 25 basis points to 4.5%. The two remaining members voted to reduce the The post Cut in interest rates appeared first on Feldon Accountancy. Thu, 13 Feb 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/02/cut-in-interest-rates thumbnail https://www.feldonaccountancy.co.uk/2025/02/check-or-update-company-car-tax-details If you use a company car for private travel, it's taxed as a Benefit in Kind (BIK). The tax rate depends on the car’s list price and CO2 emissions—low-emission vehicles get tax breaks. Use The post Check or update company car tax details appeared first on Feldon Accountancy. Thu, 13 Feb 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/02/check-or-update-company-car-tax-details thumbnail https://www.feldonaccountancy.co.uk/2025/02/jointly-owned-property-no-partnership Tax on rental income from jointly owned property depends on ownership shares, unless part of a partnership. Married couples default to a 50/50 split unless they notify HMRC of a different income The post Jointly owned property – no partnership appeared first on Feldon Accountancy. Thu, 13 Feb 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/02/jointly-owned-property-no-partnership thumbnail https://www.feldonaccountancy.co.uk/2025/02/tax-when-transferring-assets-during-divorce-proceedings Separation and divorce can create tax implications, particularly Capital Gains Tax (CGT) on asset transfers. New rules from April 2023 extend the ‘no gain/no loss’ period, helping spouses manage tax The post Tax when transferring assets during divorce proceedings appeared first on Feldon Accountancy. Thu, 13 Feb 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/02/tax-when-transferring-assets-during-divorce-proceedings thumbnail https://www.feldonaccountancy.co.uk/2025/02/how-to-stop-future-payments-on-your-debit-or-credit-card Stopping future payments from being made on your debit or credit card is crucial for avoiding unwanted charges and managing your finances effectively. Here’s how you can do it: The first step is to The post How to Stop Future Payments on Your Debit or Credit Card appeared first on Feldon Accountancy. Tue, 11 Feb 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/02/how-to-stop-future-payments-on-your-debit-or-credit-card thumbnail https://www.feldonaccountancy.co.uk/2025/02/not-all-hurt-feelings-are-uncapped-costly The Employment Appeal Tribunal slashed a £10,000 award for injury to feeling by 80% after an original tribunal ruling was deemed not to be Meek compliant as it failed to provide adequate reasons for The post Not all hurt feelings are uncapped & costly appeared first on Feldon Accountancy. Tue, 11 Feb 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/02/not-all-hurt-feelings-are-uncapped-costly thumbnail https://www.feldonaccountancy.co.uk/2025/02/how-to-check-the-creditworthiness-of-new-customers Before extending credit to new customers, it’s essential to assess their financial reliability. Checking their creditworthiness helps protect your business from potential losses and late payments. The post How to Check the Creditworthiness of New Customers appeared first on Feldon Accountancy. Tue, 11 Feb 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/02/how-to-check-the-creditworthiness-of-new-customers thumbnail https://www.feldonaccountancy.co.uk/2025/02/tax-on-inherited-private-pension-pots Private pensions can be a great way to pass on wealth, but tax implications depend on the age of the deceased and the type of pension. Some beneficiaries may receive funds tax-free, while others could The post Tax on inherited private pension pots appeared first on Feldon Accountancy. Thu, 06 Feb 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/02/tax-on-inherited-private-pension-pots thumbnail https://www.feldonaccountancy.co.uk/2025/02/how-umbrella-companies-work Umbrella companies offer an easy way for freelancers and contractors to get paid without running a limited company. They handle payroll and tax via PAYE, ensuring compliance and employment rights. But The post How umbrella companies work appeared first on Feldon Accountancy. Thu, 06 Feb 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/02/how-umbrella-companies-work thumbnail https://www.feldonaccountancy.co.uk/2025/02/when-is-a-hobby-a-business Not sure if your hobby is actually a taxable trade? HMRC uses ‘badges of trade’ to assess whether an activity is a business. Factors like profit motive, transaction frequency, and asset changes help The post When is a hobby a business appeared first on Feldon Accountancy. Thu, 06 Feb 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/02/when-is-a-hobby-a-business thumbnail https://www.feldonaccountancy.co.uk/2025/02/small-duty-cuts-on-draught-products-from-1-february-2025 From 1 February 2025, alcohol duty on draught pints has been cut for the first time in a decade, saving drinkers 1p per pint. Small breweries also benefit from tax relief. However, duty on non-draught The post Small duty cuts on draught products from 1 February 2025 appeared first on Feldon Accountancy. Thu, 06 Feb 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/02/small-duty-cuts-on-draught-products-from-1-february-2025 thumbnail https://www.feldonaccountancy.co.uk/2025/02/31-january-deadline-met-by-more-than-11-5-million-people Over 11.5 million people met the 31 January 2025 self-assessment deadline, but 1.1 million taxpayers missed it. If you're one of them, expect a £100 penalty. Learn about late fees and HMRC’s payment The post 31 January deadline met by more than 11.5 million people appeared first on Feldon Accountancy. Thu, 06 Feb 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/02/31-january-deadline-met-by-more-than-11-5-million-people thumbnail https://www.feldonaccountancy.co.uk/2025/02/tax-chores-if-managing-a-deceased-persons-estate When someone dies, their personal representative (executor or administrator) must value their estate to determine if Inheritance Tax (IHT) is due. This involves assessing assets, debts, and handling The post Tax chores if managing a deceased person’s estate appeared first on Feldon Accountancy. Thu, 06 Feb 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/02/tax-chores-if-managing-a-deceased-persons-estate thumbnail https://www.feldonaccountancy.co.uk/2025/02/tax-diary-march-april-2025 1 March 2025 - Due date for Corporation Tax due for the year ended 31 May 2024. 2 March 2025 - Self-Assessment tax for 2023-24 paid after this date will incur a 5% surcharge unless liabilities are The post Tax Diary March/April 2025 appeared first on Feldon Accountancy. Tue, 04 Feb 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/02/tax-diary-march-april-2025 thumbnail https://www.feldonaccountancy.co.uk/2025/02/a-small-business-guide-to-exporting-and-international-trade Expanding into international markets can be a game-changer for UK small businesses, opening up new revenue streams and increasing business resilience. With the right knowledge and support, even small The post A Small Business Guide to Exporting and International Trade appeared first on Feldon Accountancy. Mon, 03 Feb 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/02/a-small-business-guide-to-exporting-and-international-trade thumbnail https://www.feldonaccountancy.co.uk/2025/02/late-payment-support-for-small-businesses-how-to-protect-your-cash-flow Cash flow is the backbone of any small business, yet late payments continue to be a major challenge for entrepreneurs across the UK. According to the Federation of Small Businesses (FSB), around The post Late Payment Support for Small Businesses – How to Protect Your Cash Flow appeared first on Feldon Accountancy. Mon, 03 Feb 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/02/late-payment-support-for-small-businesses-how-to-protect-your-cash-flow thumbnail https://www.feldonaccountancy.co.uk/2025/01/student-and-postgraduate-loan-thresholds-and-rates From 6 April 2025, new thresholds for student loan repayments will take effect, impacting borrowers across the UK. Whether you're on Plan 1, Plan 2, Plan 4, or repaying a postgraduate loan, here’s a The post Student and postgraduate loan thresholds and rates appeared first on Feldon Accountancy. Thu, 30 Jan 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/01/student-and-postgraduate-loan-thresholds-and-rates thumbnail https://www.feldonaccountancy.co.uk/2025/01/who-needs-to-register-for-an-eori-number If you are moving goods across borders, an EORI number may be essential for customs clearance. Whether trading with the EU, Northern Ireland, or beyond, knowing which type you need—GB, XI, or The post Who needs to register for an EORI number appeared first on Feldon Accountancy. Thu, 30 Jan 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/01/who-needs-to-register-for-an-eori-number thumbnail https://www.feldonaccountancy.co.uk/2025/01/how-to-check-your-tax-code Your tax code determines how much tax is deducted from your pay. While 1257L is the most common, different letters and numbers can affect how much you owe. From marriage allowance to emergency codes, The post How to check your tax code appeared first on Feldon Accountancy. Thu, 30 Jan 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/01/how-to-check-your-tax-code thumbnail https://www.feldonaccountancy.co.uk/2025/01/self-employed-must-report-profits-on-tax-year-basis Big changes are here for the self-employed! From 2024-25, profits must align with the tax year, replacing the old "current year basis." Overlap relief is ending, and transition profits will The post Self-employed must report profits on tax year basis appeared first on Feldon Accountancy. Thu, 30 Jan 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/01/self-employed-must-report-profits-on-tax-year-basis thumbnail https://www.feldonaccountancy.co.uk/2025/01/reforms-to-taxation-of-non-doms-from-april-2025 From 6 April 2025, the remittance basis of taxation will be scrapped in favour of a residence-based system. A new 4-year Foreign Income and Gains regime offers tax relief for new arrivals, while The post Reforms to taxation of non-doms from April 2025 appeared first on Feldon Accountancy. Thu, 30 Jan 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/01/reforms-to-taxation-of-non-doms-from-april-2025 thumbnail https://www.feldonaccountancy.co.uk/2025/01/reminder-of-employers-nic-changes-from-april-25 From 6 April 2025, employers will face a 1.2% rise in National Insurance contributions, alongside a lower NICs threshold. However, an increased Employment Allowance aims to ease the burden for small The post Reminder of Employer’s NIC changes from April 25 appeared first on Feldon Accountancy. Thu, 30 Jan 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/01/reminder-of-employers-nic-changes-from-april-25 thumbnail https://www.feldonaccountancy.co.uk/2025/01/google-to-tackle-fake-reviews-following-cma-investigation In a significant move to enhance trust in online reviews, Google has agreed to implement substantial changes to combat fake reviews, following an investigation by the UK's Competition and Markets The post Google to Tackle Fake Reviews Following CMA Investigation appeared first on Feldon Accountancy. Tue, 28 Jan 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/01/google-to-tackle-fake-reviews-following-cma-investigation thumbnail https://www.feldonaccountancy.co.uk/2025/01/understanding-the-uks-bank-deposit-guarantee-scheme The UK government offers a robust safety net for savers through the Financial Services Compensation Scheme (FSCS). This scheme is designed to protect individuals, small businesses, and charities if a The post Understanding the UK’s Bank Deposit Guarantee Scheme appeared first on Feldon Accountancy. Tue, 28 Jan 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/01/understanding-the-uks-bank-deposit-guarantee-scheme thumbnail https://www.feldonaccountancy.co.uk/2025/01/it-is-not-always-possible-to-mend-fences-reinstatement-is-not-always-a-practicable-option-where-there-is-a-breakdown-in-employment-relations The Employment Appeal Tribunal (EAT) upheld claims of constructive dismissal and disability discrimination against Whyte & Mackay Limited (W&ML) in the case of Mr. Duployen , a former forklift The post It is not always possible to mend fences – Reinstatement is not always a practicable option where there is a breakdown in employment relations appeared first on Feldon Accountancy. Tue, 28 Jan 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/01/it-is-not-always-possible-to-mend-fences-reinstatement-is-not-always-a-practicable-option-where-there-is-a-breakdown-in-employment-relations thumbnail https://www.feldonaccountancy.co.uk/2025/01/rolling-over-capital-gains Business Asset Rollover Relief allows you to defer Capital Gains Tax (CGT) when reinvesting proceeds from selling business assets. By rolling gains into the cost of new assets, tax is postponed until The post Rolling over capital gains appeared first on Feldon Accountancy. Thu, 23 Jan 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/01/rolling-over-capital-gains thumbnail https://www.feldonaccountancy.co.uk/2025/01/designating-a-property-as-your-main-residence Owning more than one property? You can claim Capital Gains Tax (CGT) relief on just one at a time. By formally electing your main residence within two years of property changes, you can optimise your The post Designating a property as your main residence appeared first on Feldon Accountancy. Thu, 23 Jan 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/01/designating-a-property-as-your-main-residence thumbnail https://www.feldonaccountancy.co.uk/2025/01/claiming-vat-on-pre-registration-purchases Businesses can reclaim VAT on pre-registration expenses if they relate to taxable supplies made after VAT registration. The rules differ for goods and services, with time limits of 4 years for goods The post Claiming VAT on pre-registration purchases appeared first on Feldon Accountancy. Thu, 23 Jan 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/01/claiming-vat-on-pre-registration-purchases thumbnail https://www.feldonaccountancy.co.uk/2025/01/beware-false-business-rates-warnings The 2023 Revaluation updates business property rateable values, based on April 2021 valuations. While challenges are open until March 2026, beware of false claims about earlier deadlines and The post Beware false business rates warnings appeared first on Feldon Accountancy. Thu, 23 Jan 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/01/beware-false-business-rates-warnings thumbnail https://www.feldonaccountancy.co.uk/2025/01/how-donations-to-charity-can-provide-tax-relief Gift Aid transforms charitable donations by allowing charities and CASCs to claim 25p extra for every £1 given—at no additional cost to you. Higher and additional rate taxpayers can also claim The post How donations to charity can provide tax relief appeared first on Feldon Accountancy. Thu, 23 Jan 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/01/how-donations-to-charity-can-provide-tax-relief thumbnail https://www.feldonaccountancy.co.uk/2025/01/dealing-with-company-unpaid-debts Unpaid debts can put a limited company at risk of a winding-up petition, potentially leading to liquidation. Creditors may act via court judgments or statutory demands, forcing companies to settle The post Dealing with company unpaid debts appeared first on Feldon Accountancy. Thu, 23 Jan 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/01/dealing-with-company-unpaid-debts thumbnail https://www.feldonaccountancy.co.uk/2025/01/investing-in-new-equipment-for-your-business Making a significant investment in new equipment can be a transformative step for a business, improving efficiency, productivity, and competitiveness. However, such a decision requires careful The post Investing in new equipment for your business? appeared first on Feldon Accountancy. Mon, 20 Jan 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/01/investing-in-new-equipment-for-your-business thumbnail https://www.feldonaccountancy.co.uk/2025/01/debt-management-plan Navigating financial challenges can be daunting, but understanding the tools available can make a significant difference. One such tool is a Debt Management Plan (DMP), designed to help individuals The post Debt Management Plan appeared first on Feldon Accountancy. Mon, 20 Jan 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/01/debt-management-plan thumbnail https://www.feldonaccountancy.co.uk/2025/01/selling-online-and-paying-tax Selling online? Whether it’s a hobby or a business, you may need to pay tax if your earnings exceed £1,000. From services to content creation, it’s vital to understand self-assessment rules and new The post Selling online and paying tax appeared first on Feldon Accountancy. Thu, 16 Jan 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/01/selling-online-and-paying-tax thumbnail https://www.feldonaccountancy.co.uk/2025/01/tax-exempt-employee-loans Beneficial loans, where employees benefit from cheap or interest-free loans from their employer, can trigger tax implications. However, certain exemptions, like loans under £10,000 or qualifying The post Tax-exempt employee loans appeared first on Feldon Accountancy. Thu, 16 Jan 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/01/tax-exempt-employee-loans thumbnail https://www.feldonaccountancy.co.uk/2025/01/payrolling-employee-benefits Employers can voluntarily register to report and account for tax on certain benefits and expenses via the RTI system before the start of the tax year. This process, known as payrolling, eliminates the The post Payrolling employee benefits appeared first on Feldon Accountancy. Thu, 16 Jan 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/01/payrolling-employee-benefits thumbnail https://www.feldonaccountancy.co.uk/2025/01/penalties-for-late-filing-of-tax-returns HMRC reports over 63,000 taxpayers filed their returns over the New Year, but 5.4 million still need to act before the looming 31 January 2025 deadline. File now to avoid penalties, pay your 2023-24 The post Penalties for late filing of tax returns appeared first on Feldon Accountancy. Thu, 16 Jan 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/01/penalties-for-late-filing-of-tax-returns thumbnail https://www.feldonaccountancy.co.uk/2025/01/tax-return-for-deceased-person Inheritance Tax (IHT) impacts estates over £325,000, with rates of 40% on death and 20% on certain gifts. A 36% reduced rate applies if 10% of the estate is left to charity. Executors must value The post Tax return for deceased person appeared first on Feldon Accountancy. Thu, 16 Jan 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/01/tax-return-for-deceased-person thumbnail https://www.feldonaccountancy.co.uk/2025/01/online-information-about-a-company A significant amount of online information about companies is available to the public on the Companies House website. The information available through Companies House can be an important resource for The post Online information about a company appeared first on Feldon Accountancy. Thu, 16 Jan 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/01/online-information-about-a-company thumbnail https://www.feldonaccountancy.co.uk/2025/01/beware-the-legal-minefield-of-the-transferring-of-contractual-undertakings A recent case [London United Busways Ltd. (LUB) v De Marchi and Abellio London [2024] EAT 191] revealed the complexities of working under the Transfer of Undertakings (Protection of Employment) The post Beware the legal minefield of the transferring of contractual undertakings appeared first on Feldon Accountancy. Tue, 14 Jan 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/01/beware-the-legal-minefield-of-the-transferring-of-contractual-undertakings thumbnail https://www.feldonaccountancy.co.uk/2025/01/ticket-touts-days-are-numbered The UK government has unveiled a series of proposals aimed at curbing exploitative practices in the ticket resale market, seeking to protect consumers from exorbitant prices and enhance transparency The post Ticket touts’ days are numbered appeared first on Feldon Accountancy. Mon, 13 Jan 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/01/ticket-touts-days-are-numbered thumbnail https://www.feldonaccountancy.co.uk/2025/01/roll-out-of-new-digital-markets-regime The UK's Competition and Markets Authority (CMA) has initiated its new digital markets competition regime, effective from January 1, 2025, following the Digital Markets, Competition and Consumers The post Roll-out of new digital markets regime appeared first on Feldon Accountancy. Mon, 13 Jan 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/01/roll-out-of-new-digital-markets-regime thumbnail https://www.feldonaccountancy.co.uk/2025/01/future-increases-in-cgt-on-sale-of-a-business Planning to sell your business or shares? Capital Gains Tax rates for Business Asset Disposal Relief (BADR) are set to rise from 10% to 14% on 6 April 2025, and to 18% from 6 April 2026. Selling The post Future increases in CGT on sale of a business appeared first on Feldon Accountancy. Thu, 09 Jan 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/01/future-increases-in-cgt-on-sale-of-a-business thumbnail https://www.feldonaccountancy.co.uk/2025/01/tax-relief-for-zero-emission-cars-and-electric-charge-points Great news for businesses! Tax relief on zero-emission cars and EV charge points has been extended until 2026. This move aligns with the UK’s ambitious Zero Emission Vehicle mandate, driving the shift The post Tax relief for zero emission cars and electric charge points appeared first on Feldon Accountancy. Thu, 09 Jan 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/01/tax-relief-for-zero-emission-cars-and-electric-charge-points thumbnail https://www.feldonaccountancy.co.uk/2025/01/is-your-trade-in-goods-or-services-a-business Selling goods or services? It’s vital to know if HMRC considers this a business. From regular sales to earning commissions, their rules on ‘trading’ impact your tax obligations. Here’s a simple guide The post Is your trade in goods or services a business appeared first on Feldon Accountancy. Thu, 09 Jan 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/01/is-your-trade-in-goods-or-services-a-business thumbnail https://www.feldonaccountancy.co.uk/2025/01/what-expenses-can-be-claimed-against-rental-income Are you a landlord? Maximise your rental income by knowing which expenses you can claim to reduce your tax bill. From maintenance costs to Replacement of Domestic Item Relief, understanding allowable The post What expenses can be claimed against rental income appeared first on Feldon Accountancy. Thu, 09 Jan 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/01/what-expenses-can-be-claimed-against-rental-income thumbnail https://www.feldonaccountancy.co.uk/2025/01/last-month-to-file-2023-24-tax-return The 31 January 2025 deadline for self-assessment tax returns is fast approaching. Avoid penalties and last-minute stress by filing your return and paying any tax due promptly. Don’t forget, first-time The post Last month to file 2023-24 tax return appeared first on Feldon Accountancy. Thu, 09 Jan 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/01/last-month-to-file-2023-24-tax-return thumbnail https://www.feldonaccountancy.co.uk/2025/01/finding-your-national-insurance-number Misplaced your National Insurance number? Do not worry! From checking payslips to using the HMRC app, there are many ways to recover it. If all else fails, you can request it via post. Here is The post Finding your National Insurance number appeared first on Feldon Accountancy. Thu, 09 Jan 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/01/finding-your-national-insurance-number thumbnail https://www.feldonaccountancy.co.uk/2025/01/perseverance-is-the-key-to-sales-success The average number of touchpoints needed to secure a sale, or appointment generally falls between 7 and 12. However, this varies by industry, target audience, and product or service type. Here’s why The post Perseverance is the key to sales success appeared first on Feldon Accountancy. Tue, 07 Jan 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/01/perseverance-is-the-key-to-sales-success thumbnail https://www.feldonaccountancy.co.uk/2025/01/what-to-expect-from-the-chancellors-spring-statement-2025 The Chancellor’s Spring Statement, scheduled for 26 March 2025, is expected to focus on navigating the challenges of public finances, economic growth, and household pressures. Economic Context The The post What to Expect from the Chancellor’s Spring Statement 2025 appeared first on Feldon Accountancy. Tue, 07 Jan 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/01/what-to-expect-from-the-chancellors-spring-statement-2025 thumbnail https://www.feldonaccountancy.co.uk/2025/01/the-uk-economic-outlook-for-2025 The economic outlook for the UK in 2025 presents a mixed picture, with expectations of modest growth tempered by persistent inflationary pressures. Growth Projections The Organisation for Economic The post The UK economic outlook for 2025 appeared first on Feldon Accountancy. Thu, 02 Jan 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/01/the-uk-economic-outlook-for-2025 thumbnail https://www.feldonaccountancy.co.uk/2025/01/waspi-claims-apology-but-no-compensation The UK government has recently addressed the Parliamentary and Health Service Ombudsman's (PHSO) report concerning the communication of changes to women's State Pension age. The PHSO identified The post WASPI claims – apology but no compensation appeared first on Feldon Accountancy. Thu, 02 Jan 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/01/waspi-claims-apology-but-no-compensation thumbnail https://www.feldonaccountancy.co.uk/2025/01/using-the-car-fuel-rates Advisory fuel rates for company cars help employers and employees manage fuel costs without triggering tax liabilities. Learn how to use these rates to avoid tax, especially car fuel benefit The post Using the car fuel rates appeared first on Feldon Accountancy. Thu, 02 Jan 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/01/using-the-car-fuel-rates thumbnail https://www.feldonaccountancy.co.uk/2025/01/advising-hmrc-of-employees-company-car-details Ensure compliance with HMRC rules when providing company cars. From P46(Car) submissions to benefit reporting, learn what steps to take for private use and specific exemptions. Here are the steps you The post Advising HMRC of employees’ company car details appeared first on Feldon Accountancy. Thu, 02 Jan 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/01/advising-hmrc-of-employees-company-car-details thumbnail https://www.feldonaccountancy.co.uk/2025/01/making-tax-digital-for-income-tax-volunteers From April 2026, Making Tax Digital for Income Tax (MTD for ITSA) will transform tax compliance for businesses, self-employed individuals, and landlords, mandating digital record-keeping and online The post Making Tax Digital for Income Tax volunteers appeared first on Feldon Accountancy. Thu, 02 Jan 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/01/making-tax-digital-for-income-tax-volunteers thumbnail https://www.feldonaccountancy.co.uk/2025/01/cash-basis-default-position-for-self-employed The cash basis is now the default for self-employed income reporting. Learn about the key updates, opt-out options, and how this simplified method can ease your self-assessment obligations with The post Cash-basis default position for self-employed appeared first on Feldon Accountancy. Thu, 02 Jan 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/01/cash-basis-default-position-for-self-employed thumbnail https://www.feldonaccountancy.co.uk/2025/01/tax-diary-february-march-2025 1 February 2025 - Due date for Corporation Tax payable for the year ended 30 April 2024. 19 February 2025 - PAYE and NIC deductions due for month ended 5 February 2025. (If you pay your tax The post Tax Diary February/March 2025 appeared first on Feldon Accountancy. Thu, 02 Jan 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/01/tax-diary-february-march-2025 thumbnail https://www.feldonaccountancy.co.uk/2025/01/inheritance-tax-thresholds-and-the-rnrb Inheritance Tax nil-rate bands remain frozen until April 2030. Learn how this affects estates, the residence nil-rate band, and planning opportunities to maximise tax-free inheritance for loved The post Inheritance Tax thresholds and the RNRB appeared first on Feldon Accountancy. Thu, 02 Jan 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/01/inheritance-tax-thresholds-and-the-rnrb thumbnail https://www.feldonaccountancy.co.uk/2025/01/capital-gains-tax-the-new-rates Capital Gains Tax rates have increased for disposals from 30 October 2024, with further changes ahead. Stay informed on the updated rates for assets, property, and reliefs to optimise your tax The post Capital Gains Tax – the new rates appeared first on Feldon Accountancy. Thu, 02 Jan 2025 04:00:00 GMT https://www.feldonaccountancy.co.uk/2025/01/capital-gains-tax-the-new-rates thumbnail https://www.feldonaccountancy.co.uk/2024/12/vat-reverse-charge-in-construction-what-you-need-to-know Navigating VAT in the construction industry can feel like untangling scaffolding. Enter the VAT reverse charge—special rules that mean sub-contractors no longer charge VAT on services but The post VAT Reverse Charge in Construction: What You Need to Know appeared first on Feldon Accountancy. Thu, 19 Dec 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/12/vat-reverse-charge-in-construction-what-you-need-to-know thumbnail https://www.feldonaccountancy.co.uk/2024/12/when-can-you-recover-vat-on-a-car-purchase Reclaiming VAT on company cars isn’t as simple as it sounds. Generally, businesses can’t recover VAT unless the car is used exclusively for business purposes. But there are exceptions—like The post When can you recover VAT on a car purchase appeared first on Feldon Accountancy. Thu, 19 Dec 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/12/when-can-you-recover-vat-on-a-car-purchase thumbnail https://www.feldonaccountancy.co.uk/2024/12/new-online-tax-tools-for-the-self-employed Navigating tax obligations can be daunting for small business owners and sole traders. To make life easier, HMRC has introduced new interactive tools, including a Sole Trader Setup Guide and VAT The post New online tax tools for the self-employed appeared first on Feldon Accountancy. Thu, 19 Dec 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/12/new-online-tax-tools-for-the-self-employed thumbnail https://www.feldonaccountancy.co.uk/2024/12/spreading-tax-payments-by-using-time-to-pay Can’t pay your tax bill in full by 31 January 2025? HMRC’s online Time to Pay system lets self-assessment taxpayers spread the cost over monthly instalments. With plans available for tax bills up to The post Spreading tax payments by using Time to Pay appeared first on Feldon Accountancy. Thu, 19 Dec 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/12/spreading-tax-payments-by-using-time-to-pay thumbnail https://www.feldonaccountancy.co.uk/2024/12/claiming-child-benefits-online Over one million parents have now claimed Child Benefit online or via the HMRC app, with 87% of new claims using this speedy service. If you've recently had a baby or a child joins your family, The post Claiming Child Benefits online appeared first on Feldon Accountancy. Thu, 19 Dec 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/12/claiming-child-benefits-online thumbnail https://www.feldonaccountancy.co.uk/2024/12/the-substantial-shareholdings-exemption For companies selling shares, the Substantial Shareholdings Exemption (SSE) can mean significant tax relief. Introduced in 2002 and simplified in 2017, this exemption allows qualifying gains on share The post The Substantial Shareholdings Exemption appeared first on Feldon Accountancy. Thu, 19 Dec 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/12/the-substantial-shareholdings-exemption thumbnail https://www.feldonaccountancy.co.uk/2024/12/government-forces-water-companies-to-double-compensation The UK government has announced significant reforms to enhance compensation for customers affected by water service failures. Under new regulations, water companies will be mandated to increase The post Government Forces Water Companies to Double Compensation appeared first on Feldon Accountancy. Tue, 17 Dec 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/12/government-forces-water-companies-to-double-compensation thumbnail https://www.feldonaccountancy.co.uk/2024/12/why-protecting-intellectual-property-is-important Intellectual property (IP) refers to creations of the mind, such as inventions, literary works, designs, brand names, and artistic outputs. Whether you are a business owner, inventor, writer, or The post Why Protecting Intellectual Property is Important appeared first on Feldon Accountancy. Tue, 17 Dec 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/12/why-protecting-intellectual-property-is-important thumbnail https://www.feldonaccountancy.co.uk/2024/12/just-because-an-employee-is-a-lawful-resident-of-the-uk-does-not-give-them-the-right-to-work A restaurant in Middlesborough recently challenged a civil penalty notice of £15,000 issued by the Secretary of State for the Home Department under Section 15 of the Immigration Asylum and Nationality The post Just because an employee is a lawful resident of the UK does not give them the right to work appeared first on Feldon Accountancy. Mon, 16 Dec 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/12/just-because-an-employee-is-a-lawful-resident-of-the-uk-does-not-give-them-the-right-to-work thumbnail https://www.feldonaccountancy.co.uk/2024/12/self-assessment-scam-warning Scammers are on the rise as the Self-Assessment deadline nears! HMRC warns that HMRC never emails or texts about tax refunds. Stay alert, report suspicious contacts, and protect your money from The post Self-assessment scam warning appeared first on Feldon Accountancy. Thu, 12 Dec 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/12/self-assessment-scam-warning thumbnail https://www.feldonaccountancy.co.uk/2024/12/could-you-claim-rd-relief From April 2024, UK businesses can access enhanced R&D tax relief through the merged RDEC and new ERIS schemes. With generous deductions and credits for R&D-intensive projects, the schemes The post Could you claim R&D relief? appeared first on Feldon Accountancy. Thu, 12 Dec 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/12/could-you-claim-rd-relief thumbnail https://www.feldonaccountancy.co.uk/2024/12/scottish-budget-statement-2025-26 Scotland’s 2024 Budget delivers on public priorities with investments in services, poverty reduction, and economic growth. Tax rates stay frozen, but bands shift to protect low incomes. A hopeful step The post Scottish Budget Statement 2025-26 appeared first on Feldon Accountancy. Thu, 12 Dec 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/12/scottish-budget-statement-2025-26 thumbnail https://www.feldonaccountancy.co.uk/2024/12/are-you-eligible-to-claim-the-marriage-allowance Could you save up to £1,260 in tax this year? If one of you earns less than £12,570, the Marriage Allowance lets couples transfer unused personal allowances. Don't miss out on this easy tax The post Are you eligible to claim the Marriage Allowance? appeared first on Feldon Accountancy. Thu, 12 Dec 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/12/are-you-eligible-to-claim-the-marriage-allowance thumbnail https://www.feldonaccountancy.co.uk/2024/12/no-tax-changes-for-online-sellers Selling online? From 2024, digital platforms must report your information to HMRC if sales exceed £1,700 or 30 goods a year. Casual sellers are exempt, but regular traders may need to register for The post No tax changes for online sellers appeared first on Feldon Accountancy. Thu, 12 Dec 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/12/no-tax-changes-for-online-sellers thumbnail https://www.feldonaccountancy.co.uk/2024/12/iht-nil-rate-band-reduction-for-large-estates Married couples and civil partners may be able to pass on up to £1 million of their estate tax-free with the Residence Nil Rate Band. Claiming this transferable allowance could secure your family home The post IHT nil rate band reduction for large estates appeared first on Feldon Accountancy. Thu, 12 Dec 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/12/iht-nil-rate-band-reduction-for-large-estates thumbnail https://www.feldonaccountancy.co.uk/2024/12/launch-your-dream-business-10-must-know-steps Starting your own business is exciting but can be overwhelming if you’re not prepared. To help you navigate the journey, we’ve compiled a list of 10 key considerations that will set you up for The post Launch Your Dream Business: 10 Must-Know Steps appeared first on Feldon Accountancy. Mon, 09 Dec 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/12/launch-your-dream-business-10-must-know-steps thumbnail https://www.feldonaccountancy.co.uk/2024/12/government-unlocks-success-for-small-businesses Small businesses across the UK can now access streamlined support and advice through the newly launched Business Growth Service, designed to simplify and enhance the way SMEs engage with government The post Government Unlocks Success for Small Businesses appeared first on Feldon Accountancy. Mon, 09 Dec 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/12/government-unlocks-success-for-small-businesses thumbnail https://www.feldonaccountancy.co.uk/2024/12/tax-if-you-live-abroad-and-sell-uk-home One of the most commonly used and valuable exemptions from Capital Gains Tax (CGT) is for the sale of a family home. Generally, there is no CGT on a property that has been used as your main family The post Tax if you live abroad and sell UK home appeared first on Feldon Accountancy. Thu, 05 Dec 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/12/tax-if-you-live-abroad-and-sell-uk-home thumbnail https://www.feldonaccountancy.co.uk/2024/12/vat-flat-rate-scheme-overview The VAT Flat Rate Scheme allows businesses to pay VAT as a fixed percentage of their total turnover, which includes VAT. The applicable percentage varies based on the business type. This scheme is The post VAT Flat Rate Scheme overview appeared first on Feldon Accountancy. Thu, 05 Dec 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/12/vat-flat-rate-scheme-overview thumbnail https://www.feldonaccountancy.co.uk/2024/12/protect-your-land-and-property-from-fraud It is important to take the necessary steps to protect your land and property from fraud. You are at a higher risk if: Your identity has been stolen You rent out your property You live The post Protect your land and property from fraud appeared first on Feldon Accountancy. Thu, 05 Dec 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/12/protect-your-land-and-property-from-fraud thumbnail https://www.feldonaccountancy.co.uk/2024/12/transfers-of-assets-abroad A new rule aimed at preventing individuals from using companies to avoid taxes through the Transfer of Assets Abroad (ToAA) provisions applies to income arising to persons abroad on and after 6 April The post Transfers of assets abroad appeared first on Feldon Accountancy. Thu, 05 Dec 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/12/transfers-of-assets-abroad thumbnail https://www.feldonaccountancy.co.uk/2024/12/how-to-interpret-your-tax-code The letters in your tax code indicate whether you are entitled to the annual tax-free personal allowance. These codes are updated each year and help employers calculate how much tax should be deducted The post How to interpret your tax code appeared first on Feldon Accountancy. Thu, 05 Dec 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/12/how-to-interpret-your-tax-code thumbnail https://www.feldonaccountancy.co.uk/2024/12/apply-for-or-locate-a-national-insurance-number If you have lost or forgotten your National Insurance number, there are several ways to retrieve it. You can find your National Insurance number: On a document you already possess, such as a P60, The post Apply for or locate a National Insurance number appeared first on Feldon Accountancy. Thu, 05 Dec 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/12/apply-for-or-locate-a-national-insurance-number thumbnail https://www.feldonaccountancy.co.uk/2024/12/tax-diary-january-february-2025 1 January 2025 - Due date for Corporation Tax due for the year ended 31 March 2024 19 January 2025 - PAYE and NIC deductions due for month ended 5 January 2025. (If you pay your tax electronically The post Tax Diary January/February 2025 appeared first on Feldon Accountancy. Tue, 03 Dec 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/12/tax-diary-january-february-2025 thumbnail https://www.feldonaccountancy.co.uk/2024/12/when-it-comes-to-pensions-it-is-of-paramount-importance-to-re-doc-on-time A tribunal recently ruled on the failure of a private limited company, El Recruitment Ltd., to submit its Re-DOC before the statutory deadline as required under the 'Employer Duties' of the Pensions The post When it comes to pensions, it is of paramount importance to Re-DOC on time! appeared first on Feldon Accountancy. Tue, 03 Dec 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/12/when-it-comes-to-pensions-it-is-of-paramount-importance-to-re-doc-on-time thumbnail https://www.feldonaccountancy.co.uk/2024/12/fuel-prices-report-by-competition-and-markets-authority-cma Fuel margins of retailers - the difference between what a retailer pays for its fuel and what it sells at - remain around the high levels seen during the CMA’s road fuel market study. Supermarket The post Fuel prices report by Competition and Markets Authority (CMA) appeared first on Feldon Accountancy. Mon, 02 Dec 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/12/fuel-prices-report-by-competition-and-markets-authority-cma thumbnail https://www.feldonaccountancy.co.uk/2024/12/the-likely-effects-of-employers-nic-increases-in-2025 The upcoming increase in Employers’ National Insurance Contributions (NICs) is set to have significant repercussions for UK businesses. Employers’ NICs are essentially a tax on wages, paid by The post The Likely Effects of Employers’ NIC Increases in 2025 appeared first on Feldon Accountancy. Mon, 02 Dec 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/12/the-likely-effects-of-employers-nic-increases-in-2025 thumbnail https://www.feldonaccountancy.co.uk/2024/11/gifts-of-land-and-buildings-to-charities There are special rules in place for taxpayers who make gifts of land and buildings to charity. This can include Income Tax and Capital Gains Tax (CGT) relief provided all the necessary conditions are The post Gifts of land and buildings to charities appeared first on Feldon Accountancy. Thu, 28 Nov 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/11/gifts-of-land-and-buildings-to-charities thumbnail https://www.feldonaccountancy.co.uk/2024/11/changes-to-cgt-investors-relief The rate of Capital Gains Tax (CGT) for Investors’ Relief will rise from 10% to 14% for disposals made on or after 6 April 2025. It will then increase further to 18% for disposals made on or after 6 The post Changes to CGT Investors’ Relief appeared first on Feldon Accountancy. Thu, 28 Nov 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/11/changes-to-cgt-investors-relief thumbnail https://www.feldonaccountancy.co.uk/2024/11/approaching-the-vat-registration-threshold When approaching the VAT registration threshold there are important matters to consider. The VAT registration threshold is the point at which businesses must register for VAT with HMRC. A business The post Approaching the VAT registration threshold appeared first on Feldon Accountancy. Thu, 28 Nov 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/11/approaching-the-vat-registration-threshold thumbnail https://www.feldonaccountancy.co.uk/2024/11/how-council-tax-is-calculated To calculate your Council Tax, you need to know the following: The valuation band of your property in England, Wales, or Scotland The amount your local council charges for that band Whether you The post How Council Tax is calculated appeared first on Feldon Accountancy. Thu, 28 Nov 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/11/how-council-tax-is-calculated thumbnail https://www.feldonaccountancy.co.uk/2024/11/landlords-with-undeclared-income The Let Property Campaign provides landlords who have undeclared income from residential property lettings in the UK or abroad with an opportunity to regularise their affairs by disclosing any The post Landlords with undeclared Income appeared first on Feldon Accountancy. Thu, 28 Nov 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/11/landlords-with-undeclared-income thumbnail https://www.feldonaccountancy.co.uk/2024/11/seven-year-rule-still-applies-iht-pets There are specific rules regarding the liability to Inheritance Tax (IHT) on gifts made during a person's lifetime. In most cases, gifts made during a person’s life are not taxed at the time they are The post Seven year rule still applies – IHT PETs appeared first on Feldon Accountancy. Thu, 28 Nov 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/11/seven-year-rule-still-applies-iht-pets thumbnail https://www.feldonaccountancy.co.uk/2024/11/what-are-your-concerns According to the Office for National Statistics as of October 2024, the primary concerns among individuals in the UK are: National Health Service (NHS): 85% of adults identified the NHS as a The post What are your concerns? appeared first on Feldon Accountancy. Mon, 25 Nov 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/11/what-are-your-concerns thumbnail https://www.feldonaccountancy.co.uk/2024/11/what-does-ebitda-stand-for EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortisation. It's a widely used financial metric that provides a measure of a company's operating performance, excluding the The post What does EBITDA stand for? appeared first on Feldon Accountancy. Mon, 25 Nov 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/11/what-does-ebitda-stand-for thumbnail https://www.feldonaccountancy.co.uk/2024/11/close-company-anti-avoidance-measure As part of the Autumn 2024 Budget measures, the government introduced new anti-avoidance provisions to prevent the abuse of the existing close company anti-avoidance rule. The measure will have effect The post Close company anti-avoidance measure appeared first on Feldon Accountancy. Thu, 21 Nov 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/11/close-company-anti-avoidance-measure thumbnail https://www.feldonaccountancy.co.uk/2024/11/changes-to-rates-of-tax-on-carried-interest The 18% and 28% Capital Gains Tax (CGT) rates currently applied to carried interest gains remain unchanged for the current tax year. This charge applies to individuals who provide investment The post Changes to rates of tax on carried interest appeared first on Feldon Accountancy. Thu, 21 Nov 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/11/changes-to-rates-of-tax-on-carried-interest thumbnail https://www.feldonaccountancy.co.uk/2024/11/applying-for-business-start-up-loans Securing funding for a new startup is one of the most critical steps in ensuring the success of a business venture. However, obtaining financing can often be challenging. For instance, traditional The post Applying for business start-up loans appeared first on Feldon Accountancy. Thu, 21 Nov 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/11/applying-for-business-start-up-loans thumbnail https://www.feldonaccountancy.co.uk/2024/11/making-tax-digital-the-next-step The mandatory rollout of Making Tax Digital (MTD) for Income Tax is set to begin in April 2026. MTD for ITSA will bring substantial changes to how businesses, self-employed individuals, and landlords The post Making Tax Digital – the next step appeared first on Feldon Accountancy. Thu, 21 Nov 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/11/making-tax-digital-the-next-step thumbnail https://www.feldonaccountancy.co.uk/2024/11/car-and-van-fuel-benefit-charges-from-6-april-2025 The vehicle benefit charges for 2024-25 were announced at Autumn Budget 2024. The government will introduce legislation by statutory instrument in December 2024 to ensure the changes are reflected in The post Car and van fuel benefit charges from 6 April 2025 appeared first on Feldon Accountancy. Thu, 21 Nov 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/11/car-and-van-fuel-benefit-charges-from-6-april-2025 thumbnail https://www.feldonaccountancy.co.uk/2024/11/what-is-a-discretionary-trust A trust is an obligation that binds a trustee, an individual or a company, to deal with assets such as land, money and shares and which form part of the trust. The person who places assets into a The post What is a discretionary trust? appeared first on Feldon Accountancy. Thu, 21 Nov 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/11/what-is-a-discretionary-trust thumbnail https://www.feldonaccountancy.co.uk/2024/11/bolt-ruling-seals-the-case-against-sham-contracts Despite an appeal, the Courts recently found against Bolt in relation to their attempts to evade the statutory entitlements of their drivers to a minimum wage and holiday pay. The ruling confirms The post Bolt ruling seals the case against sham contracts appeared first on Feldon Accountancy. Tue, 19 Nov 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/11/bolt-ruling-seals-the-case-against-sham-contracts thumbnail https://www.feldonaccountancy.co.uk/2024/11/subscription-scams New proposals to crack down on subscription traps, have been unveiled by the Department for Business and Trade as the government launches a consultation on measures to make it easier for consumers to The post Subscription scams appeared first on Feldon Accountancy. Mon, 18 Nov 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/11/subscription-scams thumbnail https://www.feldonaccountancy.co.uk/2024/11/what-is-an-acceptable-pensions-income Determining an acceptable level of pension income for retirement depends on individual circumstances, including lifestyle expectations, health, and financial commitments. However, several guidelines The post What is an acceptable pensions income? appeared first on Feldon Accountancy. Mon, 18 Nov 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/11/what-is-an-acceptable-pensions-income thumbnail https://www.feldonaccountancy.co.uk/2024/11/hmrc-promotes-its-app HMRC has been busy promoting the benefits of using its app. A new advertising campaign launched by HMRC is targeted at 18 to 34 year olds and showcases how the app can help them with their tax affairs The post HMRC promotes its app appeared first on Feldon Accountancy. Thu, 14 Nov 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/11/hmrc-promotes-its-app thumbnail https://www.feldonaccountancy.co.uk/2024/11/tax-changes-for-furnished-holiday-lets-property-owners The current tax benefits for the letting of properties as short-term holiday lets (known as Furnished Holiday Lets - FHL) is to be abolished from April 2025. The changes will take effect on or after 6 The post Tax changes for Furnished Holiday Lets property owners appeared first on Feldon Accountancy. Thu, 14 Nov 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/11/tax-changes-for-furnished-holiday-lets-property-owners thumbnail https://www.feldonaccountancy.co.uk/2024/11/how-to-claim-a-tax-refund If you believe you have overpaid tax to HMRC, you can typically claim a tax refund for the excess amount. The process for making a claim varies depending on factors such as whether you submit a The post How to claim a tax refund appeared first on Feldon Accountancy. Thu, 14 Nov 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/11/how-to-claim-a-tax-refund thumbnail https://www.feldonaccountancy.co.uk/2024/11/limits-on-income-tax-reliefs The limit on Income Tax reliefs has applied since 6 April 2013. This measure was the first time a limitation to existing reliefs had been introduced. The cap is set at the greater of 25% of income or The post Limits on Income Tax reliefs appeared first on Feldon Accountancy. Thu, 14 Nov 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/11/limits-on-income-tax-reliefs thumbnail https://www.feldonaccountancy.co.uk/2024/11/an-overview-of-salary-sacrifice-arrangements A salary sacrifice arrangement involves an agreement by an employee to lower their cash salary in exchange for non-cash benefits. Importantly, this reduction must not bring their earnings below the The post An overview of salary sacrifice arrangements appeared first on Feldon Accountancy. Thu, 14 Nov 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/11/an-overview-of-salary-sacrifice-arrangements thumbnail https://www.feldonaccountancy.co.uk/2024/11/types-of-tax-allowances-for-capital-expenditure Capital allowances enable businesses to claim tax relief on certain capital expenditures. Different rules apply to various types of capital expenditure, and the amount you can claim depends on the The post Types of tax allowances for capital expenditure appeared first on Feldon Accountancy. Thu, 14 Nov 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/11/types-of-tax-allowances-for-capital-expenditure thumbnail https://www.feldonaccountancy.co.uk/2024/11/bank-of-england-eases-base-rate-to-4-75 The Bank of England's recent decision to reduce the base rate to 4.75% brings several potential benefits to various sectors of the UK economy. Let's explore these advantages in detail. Reduced The post Bank of England eases base rate to 4.75% appeared first on Feldon Accountancy. Mon, 11 Nov 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/11/bank-of-england-eases-base-rate-to-4-75 thumbnail https://www.feldonaccountancy.co.uk/2024/11/ev-or-diesel-for-and-against When evaluating the annual running costs of electric vehicles (EVs) compared to diesel cars, several key factors come into play: fuel (or electricity) expenses, maintenance, insurance, taxation, and The post EV or diesel – for and against appeared first on Feldon Accountancy. Mon, 11 Nov 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/11/ev-or-diesel-for-and-against thumbnail https://www.feldonaccountancy.co.uk/2024/11/tax-diary-december-2024-january-2025 1 December 2024 - Due date for Corporation Tax payable for the year ended 28 February 2024. 19 December 2024 - PAYE and NIC deductions due for month ended 5 December 2024. (If you pay your tax The post Tax Diary December 2024/January 2025 appeared first on Feldon Accountancy. Fri, 08 Nov 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/11/tax-diary-december-2024-january-2025 thumbnail https://www.feldonaccountancy.co.uk/2024/11/changes-to-hicbc It was announced as part of the Autumn Budget measures that the government will not now proceed with the reform to base the High Income Child Benefit Charge (HICBC) on household incomes. To make it The post Changes to HICBC appeared first on Feldon Accountancy. Thu, 07 Nov 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/11/changes-to-hicbc thumbnail https://www.feldonaccountancy.co.uk/2024/11/budget-confirms-change-in-non-dom-tax-status It was confirmed as part of the Autumn Budget measures that changes announced by the previous government at the Spring Budget earlier this year will proceed almost entirely as initially announced. The post Budget confirms change in non-dom tax status appeared first on Feldon Accountancy. Thu, 07 Nov 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/11/budget-confirms-change-in-non-dom-tax-status thumbnail https://www.feldonaccountancy.co.uk/2024/11/help-to-save-scheme-extended As part of the recent Budget measures, it has been confirmed that the Help to Save scheme is to be extended by a further 2 years, until April 2027. The last date an account can be opened under the The post Help to Save scheme extended appeared first on Feldon Accountancy. Thu, 07 Nov 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/11/help-to-save-scheme-extended thumbnail https://www.feldonaccountancy.co.uk/2024/11/taxation-of-double-cab-pick-ups The tax treatment of double cab pick-up vehicles (DCPUs) has been clarified as part of the recent Budget announcements. This follows a chequered history of the tax treatment of DCPUs after a 2020 The post Taxation of double cab pick-ups appeared first on Feldon Accountancy. Thu, 07 Nov 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/11/taxation-of-double-cab-pick-ups thumbnail https://www.feldonaccountancy.co.uk/2024/11/payrolling-of-benefits-in-kind At Autumn Budget 2024, the government confirmed that it will go ahead with a simplification measure first announced in January 2024. This new measure will mandate the reporting of Income Tax and Class The post Payrolling of benefits in kind appeared first on Feldon Accountancy. Thu, 07 Nov 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/11/payrolling-of-benefits-in-kind thumbnail https://www.feldonaccountancy.co.uk/2024/11/changes-to-agricultural-and-business-property-relief It was announced as part of the Budget measures that the government will reform these reliefs from 6 April 2026. The existing 100% rates of relief will be maintained for the first £1 million of The post Changes to Agricultural and Business Property Relief appeared first on Feldon Accountancy. Thu, 07 Nov 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/11/changes-to-agricultural-and-business-property-relief thumbnail https://www.feldonaccountancy.co.uk/2024/11/rd-receives-a-welcome-boost-in-the-budget As part of the October Budget the Chancellor announced the highest ever level of government investment of £20.4 billion in research and development for next year, reinforcing the government’s The post R&D receives a welcome boost in the Budget appeared first on Feldon Accountancy. Mon, 04 Nov 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/11/rd-receives-a-welcome-boost-in-the-budget thumbnail https://www.feldonaccountancy.co.uk/2024/11/keeping-an-eye-on-competitors Keeping an eye on competitors offers crucial advantages, especially in a dynamic market. Here’s why it pays off: Improving Market Positioning By observing competitor pricing, branding, and marketing The post Keeping an eye on competitors appeared first on Feldon Accountancy. Mon, 04 Nov 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/11/keeping-an-eye-on-competitors thumbnail https://www.feldonaccountancy.co.uk/2024/10/autumn-budget-2024-capital-gains-tax In the Budget it was announced that the rates of Capital Gains Tax (CGT) are to be increased with immediate effect. The main rates of CGT that apply to assets other than residential property and The post Autumn Budget 2024 – Capital Gains Tax appeared first on Feldon Accountancy. Thu, 31 Oct 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/10/autumn-budget-2024-capital-gains-tax thumbnail https://www.feldonaccountancy.co.uk/2024/10/autumn-budget-2024-alcohol-and-tobacco-duty As part of the Autumn Budget measures the Chancellor announced that the duty rates on tobacco products were increased by 2% above the rate of inflation (based on RPI) effective from 6pm on 30 October The post Autumn Budget 2024 – Alcohol and Tobacco Duty appeared first on Feldon Accountancy. Thu, 31 Oct 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/10/autumn-budget-2024-alcohol-and-tobacco-duty thumbnail https://www.feldonaccountancy.co.uk/2024/10/autumn-budget-2024-fuel-duty-rates In the Autumn Budget, the Chancellor had been widely expected to increase fuel duty rates. However, in a surprise announcement she extended the fuel duty cut for a further 12 months to help support The post Autumn Budget 2024 – Fuel Duty rates appeared first on Feldon Accountancy. Thu, 31 Oct 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/10/autumn-budget-2024-fuel-duty-rates thumbnail https://www.feldonaccountancy.co.uk/2024/10/autumn-budget-2024-higher-rates-of-sdlt It was announced as part of the Budget measures that the higher rates of Stamp Duty Land Tax (SDLT) on purchases of additional residential properties will increase to 5% (from 3%) for transactions The post Autumn Budget 2024 – Higher rates of SDLT appeared first on Feldon Accountancy. Thu, 31 Oct 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/10/autumn-budget-2024-higher-rates-of-sdlt thumbnail https://www.feldonaccountancy.co.uk/2024/10/autumn-budget-2024-minimum-wage-increases The Chancellor of the Exchequer, Rachel Reeves announced significant increases to the Minimum Wage rates on the eve of the Budget. The Chancellor confirmed that the government has accepted in full the The post Autumn Budget 2024 – Minimum Wage increases appeared first on Feldon Accountancy. Thu, 31 Oct 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/10/autumn-budget-2024-minimum-wage-increases thumbnail https://www.feldonaccountancy.co.uk/2024/10/autumn-budget-2024-inheritance-tax-changes A number of changes to Inheritance Tax (IHT) were announced as part of the Budget measures. We have covered each of the main measures below. It should be noted that these changes are not coming into The post Autumn Budget 2024 – Inheritance Tax changes appeared first on Feldon Accountancy. Thu, 31 Oct 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/10/autumn-budget-2024-inheritance-tax-changes thumbnail https://www.feldonaccountancy.co.uk/2024/10/autumn-budget-2024-nic-changes As had been widely predicted, the Chancellor announced increases to the rate of National Insurance contributions (NICs) that are paid by employers. The main rate of secondary Class 1 NICs will The post Autumn Budget 2024 – NIC changes appeared first on Feldon Accountancy. Thu, 31 Oct 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/10/autumn-budget-2024-nic-changes thumbnail https://www.feldonaccountancy.co.uk/2024/10/budget-summary-30-october-2024 The long awaited, much anticipated and dreaded first Budget of the new Labour government was delivered to Parliament today - 30 October 2024 - by the Chancellor, Rachel Reeves. We now know where the The post Budget summary 30 October 2024 appeared first on Feldon Accountancy. Wed, 30 Oct 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/10/budget-summary-30-october-2024 thumbnail https://www.feldonaccountancy.co.uk/2024/10/is-income-tax-morphing-into-a-stealth-tax It is rumoured that the Chancellor will delay any increase in the Income Tax higher rate tax threshold beyond the present April 2028 freeze. The UK Income Tax higher-rate threshold was last increased The post Is Income Tax morphing into a stealth tax? appeared first on Feldon Accountancy. Mon, 28 Oct 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/10/is-income-tax-morphing-into-a-stealth-tax thumbnail https://www.feldonaccountancy.co.uk/2024/10/crackdown-on-insurance-fraud Insurance companies have united to step up efforts to crack down on fraudsters seeking to manipulate the UK insurance market with bogus claims and duping innocent people into buying fake insurance The post Crackdown on insurance fraud appeared first on Feldon Accountancy. Mon, 28 Oct 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/10/crackdown-on-insurance-fraud thumbnail https://www.feldonaccountancy.co.uk/2024/10/changing-a-companys-year-end-date There are specific rules that restrict changing a company’s year-end date, also known as the "accounting reference date". Initially, this is based on the date of incorporation. Under certain The post Changing a company’s year end date appeared first on Feldon Accountancy. Thu, 24 Oct 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/10/changing-a-companys-year-end-date thumbnail https://www.feldonaccountancy.co.uk/2024/10/hmrc-shares-5-common-reasons-for-helpline-calls There are a little over three months remaining to file your self-assessment tax return online for 2023-24. The deadline is 31 January 2025. As this date approaches, an increasing number of individuals The post HMRC shares 5 common reasons for helpline calls appeared first on Feldon Accountancy. Thu, 24 Oct 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/10/hmrc-shares-5-common-reasons-for-helpline-calls thumbnail https://www.feldonaccountancy.co.uk/2024/10/changing-your-tax-return If you have submitted a self-assessment return and later realise you need to make changes, there are specific rules to follow. This situation might arise if, for instance, you entered a number The post Changing your tax return appeared first on Feldon Accountancy. Thu, 24 Oct 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/10/changing-your-tax-return thumbnail https://www.feldonaccountancy.co.uk/2024/10/vat-recovery-from-car-leasing-payments The VAT treatment of motor expenses is an important concern for any business that incurs VAT on these costs. Below, we highlight key points to consider regarding the recovery of input tax (VAT) when The post VAT recovery from car leasing payments appeared first on Feldon Accountancy. Thu, 24 Oct 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/10/vat-recovery-from-car-leasing-payments thumbnail https://www.feldonaccountancy.co.uk/2024/10/due-date-for-paper-self-assessment-tax-return A final reminder that the 2023-24 tax return deadline for taxpayers who continue to submit paper self-assessment returns is 31 October 2024. Late submission of a self-assessment return will incur a The post Due date for paper self-assessment tax return appeared first on Feldon Accountancy. Thu, 24 Oct 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/10/due-date-for-paper-self-assessment-tax-return thumbnail https://www.feldonaccountancy.co.uk/2024/10/take-goods-with-you-to-sell-abroad There are specific customs requirements for commercial goods that you take with you to sell abroad. You must declare any goods intended for sale outside the UK, whether they are in your baggage or a The post Take goods with you to sell abroad appeared first on Feldon Accountancy. Thu, 24 Oct 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/10/take-goods-with-you-to-sell-abroad thumbnail https://www.feldonaccountancy.co.uk/2024/10/managing-business-cashflow Cash Flow Forecasting Creating a cash flow forecast helps you predict your inflows and outflows, allowing you to anticipate any cash shortages. Update it regularly, be conservative in estimates, and The post Managing business cashflow appeared first on Feldon Accountancy. Mon, 21 Oct 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/10/managing-business-cashflow thumbnail https://www.feldonaccountancy.co.uk/2024/10/recent-speculation-on-forthcoming-budget There is unlikely to be much to celebrate when Rachel Reeves delivers her first Budget on the 30th of October. Speculation is rife regarding the likely targets for tax increases. We have listed a few The post Recent speculation on forthcoming Budget appeared first on Feldon Accountancy. Mon, 21 Oct 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/10/recent-speculation-on-forthcoming-budget thumbnail https://www.feldonaccountancy.co.uk/2024/10/deferring-class-1-nic-contributions Employees with more than one job may be eligible to defer or delay paying Class 1 National Insurance in certain situations. This deferment can be considered if any of the following apply: You pay The post Deferring Class 1 NIC contributions appeared first on Feldon Accountancy. Thu, 17 Oct 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/10/deferring-class-1-nic-contributions thumbnail https://www.feldonaccountancy.co.uk/2024/10/boosting-your-state-pension HMRC has issued a new press release reminding readers of a limited-time opportunity to enhance their State Pension. Currently, there is an opportunity for affected individuals to address gaps in their The post Boosting your State Pension appeared first on Feldon Accountancy. Thu, 17 Oct 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/10/boosting-your-state-pension thumbnail https://www.feldonaccountancy.co.uk/2024/10/class-4-national-insurance-payments Self-employed individuals are usually required to pay Class 4 National Insurance contributions (NICs) if their annual profits exceed £12,570. For the 2024-25 tax year, Class 4 NIC rates are set at 6% The post Class 4 National Insurance payments appeared first on Feldon Accountancy. Thu, 17 Oct 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/10/class-4-national-insurance-payments thumbnail https://www.feldonaccountancy.co.uk/2024/10/who-qualifies-for-tax-free-childcare The Tax-Free Childcare (TFC) scheme helps working families manage childcare costs by providing support through a wide network of registered providers, including childminders, breakfast and The post Who qualifies for Tax-Free Childcare? appeared first on Feldon Accountancy. Thu, 17 Oct 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/10/who-qualifies-for-tax-free-childcare thumbnail https://www.feldonaccountancy.co.uk/2024/10/payments-on-account-for-self-assessment Self-assessment taxpayers typically need to pay their Income Tax liabilities in three instalments each year. The first two payments on account are due by 31 January during the tax year and by the 31 The post Payments on account for self-assessment appeared first on Feldon Accountancy. Thu, 17 Oct 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/10/payments-on-account-for-self-assessment thumbnail https://www.feldonaccountancy.co.uk/2024/10/pension-fund-withdrawal-options Most personal pensions set a minimum age at which you can start withdrawing money, typically not before age 55. Some pension benefits can be taken tax-free. Generally, you can withdraw 25% of your The post Pension fund withdrawal options appeared first on Feldon Accountancy. Thu, 17 Oct 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/10/pension-fund-withdrawal-options thumbnail https://www.feldonaccountancy.co.uk/2024/10/new-brooms-to-deliver-better-pension-frameworks The Department for Work and Pensions has published an outline of the new Pensions Scheme Bill. There are three main objectives that the government want to achieve, and they are set out below. However, The post New brooms to deliver better pension frameworks appeared first on Feldon Accountancy. Mon, 14 Oct 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/10/new-brooms-to-deliver-better-pension-frameworks thumbnail https://www.feldonaccountancy.co.uk/2024/10/an-outline-of-the-employment-rights-bill Legislation has been introduced in Parliament to upgrade UK workers’ rights. The legislation is wide ranging with the intention of tackling poor working conditions and benefitting businesses. A The post An outline of the Employment Rights Bill appeared first on Feldon Accountancy. Mon, 14 Oct 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/10/an-outline-of-the-employment-rights-bill thumbnail https://www.feldonaccountancy.co.uk/2024/10/will-10-tax-on-business-disposals-survive While there have been no specific announcements regarding changes to Business Asset Disposal Relief (BADR), the Chancellor may consider modifying this relief in the upcoming Budget. If you are The post Will 10% tax on business disposals survive? appeared first on Feldon Accountancy. Thu, 10 Oct 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/10/will-10-tax-on-business-disposals-survive thumbnail https://www.feldonaccountancy.co.uk/2024/10/construction-industry-vat-reverse-charge There are special VAT reverse charge rules in place for certain building contractors and sub-contractors. These regulations, which came into effect on 1 March 2021, make the supply of most The post Construction industry – VAT reverse charge appeared first on Feldon Accountancy. Thu, 10 Oct 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/10/construction-industry-vat-reverse-charge thumbnail https://www.feldonaccountancy.co.uk/2024/10/chancellor-unveils-new-measures Chancellor Rachel Reeves has recently introduced a series of new measures aimed at advancing the priorities of the new government. The key announcements include: New funding for breakfast clubs at The post Chancellor unveils new measures appeared first on Feldon Accountancy. Thu, 10 Oct 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/10/chancellor-unveils-new-measures thumbnail https://www.feldonaccountancy.co.uk/2024/10/using-the-gov-uk-id-check-app The GOV.UK ID Check app is used to allow applicants to verify their identify when they sign in to a government service with GOV.UK One Login. Once this had been completed satisfactorily, your identity The post Using the GOV.UK ID Check app appeared first on Feldon Accountancy. Thu, 10 Oct 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/10/using-the-gov-uk-id-check-app thumbnail https://www.feldonaccountancy.co.uk/2024/10/new-powers-for-banks-to-combat-fraudsters Banks will be granted new powers to delay and investigate payments suspected of fraud, enhancing consumer protection against scammers. Under new laws being proposed by the Government, banks will be The post New powers for banks to combat fraudsters appeared first on Feldon Accountancy. Thu, 10 Oct 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/10/new-powers-for-banks-to-combat-fraudsters thumbnail https://www.feldonaccountancy.co.uk/2024/10/service-tipping-law-now-in-force New regulations that prohibit employers from withholding tips for employees in the hospitality, leisure, and services sectors took effect on 1 October 2024. This change follows the enactment of The The post Service tipping law now in force appeared first on Feldon Accountancy. Thu, 10 Oct 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/10/service-tipping-law-now-in-force thumbnail https://www.feldonaccountancy.co.uk/2024/10/new-residence-based-relief-for-non-doms A reminder that the government has stated that it will remove preferential tax treatment based on domicile status for all new foreign income and gains (FIG) that arise from 6 April 2025. To replace The post New residence-based relief for non-doms appeared first on Feldon Accountancy. Wed, 09 Oct 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/10/new-residence-based-relief-for-non-doms thumbnail https://www.feldonaccountancy.co.uk/2024/10/government-crack-down-on-late-payers The government has unveiled new measures to support small businesses and the self-employed by tackling the scourge of late payments, which according to the Smart Data Foundry is costing SMEs £22,000 a The post Government crack-down on late payers appeared first on Feldon Accountancy. Wed, 09 Oct 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/10/government-crack-down-on-late-payers thumbnail https://www.feldonaccountancy.co.uk/2024/10/tax-diary-november-december-2024 1 November 2024 - Due date for Corporation Tax due for the year ended 31 January 2024. 19 November 2024 - PAYE and NIC deductions due for month ended 5 November 2024. (If you pay your tax The post Tax Diary November/December 2024 appeared first on Feldon Accountancy. Mon, 07 Oct 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/10/tax-diary-november-december-2024 thumbnail https://www.feldonaccountancy.co.uk/2024/10/check-your-state-pension-age HMRC’s 'Check your State Pension age' tool is available at www.gov.uk/state-pension-age/y. The online tool allows taxpayers to check the following: the earliest age they can start receiving the The post Check your State Pension age appeared first on Feldon Accountancy. Thu, 03 Oct 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/10/check-your-state-pension-age thumbnail https://www.feldonaccountancy.co.uk/2024/10/cash-in-child-trust-funds HMRC has issued a press release urging 18-22 year olds who have yet to claim their Child Trust Fund (CTF) cash to do so as soon as possible. According to HMRC, over 670,000 young adults in this age The post Cash in Child Trust Funds appeared first on Feldon Accountancy. Thu, 03 Oct 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/10/cash-in-child-trust-funds thumbnail https://www.feldonaccountancy.co.uk/2024/10/starter-checklist-for-paye When hiring a new employee, employers must determine the appropriate tax code and starter declaration for their payroll software. Using incorrect tax codes can result in the new employee over or The post Starter checklist for PAYE appeared first on Feldon Accountancy. Thu, 03 Oct 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/10/starter-checklist-for-paye thumbnail https://www.feldonaccountancy.co.uk/2024/10/when-you-must-register-for-vat The taxable turnover threshold for VAT registration is currently £90,000 and has applied since April 2024. Businesses must register for VAT if they meet one of the following conditions: At the end The post When you must register for VAT appeared first on Feldon Accountancy. Thu, 03 Oct 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/10/when-you-must-register-for-vat thumbnail https://www.feldonaccountancy.co.uk/2024/10/relief-for-company-tax-losses Corporation Tax relief may be available when a company or organisation incurs a trading loss, a loss on the sale or disposal of a capital asset, or on property income. Tax relief may be available to The post Relief for company tax losses appeared first on Feldon Accountancy. Thu, 03 Oct 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/10/relief-for-company-tax-losses thumbnail https://www.feldonaccountancy.co.uk/2024/10/tracing-lost-pension-details An online service is available on GOV.UK at www.gov.uk/find-pension-contact-details to help people find their lost pension funds. You can use this service to find contact details for: your own The post Tracing lost pension details appeared first on Feldon Accountancy. Thu, 03 Oct 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/10/tracing-lost-pension-details thumbnail https://www.feldonaccountancy.co.uk/2024/09/setting-up-a-civil-partnership Civil Partners enjoy the same tax and other advantages as married couples. To set up a civil partnership in England or Wales, both partners must be eligible, meaning they are over 18, not already The post Setting up a Civil Partnership appeared first on Feldon Accountancy. Mon, 30 Sep 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/09/setting-up-a-civil-partnership thumbnail https://www.feldonaccountancy.co.uk/2024/09/beware-fake-parking-fine-texts The Driver and Vehicle Standards Agency (DVSA) is warning that scammers are sending text messages about fake DVSA parking penalty charges. The text messages warn people that they have a ‘parking The post Beware fake parking fine texts appeared first on Feldon Accountancy. Mon, 30 Sep 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/09/beware-fake-parking-fine-texts thumbnail https://www.feldonaccountancy.co.uk/2024/09/current-rates-for-capital-gains-tax-cgt CGT is generally charged at a flat rate of 20% on most chargeable gains for individuals. However, if taxpayers are within the basic rate tax bracket and make a small capital gain, they may be eligible The post Current rates for Capital Gains Tax (CGT) appeared first on Feldon Accountancy. Thu, 26 Sep 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/09/current-rates-for-capital-gains-tax-cgt thumbnail https://www.feldonaccountancy.co.uk/2024/09/vat-group-registration There are special VAT rules that allow two or more companies or limited liability partnerships, commonly referred to as ‘bodies corporate’, to be treated as a single taxable person for VAT purposes The post VAT group registration appeared first on Feldon Accountancy. Thu, 26 Sep 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/09/vat-group-registration thumbnail https://www.feldonaccountancy.co.uk/2024/09/redundancy-pay-and-tax There is a tax-free limit of £30,000 for redundancy pay regardless of whether it is your statutory redundancy payment or a higher payment from your employer. If you have been employed for two years The post Redundancy pay and tax appeared first on Feldon Accountancy. Thu, 26 Sep 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/09/redundancy-pay-and-tax thumbnail https://www.feldonaccountancy.co.uk/2024/09/higher-rate-relief-pension-contributions You can typically claim tax relief on private pension contributions up to 100% of your annual earnings, subject to certain limits. Tax relief is applied at your highest rate of income tax, The post Higher rate relief pension contributions appeared first on Feldon Accountancy. Thu, 26 Sep 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/09/higher-rate-relief-pension-contributions thumbnail https://www.feldonaccountancy.co.uk/2024/09/gifts-and-inheritance-tax Most gifts made during a person’s lifetime are not subject to tax at the time of transfer. These gifts, known as "potentially exempt transfers" (PETs), can become fully exempt if the donor The post Gifts and Inheritance Tax appeared first on Feldon Accountancy. Thu, 26 Sep 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/09/gifts-and-inheritance-tax thumbnail https://www.feldonaccountancy.co.uk/2024/09/what-is-fiscal-drag The freezing of tax thresholds often leads to a phenomenon known as fiscal drag. When tax thresholds remain unchanged, taxpayers will likely pay more tax as their earnings rise without a corresponding The post What is fiscal drag? appeared first on Feldon Accountancy. Thu, 26 Sep 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/09/what-is-fiscal-drag thumbnail https://www.feldonaccountancy.co.uk/2024/09/business-cashflow The government offers the following information regarding business cashflow. If you do not have enough money coming in to pay for goods, services and taxes your company has, you are at risk of The post Business cashflow appeared first on Feldon Accountancy. Mon, 23 Sep 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/09/business-cashflow thumbnail https://www.feldonaccountancy.co.uk/2024/09/what-is-fuel-duty The Office for Budget Responsibility (OBR) has offered the following explanation: “Fuel duties are levied on purchases of petrol, diesel and a variety of other fuels. They represent a The post What is fuel duty? appeared first on Feldon Accountancy. Mon, 23 Sep 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/09/what-is-fuel-duty thumbnail https://www.feldonaccountancy.co.uk/2024/09/is-there-a-partnership-in-place A partnership is a reasonably straightforward way for two or more legal persons to establish and operate a business with the intent to make a profit. Partnerships can take various forms, and legal The post Is there a partnership in place? appeared first on Feldon Accountancy. Thu, 19 Sep 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/09/is-there-a-partnership-in-place thumbnail https://www.feldonaccountancy.co.uk/2024/09/fraudsters-impersonating-insolvency-service-staff The Insolvency Service is a government agency that provides services to those affected by financial distress or failure by seeking to tackle financial wrongdoing and maximising returns to creditors. The post Fraudsters impersonating Insolvency Service staff appeared first on Feldon Accountancy. Thu, 19 Sep 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/09/fraudsters-impersonating-insolvency-service-staff thumbnail https://www.feldonaccountancy.co.uk/2024/09/dont-miss-out-on-home-responsibilities-protection HMRC together with the Department for Work and Pensions (DWP) have issued a press release urging tens of thousands of people to check if they are eligible to boost their State Pension utilising Home The post Don’t miss out on Home Responsibilities Protection appeared first on Feldon Accountancy. Thu, 19 Sep 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/09/dont-miss-out-on-home-responsibilities-protection thumbnail https://www.feldonaccountancy.co.uk/2024/09/two-october-self-assessment-deadlines The deadline for submitting paper self-assessment tax returns for the 2023-24 tax year is 31 October 2024. Late submission of a self-assessment return will generate a £100 late filing penalty. The The post Two October self-assessment deadlines appeared first on Feldon Accountancy. Thu, 19 Sep 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/09/two-october-self-assessment-deadlines thumbnail https://www.feldonaccountancy.co.uk/2024/09/not-so-trivial-tax-benefits There is a trivial benefit-in-kind (BiK) exemption for small, non-cash employee benefits. This exemption applies to BiKs classified as 'trivial,' helping employers simplify the handling of these The post Not so Trivial Tax Benefits appeared first on Feldon Accountancy. Thu, 19 Sep 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/09/not-so-trivial-tax-benefits thumbnail https://www.feldonaccountancy.co.uk/2024/09/pension-credit-action-week Pension Credits can provide extra income to those over State Pension age and on a low income. The Department for Work and Pensions (DWP) recently launched a Pension Credit action week to boost take-up The post Pension Credit action week appeared first on Feldon Accountancy. Thu, 19 Sep 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/09/pension-credit-action-week thumbnail https://www.feldonaccountancy.co.uk/2024/09/trade-mark-protection To apply for trademark protection in the UK, you will need to follow these steps: Check if Your Trademark is Eligible Ensure your trademark is unique and not too similar to existing trademarks. A The post Trade Mark protection appeared first on Feldon Accountancy. Tue, 17 Sep 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/09/trade-mark-protection thumbnail https://www.feldonaccountancy.co.uk/2024/09/what-is-a-psc PSC stands for Person with Significant Control. It is a legal term used primarily in the United Kingdom under company law. A PSC is someone who holds significant influence or control over a company. The post What is a PSC? appeared first on Feldon Accountancy. Tue, 17 Sep 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/09/what-is-a-psc thumbnail https://www.feldonaccountancy.co.uk/2024/09/myths-about-self-assessment In a recent press release, HMRC addressed some common misconceptions about who needs to file a self-assessment return before the 31 January 2025 deadline and clarifies some of the most widespread The post Myths about self-assessment appeared first on Feldon Accountancy. Thu, 12 Sep 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/09/myths-about-self-assessment thumbnail https://www.feldonaccountancy.co.uk/2024/09/claims-to-reduce-payments-on-account Self-assessment taxpayers are usually required to pay their Income Tax liabilities in three instalments each year. The first two payments are due on 31 January during the tax year and 31 July The post Claims to reduce payments on account appeared first on Feldon Accountancy. Thu, 12 Sep 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/09/claims-to-reduce-payments-on-account thumbnail https://www.feldonaccountancy.co.uk/2024/09/mtd-for-income-tax-draws-closer The mandatory rollout of Making Tax Digital for Income Tax (MTD for ITSA) is scheduled to begin in April 2026. The process will significantly adjust how businesses, self-employed individuals, and The post MTD for Income Tax draws closer appeared first on Feldon Accountancy. Thu, 12 Sep 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/09/mtd-for-income-tax-draws-closer thumbnail https://www.feldonaccountancy.co.uk/2024/09/higher-rates-of-sdlt-on-residential-property The higher rates of Stamp Duty Land Tax (SDLT) were introduced on 1 April 2016 and apply to purchases of additional residential property such as buy to let properties and second homes. The higher rate The post Higher rates of SDLT on residential property appeared first on Feldon Accountancy. Thu, 12 Sep 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/09/higher-rates-of-sdlt-on-residential-property thumbnail https://www.feldonaccountancy.co.uk/2024/09/employing-an-apprentice There are special rules to observe when employing an apprentice in the UK. Basically, an apprentice takes part in a structured training program that combines working with studying. Apprentices gain The post Employing an apprentice appeared first on Feldon Accountancy. Thu, 12 Sep 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/09/employing-an-apprentice thumbnail https://www.feldonaccountancy.co.uk/2024/09/when-dividends-cannot-be-paid There is a basic principle that dividends or other distributions must not be paid out of capital even if the Articles of a company authorise such a payment. For the purposes of this article, reference The post When dividends cannot be paid appeared first on Feldon Accountancy. Thu, 12 Sep 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/09/when-dividends-cannot-be-paid thumbnail https://www.feldonaccountancy.co.uk/2024/09/beware-overtrading Overtrading occurs when a business expands its operations at a pace that exceeds its available working capital and financial resources. This can happen when a company takes on more business than it The post Beware overtrading appeared first on Feldon Accountancy. Mon, 09 Sep 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/09/beware-overtrading thumbnail https://www.feldonaccountancy.co.uk/2024/09/ask-for-advice Asking your accountant for advice offers a range of benefits, particularly in guiding both business and personal financial decisions. Here are some key advantages: Expert Financial The post Ask for advice appeared first on Feldon Accountancy. Mon, 09 Sep 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/09/ask-for-advice thumbnail https://www.feldonaccountancy.co.uk/2024/09/tax-diary-october-november-2024 1 October 2024 - Due date for Corporation Tax due for the year ended 31 December 2023. 19 October 2024 - PAYE and NIC deductions due for month ended 5 October 2024. (If you pay your tax The post Tax Diary October/November 2024 appeared first on Feldon Accountancy. Fri, 06 Sep 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/09/tax-diary-october-november-2024 thumbnail https://www.feldonaccountancy.co.uk/2024/09/claiming-child-trust-fund-cash If you turned 18 on or after 1 September 2020, there may be cash waiting for you in a dormant Child Trust Fund (CTF). If your children recently turned 18 you should check to see if they have claimed The post Claiming Child Trust Fund cash appeared first on Feldon Accountancy. Thu, 05 Sep 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/09/claiming-child-trust-fund-cash thumbnail https://www.feldonaccountancy.co.uk/2024/09/present-self-employed-nic-rates Most self-employed people are required to pay Class 4 National Insurance contributions (NICs) if their profits are £12,570 or more a year. Class 4 NIC rates for the tax year 2024-25 are 6% for The post Present self-employed NIC rates appeared first on Feldon Accountancy. Thu, 05 Sep 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/09/present-self-employed-nic-rates thumbnail https://www.feldonaccountancy.co.uk/2024/09/qualifying-for-business-asset-disposal-relief Business Asset Disposal Relief (BADR) applies to the sale of a business, shares in a trading company, or an individual’s interest in a trading partnership. When this relief is available, a reduced The post Qualifying for Business Asset Disposal Relief appeared first on Feldon Accountancy. Thu, 05 Sep 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/09/qualifying-for-business-asset-disposal-relief thumbnail https://www.feldonaccountancy.co.uk/2024/09/self-assessment-deadlines-2023-24 The deadline for submitting paper self-assessment tax returns for the 2023-24 tax year is 31 October 2024. If the return is submitted late, a £100 penalty will be imposed, regardless of whether there The post Self-assessment deadlines 2023-24 appeared first on Feldon Accountancy. Thu, 05 Sep 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/09/self-assessment-deadlines-2023-24 thumbnail https://www.feldonaccountancy.co.uk/2024/09/employing-under-16-year-olds-and-young-workers When a new employee is added to the payroll it is the employers' responsibility to ensure they meet the employees’ rights and deduct the correct amount of tax from their salary. This includes any The post Employing under 16-year-olds and young workers appeared first on Feldon Accountancy. Thu, 05 Sep 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/09/employing-under-16-year-olds-and-young-workers thumbnail https://www.feldonaccountancy.co.uk/2024/09/penalties-for-late-filing-of-company-accounts There are late filing penalties which are designed to encourage companies to file their accounts and reports on time. All companies, private and public, large or small, trading or non-trading must The post Penalties for late filing of company accounts appeared first on Feldon Accountancy. Thu, 05 Sep 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/09/penalties-for-late-filing-of-company-accounts thumbnail https://www.feldonaccountancy.co.uk/2024/09/what-is-the-new-national-wealth-fund The UK's new National Wealth Fund (NWF) represents a significant shift in the government's approach to fostering economic growth and addressing climate change. Established by the Labour government, The post What is the new National Wealth Fund appeared first on Feldon Accountancy. Tue, 03 Sep 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/09/what-is-the-new-national-wealth-fund thumbnail https://www.feldonaccountancy.co.uk/2024/09/could-an-interest-rate-reduction-reduce-government-expenditure A 1% reduction in the Bank Rate would reduce the UK government's annual interest charges on the national debt, but the exact amount of the reduction depends on the proportion of the debt that is The post Could an interest rate reduction reduce government expenditure? appeared first on Feldon Accountancy. Tue, 03 Sep 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/09/could-an-interest-rate-reduction-reduce-government-expenditure thumbnail https://www.feldonaccountancy.co.uk/2024/08/advising-hmrc-about-additional-income There is an online tool available on GOV.UK that allows taxpayers to check if they need to advise HMRC about additional income they receive. The online tool can be found at The post Advising HMRC about additional income appeared first on Feldon Accountancy. Thu, 29 Aug 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/08/advising-hmrc-about-additional-income thumbnail https://www.feldonaccountancy.co.uk/2024/08/medical-and-dental-care-for-employees There is no requirement for employers to pay tax and National Insurance on certain health benefits covered by tax concessions or exemptions. For example, there is no requirement to report employees’ The post Medical and dental care for employees appeared first on Feldon Accountancy. Thu, 29 Aug 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/08/medical-and-dental-care-for-employees thumbnail https://www.feldonaccountancy.co.uk/2024/08/carry-forward-a-company-trading-loss There are a significant number of reliefs available to businesses that suffer losses. Certain losses that your company has not used in any other way can be carried forwards against profits in future The post Carry forward a company trading loss appeared first on Feldon Accountancy. Thu, 29 Aug 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/08/carry-forward-a-company-trading-loss thumbnail https://www.feldonaccountancy.co.uk/2024/08/claim-tax-deduction-for-working-from-home Employees who are working from home may be eligible to claim a tax deduction on certain work-related bills. If their employer does not cover these expenses or allowances, they can claim tax relief The post Claim tax deduction for working from home appeared first on Feldon Accountancy. Thu, 29 Aug 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/08/claim-tax-deduction-for-working-from-home thumbnail https://www.feldonaccountancy.co.uk/2024/08/could-you-claim-pension-credits Pension Credits can provide extra income to those over State Pension age and on a low income. The credits were first introduced back in 2003 to help keep retired people out of poverty. The Department The post Could you claim Pension Credits? appeared first on Feldon Accountancy. Thu, 29 Aug 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/08/could-you-claim-pension-credits thumbnail https://www.feldonaccountancy.co.uk/2024/08/cgt-gift-hold-over-relief Gift Hold-Over Relief is a tax relief that defers the payment of Capital Gains Tax (CGT). It can be claimed when assets, including certain shares, are gifted or sold below their market value to The post CGT Gift Hold-Over Relief appeared first on Feldon Accountancy. Thu, 29 Aug 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/08/cgt-gift-hold-over-relief thumbnail https://www.feldonaccountancy.co.uk/2024/08/business-sectors-subject-to-aml-regulation In the UK, certain business sectors are required to register with a regulatory body, such as HM Revenue & Customs (HMRC), for Anti-Money Laundering (AML) purposes. These sectors include: Money The post Business sectors subject to AML regulation appeared first on Feldon Accountancy. Tue, 27 Aug 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/08/business-sectors-subject-to-aml-regulation thumbnail https://www.feldonaccountancy.co.uk/2024/08/negative-equity Negative equity occurs when the value of an asset, typically a property, falls below the outstanding balance on the loan or mortgage secured against it. In other words, the amount owed on the mortgage The post Negative equity appeared first on Feldon Accountancy. Tue, 27 Aug 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/08/negative-equity thumbnail https://www.feldonaccountancy.co.uk/2024/08/definition-of-living-together There are many tax reliefs available to married couples or civil partners. In many cases, these reliefs are only available if the couple / civil partners meet the legal definition of living The post Definition of living together appeared first on Feldon Accountancy. Thu, 22 Aug 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/08/definition-of-living-together thumbnail https://www.feldonaccountancy.co.uk/2024/08/update-on-high-income-child-benefit-charge Changes to the High Income Child Benefit Charge (HICBC) came into effect on 6 April 2024. The income threshold at which HICBC starts to be charged increased to £60,000 (from £50,000). The charge is The post Update on High Income Child Benefit Charge appeared first on Feldon Accountancy. Thu, 22 Aug 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/08/update-on-high-income-child-benefit-charge thumbnail https://www.feldonaccountancy.co.uk/2024/08/late-filing-penalties-vat-returns The VAT penalty regime that applies to the late submission and / or late payments of VAT returns changed for VAT return periods beginning on or after 1 January 2023. Under the new regime, there are The post Late filing penalties VAT returns appeared first on Feldon Accountancy. Thu, 22 Aug 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/08/late-filing-penalties-vat-returns thumbnail https://www.feldonaccountancy.co.uk/2024/08/tips-at-work Tips received at work do not count towards your earning for the purposes of the National Minimum Wage. However, you are still required to pay Income Tax on these tips and may also need to pay National The post Tips at work appeared first on Feldon Accountancy. Thu, 22 Aug 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/08/tips-at-work thumbnail https://www.feldonaccountancy.co.uk/2024/08/no-change-to-corporation-tax-rates The Corporation Tax Main Rate applies to companies with profits exceeding £250,000 and is currently set at 25%. For companies with profits up to £50,000, a Small Profit Rate (SPR) of 19% is The post No change to Corporation Tax rates? appeared first on Feldon Accountancy. Thu, 22 Aug 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/08/no-change-to-corporation-tax-rates thumbnail https://www.feldonaccountancy.co.uk/2024/08/what-is-an-appropriate-address-for-a-company One of the key changes introduced as part of the Economic Crime and Corporate Transparency Act (ECCTA) was the introduction of new rules for registered office addresses. The ECCTA introduced new The post What is an appropriate address for a company? appeared first on Feldon Accountancy. Thu, 22 Aug 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/08/what-is-an-appropriate-address-for-a-company thumbnail https://www.feldonaccountancy.co.uk/2024/08/persistence-pays-off Persistence in following up leads is a crucial trait in many fields, especially in sales and practice business development. It involves consistently pursuing potential opportunities, contacts, or The post Persistence pays off appeared first on Feldon Accountancy. Tue, 20 Aug 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/08/persistence-pays-off thumbnail https://www.feldonaccountancy.co.uk/2024/08/business-leaders-collaborate-to-make-work-pay British workers are set for better working conditions as the Government takes its first steps towards its Plan to Make Work Pay. The Deputy Prime Minister and Business Secretary convened a meeting The post Business leaders collaborate to Make Work Pay appeared first on Feldon Accountancy. Tue, 20 Aug 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/08/business-leaders-collaborate-to-make-work-pay thumbnail https://www.feldonaccountancy.co.uk/2024/08/paying-tax-via-your-tax-code You may be able to have tax underpayments collected via your tax code when you are in employment or in receipt of a company pension. Instead of paying off debts in a lump sum, money is collected in The post Paying tax via your tax code appeared first on Feldon Accountancy. Thu, 15 Aug 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/08/paying-tax-via-your-tax-code thumbnail https://www.feldonaccountancy.co.uk/2024/08/do-you-have-a-personal-tax-account HMRC’s Personal Tax Accounts (PTAs) serve as an online tool that enables taxpayers to view and update their information in real time. The PTA can be used for many routine requests and services and The post Do you have a personal tax account? appeared first on Feldon Accountancy. Thu, 15 Aug 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/08/do-you-have-a-personal-tax-account thumbnail https://www.feldonaccountancy.co.uk/2024/08/checking-employees-dbs-certificates The Disclosure and Barring Service (DBS) is an executive non-departmental public body sponsored by the Home Office. The DBS helps employers across the public, private, and voluntary sectors make safer The post Checking employees DBS certificates appeared first on Feldon Accountancy. Thu, 15 Aug 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/08/checking-employees-dbs-certificates thumbnail https://www.feldonaccountancy.co.uk/2024/08/check-your-state-pension-forecast The enhanced Check Your State Pension forecast service is available online. The service can be found on GOV.UK at the following webpage https://www.gov.uk/check-state-pension. The new digital service The post Check your State Pension forecast appeared first on Feldon Accountancy. Thu, 15 Aug 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/08/check-your-state-pension-forecast thumbnail https://www.feldonaccountancy.co.uk/2024/08/iht-unused-residence-nil-rate-band-rnrb The Inheritance Tax Residence Nil Rate Band (RNRB) is a transferable allowance available to married couples and civil partners when their main residence is inherited by direct descendants, such as The post IHT unused Residence Nil Rate Band (RNRB) appeared first on Feldon Accountancy. Thu, 15 Aug 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/08/iht-unused-residence-nil-rate-band-rnrb thumbnail https://www.feldonaccountancy.co.uk/2024/08/what-is-gift-hold-over-relief Gift Hold-Over Relief defers the payment of Capital Gains Tax (CGT). It can be claimed when assets, including certain shares, are gifted or sold below their market value to benefit the buyer. The The post What is Gift Hold-Over Relief? appeared first on Feldon Accountancy. Thu, 15 Aug 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/08/what-is-gift-hold-over-relief thumbnail https://www.feldonaccountancy.co.uk/2024/08/32m-for-ai-projects Companies developing artificial intelligence (AI) to improve safety on construction sites, reduce time spent repairing the railways and cut emissions across supply chains are amongst a number of The post £32m for AI projects appeared first on Feldon Accountancy. Mon, 12 Aug 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/08/32m-for-ai-projects thumbnail https://www.feldonaccountancy.co.uk/2024/08/guidance-for-charities-on-managing-public-disorder The charity commission has offered the following guidance to charities following the recent public disorder events. The main points are summarised below: Are you operating in an area which has The post Guidance for charities on managing public disorder appeared first on Feldon Accountancy. Mon, 12 Aug 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/08/guidance-for-charities-on-managing-public-disorder thumbnail https://www.feldonaccountancy.co.uk/2024/08/more-detail-on-vat-charge-on-private-school-fees More details have been published regarding Chancellor Rachel Reeves' plans to impose a VAT charge on private school fees. The government has said that the money raised by ending the tax breaks on VAT, The post More detail on VAT charge on private school fees appeared first on Feldon Accountancy. Thu, 08 Aug 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/08/more-detail-on-vat-charge-on-private-school-fees thumbnail https://www.feldonaccountancy.co.uk/2024/08/holiday-lets-the-demise-of-tax-concessions It was announced as part of the Spring Budget measures that the present favourable tax benefits presently allowed for the letting of properties as short-term holiday lets - known as the furnished The post Holiday Lets – the demise of tax concessions appeared first on Feldon Accountancy. Thu, 08 Aug 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/08/holiday-lets-the-demise-of-tax-concessions thumbnail https://www.feldonaccountancy.co.uk/2024/08/tax-relief-for-goodwill-purchases Goodwill is a concept frequently discussed, and yet it is seldom addressed in legislation. Typically, it is defined as the additional value of a business beyond its tangible assets. In the vast The post Tax relief for goodwill purchases appeared first on Feldon Accountancy. Thu, 08 Aug 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/08/tax-relief-for-goodwill-purchases thumbnail https://www.feldonaccountancy.co.uk/2024/08/corporate-claims-for-charitable-donations When a limited company makes charitable donations specific rules apply. These may include Corporation Tax relief for donations to registered charities or community amateur sports clubs (CASC), as well The post Corporate claims for charitable donations appeared first on Feldon Accountancy. Thu, 08 Aug 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/08/corporate-claims-for-charitable-donations thumbnail https://www.feldonaccountancy.co.uk/2024/08/pension-contributions-claiming-higher-rate-tax-relief You can usually claim tax relief on private pension contributions worth up to 100% of your annual earnings, subject to the overriding limits. Tax relief is paid on pension contributions at the highest The post Pension contributions – claiming higher rate tax relief appeared first on Feldon Accountancy. Thu, 08 Aug 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/08/pension-contributions-claiming-higher-rate-tax-relief thumbnail https://www.feldonaccountancy.co.uk/2024/08/dont-forget-to-report-property-gains A higher rate of CGT applies to gains on the disposal of residential property (apart from a principal private residence). In the Spring Budget 2024, the Chancellor announced a reduction in the higher The post Don’t forget to report property gains appeared first on Feldon Accountancy. Thu, 08 Aug 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/08/dont-forget-to-report-property-gains thumbnail https://www.feldonaccountancy.co.uk/2024/08/living-wage-rates-to-be-overhauled In a move to put more money in working people’s pockets, the government has overhauled the remit of the Low Pay Commission (LPC). This will, for the first time, ensure the independent body considers The post Living Wage rates to be overhauled appeared first on Feldon Accountancy. Mon, 05 Aug 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/08/living-wage-rates-to-be-overhauled thumbnail https://www.feldonaccountancy.co.uk/2024/08/road-fuel-costs-still-too-high The Competition and Markets Authority (CMA) has published an update on the widespread action it is taking to ensure that people can get the best possible choices and prices in the face of ongoing cost The post Road fuel costs still too high appeared first on Feldon Accountancy. Mon, 05 Aug 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/08/road-fuel-costs-still-too-high thumbnail https://www.feldonaccountancy.co.uk/2024/08/government-to-deal-with-22bn-black-hole-in-finances The new Chancellor of the Exchequer, Rachel Reeves, delivered her widely anticipated House of Commons statement on 29 July 2024. The Chancellor asserted that the new government has inherited a £22bn The post Government to deal with £22bn “black hole” in finances appeared first on Feldon Accountancy. Thu, 01 Aug 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/08/government-to-deal-with-22bn-black-hole-in-finances thumbnail https://www.feldonaccountancy.co.uk/2024/08/sharing-your-home-with-tenants If you have tenants in your home there can be Capital Gains Tax (CGT) consequences. Generally, there is no Capital Gains Tax (CGT) on a property used as the main family residence, thanks to a relief The post Sharing your home with tenants appeared first on Feldon Accountancy. Thu, 01 Aug 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/08/sharing-your-home-with-tenants thumbnail https://www.feldonaccountancy.co.uk/2024/08/hmrc-launches-vat-registration-tool A new digital VAT registration tool has been launched by HMRC that can be used to help businesses work out the effects of registering for VAT. The launch of the tool known as the VAT Registration The post HMRC launches VAT registration tool appeared first on Feldon Accountancy. Thu, 01 Aug 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/08/hmrc-launches-vat-registration-tool thumbnail https://www.feldonaccountancy.co.uk/2024/08/using-the-vat-annual-accounting-scheme The VAT Annual Accounting Scheme is available to most businesses with an annual turnover of up to £1.35 million. Key benefits of the scheme include the obligation to file just one VAT return per year, The post Using the VAT Annual Accounting Scheme appeared first on Feldon Accountancy. Thu, 01 Aug 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/08/using-the-vat-annual-accounting-scheme thumbnail https://www.feldonaccountancy.co.uk/2024/08/review-your-state-pension-estimate You can access the Check Your State Pension forecast service on GOV.UK via this link: https://www.gov.uk/check-state-pension. This digital service is provided jointly by HM Revenue and Customs (HMRC) The post Review your State Pension estimate appeared first on Feldon Accountancy. Thu, 01 Aug 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/08/review-your-state-pension-estimate thumbnail https://www.feldonaccountancy.co.uk/2024/08/what-qualifies-for-iht-business-relief There are several types of reliefs from Inheritance Tax (IHT), one of which is IHT Business Relief. This can be a significant tax benefit for those with business interests, potentially offering either The post What qualifies for IHT Business Relief appeared first on Feldon Accountancy. Thu, 01 Aug 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/08/what-qualifies-for-iht-business-relief thumbnail https://www.feldonaccountancy.co.uk/2024/08/first-interest-rates-cut-in-over-four-years The Bank of England’s Monetary Policy Committee (MPC) met on 1 August and in a very close 5-4 vote decided to reduce interest rates by 25 basis points to 5%. The 4 remaining members voted to keep the The post First interest rates cut in over four years appeared first on Feldon Accountancy. Thu, 01 Aug 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/08/first-interest-rates-cut-in-over-four-years thumbnail https://www.feldonaccountancy.co.uk/2024/07/ai-expert-to-lead-action-plan New UK Science Secretary, Peter Kyle, has put Artificial Intelligence or AI at the heart of the government’s agenda to deliver change, sustained economic growth and improved public services. The The post AI expert to lead action plan appeared first on Feldon Accountancy. Mon, 29 Jul 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/07/ai-expert-to-lead-action-plan thumbnail https://www.feldonaccountancy.co.uk/2024/07/tax-diary-september-october-2024 1 September 2024 - Due date for corporation tax due for the year ended 30 November 2022. 19 September 2024 - PAYE and NIC deductions due for month ended 5 September 2024. (If you pay your tax The post Tax Diary September/October 2024 appeared first on Feldon Accountancy. Mon, 29 Jul 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/07/tax-diary-september-october-2024 thumbnail https://www.feldonaccountancy.co.uk/2024/07/labour-market-stats-not-encouraging The number of people classed as economically inactive has spiraled to 9.4 million. Data published by the Office for National Statistics (ONS) shows the percentage of people employed has fallen to The post Labour market stats not encouraging appeared first on Feldon Accountancy. Mon, 29 Jul 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/07/labour-market-stats-not-encouraging thumbnail https://www.feldonaccountancy.co.uk/2024/07/current-cgt-rates Capital Gains Tax (CGT) is normally charged at a simple flat rate of 20% and this applies to most chargeable gains made by individuals. If taxpayers only pay basic rate tax and make a small capital The post Current CGT rates appeared first on Feldon Accountancy. Thu, 25 Jul 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/07/current-cgt-rates thumbnail https://www.feldonaccountancy.co.uk/2024/07/register-for-vat-one-stop-shop-scheme The VAT Import One Stop Shop (IOSS) Scheme applies to goods imported in consignments with a value of £135 or less (known as low value goods) from countries outside the EU and Northern Ireland, to The post Register for VAT One Stop Shop Scheme appeared first on Feldon Accountancy. Thu, 25 Jul 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/07/register-for-vat-one-stop-shop-scheme thumbnail https://www.feldonaccountancy.co.uk/2024/07/thinking-of-selling-your-business Business Asset Disposal Relief (BADR) applies to the sale of a business, shares in a trading company or an individual’s interest in a trading partnership. When the relief if available, Capital Gains The post Thinking of selling your business? appeared first on Feldon Accountancy. Thu, 25 Jul 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/07/thinking-of-selling-your-business thumbnail https://www.feldonaccountancy.co.uk/2024/07/the-marginal-rate-of-corporation-tax The Corporation Tax Main Rate applies to companies with profits in excess of £250,000. The applicable rate is currently 25%. A Small Profit Rate (SPR) of 19% applies to companies with profits of up to The post The marginal rate of Corporation Tax appeared first on Feldon Accountancy. Thu, 25 Jul 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/07/the-marginal-rate-of-corporation-tax thumbnail https://www.feldonaccountancy.co.uk/2024/07/considering-a-significant-gift There are special rules concerning the liability to IHT of a transfer made during one’s lifetime. For example, most gifts made during a person's life are not subject to tax at the time of the gift. The post Considering a significant gift? appeared first on Feldon Accountancy. Thu, 25 Jul 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/07/considering-a-significant-gift thumbnail https://www.feldonaccountancy.co.uk/2024/07/let-property-campaign The Let Property Campaign provides landlords who have undeclared income from residential property lettings in the UK or abroad with an opportunity to regularise their affairs by disclosing any The post Let Property Campaign appeared first on Feldon Accountancy. Thu, 25 Jul 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/07/let-property-campaign thumbnail https://www.feldonaccountancy.co.uk/2024/07/the-fiscal-goal-posts-will-be-moving In the coming months we will start to see how our new government intends to change the UK tax rules to further its economic growth agenda. Whatever they decide to do, readers who presently benefit The post The ‘fiscal’ goal posts will be moving appeared first on Feldon Accountancy. Tue, 23 Jul 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/07/the-fiscal-goal-posts-will-be-moving thumbnail https://www.feldonaccountancy.co.uk/2024/07/your-stake-in-your-business Ever wondered how your stake in your business is represented in your accounts? The answer can be found at the bottom of your balance sheet. Simply put it is the value of your physical business assets The post Your stake in your business appeared first on Feldon Accountancy. Tue, 23 Jul 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/07/your-stake-in-your-business thumbnail https://www.feldonaccountancy.co.uk/2024/07/ordering-documents-from-companies-house Companies House offers interested parties the ability to order certified copies of certificates and documents held on the Companies House register. You can order: a company certificate with The post Ordering documents from Companies House appeared first on Feldon Accountancy. Thu, 18 Jul 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/07/ordering-documents-from-companies-house thumbnail https://www.feldonaccountancy.co.uk/2024/07/when-you-cannot-use-the-property-or-trading-allowances Two separate £1,000 tax allowances for property and trading income were introduced in April 2017. If you have both types of income highlighted below, then you can claim a £1,000 allowance for The post When you cannot use the Property or Trading Allowances appeared first on Feldon Accountancy. Thu, 18 Jul 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/07/when-you-cannot-use-the-property-or-trading-allowances thumbnail https://www.feldonaccountancy.co.uk/2024/07/taxable-and-non-taxable-state-benefits Whilst there are a large number of state benefits available, it is not clear which of these benefits are taxable and which are tax-free. HMRC’s guidance provides the following list of the most common The post Taxable and non-taxable State Benefits appeared first on Feldon Accountancy. Thu, 18 Jul 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/07/taxable-and-non-taxable-state-benefits thumbnail https://www.feldonaccountancy.co.uk/2024/07/child-benefit-for-16-to-19-year-olds The child benefit rates for the only or eldest child in a family is currently £25.60 and the weekly rate for all other children is £16.95. Taxpayers entitled to the child benefit should be aware that The post Child benefit for 16 to 19 year olds appeared first on Feldon Accountancy. Thu, 18 Jul 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/07/child-benefit-for-16-to-19-year-olds thumbnail https://www.feldonaccountancy.co.uk/2024/07/gains-on-sale-of-shares Capital Gains Tax (CGT) is normally charged at a simple flat rate of 20% (but see comments below) when you sell shares unless they are in a CGT free investment such as an ISA or qualifying pension. The post Gains on sale of shares appeared first on Feldon Accountancy. Thu, 18 Jul 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/07/gains-on-sale-of-shares thumbnail https://www.feldonaccountancy.co.uk/2024/07/the-nic-employment-allowance The Employment Allowance benefits eligible employers by reducing their National Insurance liability. The current allowance is £5,000. An employer can claim less than the maximum if this covers their The post The NIC Employment Allowance appeared first on Feldon Accountancy. Thu, 18 Jul 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/07/the-nic-employment-allowance thumbnail https://www.feldonaccountancy.co.uk/2024/07/the-new-chancellors-first-speech The Chancellor has promised to take immediate action to fix the foundations of the economy, rebuild Britain and make every part of the country​ better off. In her first speech as Chancellor, Rachel The post The new Chancellor’s first speech appeared first on Feldon Accountancy. Mon, 15 Jul 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/07/the-new-chancellors-first-speech thumbnail https://www.feldonaccountancy.co.uk/2024/07/responding-to-a-personal-data-breach The Information Commissioner’s Office has a simple guide that explains what you need to do in the 72 hours following a data breach. The seven step approach advocated is set out below: Step one: The post Responding to a personal data breach appeared first on Feldon Accountancy. Mon, 15 Jul 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/07/responding-to-a-personal-data-breach thumbnail https://www.feldonaccountancy.co.uk/2024/07/labour-win-landslide-election-result As had been widely predicted, the results at the polls have seen the Labour Party back in power after 14 years in opposition. Labour have swept into power with their second-largest majority whilst the The post Labour win landslide election result appeared first on Feldon Accountancy. Thu, 11 Jul 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/07/labour-win-landslide-election-result thumbnail https://www.feldonaccountancy.co.uk/2024/07/business-vat-responsibilities The taxable turnover threshold that determines whether businesses should be registered for VAT is currently £85,000. Businesses with turnover below this level can also apply for a voluntary VAT The post Business VAT responsibilities appeared first on Feldon Accountancy. Thu, 11 Jul 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/07/business-vat-responsibilities thumbnail https://www.feldonaccountancy.co.uk/2024/07/are-mega-sized-marshmallows-zero-rated In the UK most basic food stuffs are zero rated. However, the definition of 'basic' is not straightforward and many of the foods are zero rated as a result of historical legislation dating back to the The post Are mega sized marshmallows zero-rated? appeared first on Feldon Accountancy. Thu, 11 Jul 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/07/are-mega-sized-marshmallows-zero-rated thumbnail https://www.feldonaccountancy.co.uk/2024/07/company-filing-obligations It is important that anyone responsible for the accounts and tax filing regime for private limited companies is aware of their obligations. After the end of its financial year, a private limited The post Company filing obligations appeared first on Feldon Accountancy. Thu, 11 Jul 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/07/company-filing-obligations thumbnail https://www.feldonaccountancy.co.uk/2024/07/inheritance-and-tax As a general rule, an individual who inherits property, money or shares is not liable to pay tax on the inheritance. This is because any Inheritance Tax (IHT) due should be paid out of the deceased’s The post Inheritance and tax appeared first on Feldon Accountancy. Thu, 11 Jul 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/07/inheritance-and-tax thumbnail https://www.feldonaccountancy.co.uk/2024/07/restarting-a-dormant-company HMRC must be informed when a non-trading or dormant company restarts trading and becomes active for Corporation Tax purposes. Companies can use HMRC Online Services to supply the relevant information. The post Restarting a dormant company appeared first on Feldon Accountancy. Thu, 11 Jul 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/07/restarting-a-dormant-company thumbnail https://www.feldonaccountancy.co.uk/2024/07/exit-plans Exit can be seen as quitting, especially if the exit discussed is your business interests. But actually, business exit planning is an essential part of general business planning. In some respects, it The post Exit plans appeared first on Feldon Accountancy. Mon, 08 Jul 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/07/exit-plans thumbnail https://www.feldonaccountancy.co.uk/2024/07/new-government Our new government, and in particular, Rachel Reeves, the new Chancellor, will be responsible for raising the funds that our new government requires to finance its activities. The government has The post New government appeared first on Feldon Accountancy. Mon, 08 Jul 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/07/new-government thumbnail https://www.feldonaccountancy.co.uk/2024/07/income-tax-in-scotland The Scottish rate of income tax (SRIT) is payable on the non-savings and non-dividend income of those defined as Scottish taxpayers. The definition of a Scottish taxpayer is based on whether the The post Income Tax in Scotland appeared first on Feldon Accountancy. Thu, 04 Jul 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/07/income-tax-in-scotland thumbnail https://www.feldonaccountancy.co.uk/2024/07/what-your-tax-code-means The letters in your tax code signify your entitlement (or not) to the annual tax free personal allowance. The tax codes are updated annually and help employers work out how much tax to deduct from an The post What your tax code means appeared first on Feldon Accountancy. Thu, 04 Jul 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/07/what-your-tax-code-means thumbnail https://www.feldonaccountancy.co.uk/2024/07/late-night-taxi-for-an-employee There is no specific requirement for employers to provide employees with transport home. Nevertheless, an employer has a duty of care to their employees, which means that they should take all steps The post Late night taxi for an employee appeared first on Feldon Accountancy. Thu, 04 Jul 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/07/late-night-taxi-for-an-employee thumbnail https://www.feldonaccountancy.co.uk/2024/07/claim-full-expensing-or-50-fya Full expensing allows for a 100% first-year capital allowance for qualifying plant and machinery assets and came into effect last April. To qualify for full expensing, expenditure must be incurred on The post Claim full expensing or 50% FYA appeared first on Feldon Accountancy. Thu, 04 Jul 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/07/claim-full-expensing-or-50-fya thumbnail https://www.feldonaccountancy.co.uk/2024/07/statutory-redundancy-pay If you have been in the same job for two years or more and are made redundant you will usually be entitled to redundancy money. The legal minimum that you are entitled to receive is known as The post Statutory redundancy pay appeared first on Feldon Accountancy. Thu, 04 Jul 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/07/statutory-redundancy-pay thumbnail https://www.feldonaccountancy.co.uk/2024/07/cgt-incorporation-relief Where a taxpayer owns a business as a sole trader or in partnership, a capital gain will be deemed to arise if the business is converted into a company by reference to the market value of the business The post CGT Incorporation Relief appeared first on Feldon Accountancy. Thu, 04 Jul 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/07/cgt-incorporation-relief thumbnail https://www.feldonaccountancy.co.uk/2024/07/extracting-profits-from-a-small-limited-company It is pretty much universally accepted that shareholders (usually directors) of small companies take out their remuneration as a small salary - a salary pitched high enough to secure NIC benefits but The post Extracting profits from a small, limited company appeared first on Feldon Accountancy. Mon, 01 Jul 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/07/extracting-profits-from-a-small-limited-company thumbnail https://www.feldonaccountancy.co.uk/2024/07/tax-diary-august-september-2024 1 August 2024 - Due date for corporation tax due for the year ended 31 October 2023. 19 August 2024 - PAYE and NIC deductions due for month ended 5 August 2024. (If you pay your tax electronically The post Tax Diary August/September 2024 appeared first on Feldon Accountancy. Mon, 01 Jul 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/07/tax-diary-august-september-2024 thumbnail https://www.feldonaccountancy.co.uk/2024/07/translation If you receive documents from overseas customers or suppliers and you need to translate text into English, have you used Google Translate? It’s a free, but incredibly powerful facility. You can The post Translation appeared first on Feldon Accountancy. Mon, 01 Jul 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/07/translation thumbnail https://www.feldonaccountancy.co.uk/2024/06/are-you-claiming-the-marriage-allowance The marriage allowance can be claimed by married couples and those in a civil partnership and where a spouse or civil partner does not pay tax or does not pay tax above the basic rate threshold for The post Are you claiming the marriage allowance appeared first on Feldon Accountancy. Thu, 27 Jun 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/06/are-you-claiming-the-marriage-allowance thumbnail https://www.feldonaccountancy.co.uk/2024/06/private-rental-deposits There are special rules under the Tenancy Deposit Scheme that limits the amount of deposit that landlords in England can request. There are also further limitations on what landlords and agents can The post Private rental deposits appeared first on Feldon Accountancy. Thu, 27 Jun 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/06/private-rental-deposits thumbnail https://www.feldonaccountancy.co.uk/2024/06/how-to-check-a-uk-vat-number The online service for checking a UK VAT number is available at: www.gov.uk/check-uk-vat-number. This service can be used to check: if a UK VAT registration number is valid; and the name and The post How to check a UK VAT number appeared first on Feldon Accountancy. Thu, 27 Jun 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/06/how-to-check-a-uk-vat-number thumbnail https://www.feldonaccountancy.co.uk/2024/06/check-employment-status-for-tax The Check Employment Status for Tax (CEST) tool can be used to help ascertain if a worker should be classified as employed or self-employed for tax purposes in both the private and public The post Check employment status for tax appeared first on Feldon Accountancy. Thu, 27 Jun 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/06/check-employment-status-for-tax thumbnail https://www.feldonaccountancy.co.uk/2024/06/check-your-state-pension-forecast The enhanced Check Your State Pension forecast service is now available online. The service can be found on GOV.UK at the following webpage https://www.gov.uk/check-state-pension. The new digital The post Check your State Pension forecast appeared first on Feldon Accountancy. Thu, 27 Jun 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/06/check-your-state-pension-forecast thumbnail https://www.feldonaccountancy.co.uk/2024/06/finding-your-national-insurance-number If you have lost or forgotten your National Insurance number there are a number of ways to locate it. Firstly, you could try and locate the number on paperwork such as your tax return, payslip or P60. The post Finding your National Insurance number appeared first on Feldon Accountancy. Thu, 27 Jun 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/06/finding-your-national-insurance-number thumbnail https://www.feldonaccountancy.co.uk/2024/06/what-is-a-group-company-structure A group is formed when one company has control of, owns, a number of subsidiary companies. A group is different to an arrangement where an individual owns a number of companies personally. In this The post What is a group company structure? appeared first on Feldon Accountancy. Tue, 25 Jun 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/06/what-is-a-group-company-structure thumbnail https://www.feldonaccountancy.co.uk/2024/06/tax-relief-for-training-costs If you are self-employed it is important to know if an expense is tax allowable. Any allowable costs can be used to reduce your taxable profit. As a general rule you can claim for items that you The post Tax relief for training costs appeared first on Feldon Accountancy. Thu, 20 Jun 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/06/tax-relief-for-training-costs thumbnail https://www.feldonaccountancy.co.uk/2024/06/is-your-income-over-100000 If you earn over £100,000 in any tax year your personal allowance is gradually reduced by £1 for every £2 of adjusted net income over £100,000 irrespective of age. This means that any taxable receipt The post Is your income over £100,000? appeared first on Feldon Accountancy. Thu, 20 Jun 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/06/is-your-income-over-100000 thumbnail https://www.feldonaccountancy.co.uk/2024/06/reclaiming-pre-trading-vat There are special rules that determine the recoverability of VAT incurred before a business registered for VAT. This type of VAT is known as pre-registration input VAT. There are different rules for The post Reclaiming pre-trading VAT appeared first on Feldon Accountancy. Thu, 20 Jun 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/06/reclaiming-pre-trading-vat thumbnail https://www.feldonaccountancy.co.uk/2024/06/tax-and-employee-share-schemes There are a number of government approved share schemes which offer various incentives to employees. The rules of the schemes vary but they are all designed to help incentivise employees by giving The post Tax and employee share schemes appeared first on Feldon Accountancy. Thu, 20 Jun 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/06/tax-and-employee-share-schemes thumbnail https://www.feldonaccountancy.co.uk/2024/06/post-cessation-transactions Tax relief may be available for post-cessation expenses of a trade. To be an allowable post-cessation expense the trade must have ceased and the expense must have been deductible in calculating the The post Post cessation transactions appeared first on Feldon Accountancy. Thu, 20 Jun 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/06/post-cessation-transactions thumbnail https://www.feldonaccountancy.co.uk/2024/06/connected-persons-for-tax-purposes The definition of a connected person for tax purposes varies. A statutory definition of “connected persons” for Capital Gains Tax purposes is set out in Section 286 of the Taxation of The post Connected persons for tax purposes appeared first on Feldon Accountancy. Thu, 20 Jun 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/06/connected-persons-for-tax-purposes thumbnail https://www.feldonaccountancy.co.uk/2024/06/are-we-unpaid-tax-collectors Business owners often refer to VAT as if it were a cost to their business regardless of their VAT position; whether they are registered for VAT or not. If you are not registered for VAT, you do not The post Are we unpaid tax collectors? appeared first on Feldon Accountancy. Mon, 17 Jun 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/06/are-we-unpaid-tax-collectors thumbnail https://www.feldonaccountancy.co.uk/2024/06/child-benefit-for-16-19-year-olds More than a million parents will receive reminders to extend Child Benefit for their teenagers if they are continuing their education or training after their GCSEs. HM Revenue and Customs (HMRC) is The post Child Benefit for 16 – 19 year olds appeared first on Feldon Accountancy. Mon, 17 Jun 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/06/child-benefit-for-16-19-year-olds thumbnail https://www.feldonaccountancy.co.uk/2024/06/non-resident-uk-property-sales There are specials rules that apply to UK property sales by non-residents. Since 6 April 2020 non-residents have needed to report and pay any non-resident Capital Gains Tax (CGT) due if they have sold The post Non-resident UK property sales appeared first on Feldon Accountancy. Thu, 13 Jun 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/06/non-resident-uk-property-sales thumbnail https://www.feldonaccountancy.co.uk/2024/06/interest-on-childrens-savings All children in the UK have their own personal allowance, currently £12,570. There are special rules if a parent gifts significant amounts of money to their children which results in them receiving The post Interest on children’s savings appeared first on Feldon Accountancy. Thu, 13 Jun 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/06/interest-on-childrens-savings thumbnail https://www.feldonaccountancy.co.uk/2024/06/self-assessment-payments-on-account Self-assessment taxpayers are usually required to pay their income tax liabilities in three instalments each year. The first two payments on account are due on 31 January during the tax year and 31 The post Self-assessment payments on account appeared first on Feldon Accountancy. Thu, 13 Jun 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/06/self-assessment-payments-on-account thumbnail https://www.feldonaccountancy.co.uk/2024/06/multiple-dwellings-relief-for-sdlt It was announced as part of the Spring Budget 2023 that Multiple Dwellings Relief (MDR) was being abolished. This change has now come into effect for transactions which complete, or substantially The post Multiple Dwellings Relief for SDLT appeared first on Feldon Accountancy. Thu, 13 Jun 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/06/multiple-dwellings-relief-for-sdlt thumbnail https://www.feldonaccountancy.co.uk/2024/06/correcting-errors-in-vat-returns Where an error on a past VAT return is uncovered businesses have a duty to correct the error as soon as possible. As a general rule, any necessary adjustment can be made on a current VAT return. To do The post Correcting errors in VAT returns appeared first on Feldon Accountancy. Thu, 13 Jun 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/06/correcting-errors-in-vat-returns thumbnail https://www.feldonaccountancy.co.uk/2024/06/types-of-hmrc-enquiries HMRC can enquire into any statutory return (or amendment of that return) or statutory claim to check if the return / claim has been prepared correctly or if further information is required. HMRC’s The post Types of HMRC enquiries appeared first on Feldon Accountancy. Thu, 13 Jun 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/06/types-of-hmrc-enquiries thumbnail https://www.feldonaccountancy.co.uk/2024/06/new-brooms As time passes during the present election campaign, its seems more likely that we may have a change of government from the 5 July. Labour have disclosed a number of tax changes they would introduce. The post New Brooms appeared first on Feldon Accountancy. Tue, 11 Jun 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/06/new-brooms thumbnail https://www.feldonaccountancy.co.uk/2024/06/falling-inflation-what-does-it-mean-for-you The following notes are reproduced from a Treasury statement issued 21 May 2024. Lower inflation supports people by maintaining the purchasing power of their money. If prices only rise slowly, The post Falling inflation – what does it mean for you? appeared first on Feldon Accountancy. Tue, 11 Jun 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/06/falling-inflation-what-does-it-mean-for-you thumbnail https://www.feldonaccountancy.co.uk/2024/06/tax-diary-july-august-2024 1 July 2024 - Due date for corporation tax due for the year ended 30 September 2023. 6 July 2024 - Complete and submit forms P11D return of benefits and expenses and P11D(b) return of Class 1A The post Tax Diary July/August 2024 appeared first on Feldon Accountancy. Fri, 07 Jun 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/06/tax-diary-july-august-2024 thumbnail https://www.feldonaccountancy.co.uk/2024/06/setting-up-as-a-sole-trader Setting up in business as a sole trader is arguably the simplest way of starting and running a business. The advantages of being a sole trader include independence, ease of set up and running your The post Setting up as a sole trader appeared first on Feldon Accountancy. Thu, 06 Jun 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/06/setting-up-as-a-sole-trader thumbnail https://www.feldonaccountancy.co.uk/2024/06/filing-your-tax-return-early The 2023-24 tax year ended on 5 April 2024 and the new 2024-25 tax year started on 6 April 2024. Most taxpayers will be happy to leave dealing with their 2023-24 tax returns until later this year or The post Filing your tax return early appeared first on Feldon Accountancy. Thu, 06 Jun 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/06/filing-your-tax-return-early thumbnail https://www.feldonaccountancy.co.uk/2024/06/need-to-register-for-self-assessment There is an online tool, developed by HMRC, that allows taxpayers to check if they need to notify HMRC about additional income. The online tool can be found at The post Need to register for self-assessment? appeared first on Feldon Accountancy. Thu, 06 Jun 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/06/need-to-register-for-self-assessment thumbnail https://www.feldonaccountancy.co.uk/2024/06/statutory-pay-assistance An employer can usually reclaim 92% of employees’ Statutory Maternity, Statutory Paternity, Statutory Adoption, Statutory Parental Bereavement and Statutory Shared Parental Pay. If the business The post Statutory Pay assistance appeared first on Feldon Accountancy. Thu, 06 Jun 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/06/statutory-pay-assistance thumbnail https://www.feldonaccountancy.co.uk/2024/06/transferring-unused-iht-residence-nil-rate-band The Inheritance Tax residence nil rate band (RNRB) is a transferable allowance for married couples and civil partners (per person) when their main residence is passed down to a direct descendent such The post Transferring unused IHT residence nil rate band appeared first on Feldon Accountancy. Thu, 06 Jun 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/06/transferring-unused-iht-residence-nil-rate-band thumbnail https://www.feldonaccountancy.co.uk/2024/06/directors-and-national-insurance Directors are classed as employees and pay National Insurance on annual income from salary and bonuses that exceed the Primary Threshold. The annual threshold is £12,570 in the current 2024-25 tax The post Directors and National Insurance appeared first on Feldon Accountancy. Thu, 06 Jun 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/06/directors-and-national-insurance thumbnail https://www.feldonaccountancy.co.uk/2024/06/change There is a French saying “Plus ca change, plus c’est la meme chose” meaning, the more things change, the more they stay the same. Its interesting to apply this to a change that is about The post Change appeared first on Feldon Accountancy. Tue, 04 Jun 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/06/change thumbnail https://www.feldonaccountancy.co.uk/2024/06/new-protection-for-consumers The Digital Markets, Competition and Consumers Act has become law after receiving Royal Assent. The Act paves the way to give consumers rights across the UK, with greater control and clarity over The post New protection for consumers appeared first on Feldon Accountancy. Tue, 04 Jun 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/06/new-protection-for-consumers thumbnail https://www.feldonaccountancy.co.uk/2024/05/general-election-date-announced The Prime Minister, Rishi Sunak, declared from the steps of Downing Street (on 22 May 2024) that the next general election will take place on 4 July 2024. The Prime Minister confirmed that he had The post General election date announced appeared first on Feldon Accountancy. Thu, 30 May 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/05/general-election-date-announced thumbnail https://www.feldonaccountancy.co.uk/2024/05/cgt-rollover-relief Business Asset Rollover Relief also known as CGT Rollover Relief allows for deferral of Capital Gains Tax (CGT) on gains made when taxpayers sell or dispose of certain assets and use all or part of The post CGT Rollover Relief appeared first on Feldon Accountancy. Thu, 30 May 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/05/cgt-rollover-relief thumbnail https://www.feldonaccountancy.co.uk/2024/05/carry-back-charitable-donations If you are a higher rate or additional rate taxpayer you have the option to carry back your charitable donations to the previous tax year. A request to carry back the donation must be made before or The post Carry back charitable donations appeared first on Feldon Accountancy. Thu, 30 May 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/05/carry-back-charitable-donations thumbnail https://www.feldonaccountancy.co.uk/2024/05/changes-to-the-high-income-child-benefit-charge The changes to the High Income Child Benefit Charge (HICBC) announced as part of the Spring Budget came into effect on 6 April 2024. The income threshold at which HICBC starts to be charged has been The post Changes to the High Income Child Benefit Charge appeared first on Feldon Accountancy. Thu, 30 May 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/05/changes-to-the-high-income-child-benefit-charge thumbnail https://www.feldonaccountancy.co.uk/2024/05/payback-company-car-private-fuel Where an employee with a company car is provided with fuel for their own private use by their employers, the default position is that the employee is required to pay the car fuel benefit charge. The The post Payback company car private fuel appeared first on Feldon Accountancy. Thu, 30 May 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/05/payback-company-car-private-fuel thumbnail https://www.feldonaccountancy.co.uk/2024/05/employee-suggestion-schemes There are many advantages to creating an employee suggestion scheme where employees are rewarded for making suggestions that benefit your business. Apart from the value that these suggestions can have The post Employee suggestion schemes appeared first on Feldon Accountancy. Thu, 30 May 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/05/employee-suggestion-schemes thumbnail https://www.feldonaccountancy.co.uk/2024/05/do-not-respond-if-you-receive-this-letter Companies House published guidance titled ‘Reporting scams pretending to be from Companies House’ has been updated. The list is intended to help people check if contacts purporting to be from The post Do not respond if you receive this letter appeared first on Feldon Accountancy. Thu, 30 May 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/05/do-not-respond-if-you-receive-this-letter thumbnail https://www.feldonaccountancy.co.uk/2024/05/post-office-convictions-quashed Convictions of hundreds of postmasters have been quashed following Royal Assent of the Post Office (Horizon System) Offences Act 2024. Many postmasters endured financial ruin, the loss of homes, The post Post Office convictions quashed appeared first on Feldon Accountancy. Tue, 28 May 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/05/post-office-convictions-quashed thumbnail https://www.feldonaccountancy.co.uk/2024/05/benefits-of-a-fall-in-inflation An economist from the Treasury explains exactly what a fall in inflation means for you. How will lower inflation help the economy? Lower inflation supports people by maintaining the purchasing The post Benefits of a fall in inflation appeared first on Feldon Accountancy. Tue, 28 May 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/05/benefits-of-a-fall-in-inflation thumbnail https://www.feldonaccountancy.co.uk/2024/05/changes-to-companies-house-fees There have been a number of significant changes in Companies House fees. These changes took effect on 1 May 2024. The last significant change in fees occurred in April 2016. The new fees have been The post Changes to Companies House Fees appeared first on Feldon Accountancy. Thu, 23 May 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/05/changes-to-companies-house-fees thumbnail https://www.feldonaccountancy.co.uk/2024/05/tax-when-transferring-assets-during-divorce When a couple is separating or is divorced it is unlikely that they are thinking about the tax implications of their actions. However, apart from the emotional stress, there are also tax issues that The post Tax when transferring assets during divorce appeared first on Feldon Accountancy. Thu, 23 May 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/05/tax-when-transferring-assets-during-divorce thumbnail https://www.feldonaccountancy.co.uk/2024/05/vat-reverse-charge-for-builders There are special VAT reverse charge rules for certain building contractors and sub-contractors. The rules, which came into effect on 1 March 2021, makes the supply of most construction services The post VAT reverse charge for builders appeared first on Feldon Accountancy. Thu, 23 May 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/05/vat-reverse-charge-for-builders thumbnail https://www.feldonaccountancy.co.uk/2024/05/tax-credits-reminder We would like to remind our readers that HMRC is currently sending the annual tax credit renewal packs to 730,000 tax credit claimants. HMRC is encouraging recipients to renew their tax credits claim The post Tax credits reminder appeared first on Feldon Accountancy. Thu, 23 May 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/05/tax-credits-reminder thumbnail https://www.feldonaccountancy.co.uk/2024/05/reporting-expenses-and-benefits-to-hmrc The deadline for submitting the 2023-24 forms P11D, P11D(b) and P9D is 6 July 2024. These forms can be submitted using commercial software or via HMRC’s PAYE online service. HMRC no longer accepts The post Reporting expenses and benefits to HMRC appeared first on Feldon Accountancy. Thu, 23 May 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/05/reporting-expenses-and-benefits-to-hmrc thumbnail https://www.feldonaccountancy.co.uk/2024/05/view-your-annual-tax-summary The Annual Tax Summary is a document provided by HMRC that shows details of the tax you pay and how this is used by government. The Annual Tax Summary shows: your taxable income from all sources The post View your annual tax summary appeared first on Feldon Accountancy. Thu, 23 May 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/05/view-your-annual-tax-summary thumbnail https://www.feldonaccountancy.co.uk/2024/05/childcare-funding-for-under-9-month-olds In a recent press release the Department for Education confirmed that parents of children from 9 months old can now apply to access government-funded childcare from September 2024, as England’s The post Childcare funding for under 9-month-olds appeared first on Feldon Accountancy. Mon, 20 May 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/05/childcare-funding-for-under-9-month-olds thumbnail https://www.feldonaccountancy.co.uk/2024/05/universal-credit-changes Universal Credit claimants working less than half of a full-time week will have to look to increase their hours but will be able to benefit from extra work coach support. These changes will see The post Universal Credit changes appeared first on Feldon Accountancy. Mon, 20 May 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/05/universal-credit-changes thumbnail https://www.feldonaccountancy.co.uk/2024/05/register-an-overseas-company An overseas company must register with Companies House if they want to set up a place of business in the UK. This would mean that the overseas company has a physical presence in the UK through which The post Register an overseas company appeared first on Feldon Accountancy. Thu, 16 May 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/05/register-an-overseas-company thumbnail https://www.feldonaccountancy.co.uk/2024/05/closing-a-limited-company There are a number of reasons why you may need to close your limited company. This could be because the company structure no longer suits your needs, your business is no longer active, or the company The post Closing a limited company appeared first on Feldon Accountancy. Thu, 16 May 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/05/closing-a-limited-company thumbnail https://www.feldonaccountancy.co.uk/2024/05/employing-staff-for-the-first-time There are a number of rules and regulations that you must be aware of when you employ staff for the first time. HMRC’s guidance sets out some important issues to be aware of when becoming an The post Employing staff for the first time? appeared first on Feldon Accountancy. Thu, 16 May 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/05/employing-staff-for-the-first-time thumbnail https://www.feldonaccountancy.co.uk/2024/05/check-a-vat-number The check a UK VAT number service is available at: www.gov.uk/check-uk-vat-number. This service allows users to check: if a UK VAT registration number is valid; and the name and address of the The post Check a VAT number appeared first on Feldon Accountancy. Thu, 16 May 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/05/check-a-vat-number thumbnail https://www.feldonaccountancy.co.uk/2024/05/beneficial-tax-exempt-loans An employee can obtain a benefit when provided with an employment-related cheap or interest-free loan. The benefit is the difference between the interest the employee pays, if any, and the commercial The post Beneficial tax-exempt loans appeared first on Feldon Accountancy. Thu, 16 May 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/05/beneficial-tax-exempt-loans thumbnail https://www.feldonaccountancy.co.uk/2024/05/deferring-national-insurance-payments Employees with more than one job may be able to defer or delay paying Class 1 National Insurance in certain circumstances. This deferment can be considered when any of the following apply: You pay The post Deferring National Insurance payments appeared first on Feldon Accountancy. Thu, 16 May 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/05/deferring-national-insurance-payments thumbnail https://www.feldonaccountancy.co.uk/2024/05/customs-declaration-deadline A reminder that businesses must submit all export declarations through the Customs Declaration Service (CDS) by 4 June. Businesses exporting goods have less than one month left to move across to the The post Customs declaration deadline appeared first on Feldon Accountancy. Mon, 13 May 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/05/customs-declaration-deadline thumbnail https://www.feldonaccountancy.co.uk/2024/05/company-names-new-regulations A recent post by Companies House confirmed that they are now using new powers to challenge the registration of certain company names. Extracts from their recent blog post is reproduced The post Company names – new regulations appeared first on Feldon Accountancy. Mon, 13 May 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/05/company-names-new-regulations thumbnail https://www.feldonaccountancy.co.uk/2024/05/do-you-need-to-register-for-economic-crime-levy The Economic Crime Levy is a levy that applies to businesses that are already regulated for anti-money laundering purposes. Your business must register if your UK revenue is £10.2 million or more in The post Do you need to register for Economic Crime Levy? appeared first on Feldon Accountancy. Thu, 09 May 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/05/do-you-need-to-register-for-economic-crime-levy thumbnail https://www.feldonaccountancy.co.uk/2024/05/check-if-hmrc-contact-is-genuine HMRC’s published guidance titled ‘Check genuine HMRC contact that uses more than one communication method’ has been updated. The list is intended to help taxpayers check if recent contacts purporting The post Check if HMRC contact is genuine appeared first on Feldon Accountancy. Thu, 09 May 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/05/check-if-hmrc-contact-is-genuine thumbnail https://www.feldonaccountancy.co.uk/2024/05/time-to-renew-tax-credits HMRC is currently sending the annual tax credit renewal packs to the 730,000 tax credit claimants and is encouraging recipients to renew their tax credits claim online. HMRC started writing to The post Time to renew tax credits appeared first on Feldon Accountancy. Thu, 09 May 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/05/time-to-renew-tax-credits thumbnail https://www.feldonaccountancy.co.uk/2024/05/how-to-claim-rd-expenditure-credit In the Autumn Statement last year, it was announced that the existing R&D Expenditure Credit and Small and Medium Enterprise Scheme would be merged from April 2024. The merged scheme R&D The post How to claim R&D expenditure credit appeared first on Feldon Accountancy. Thu, 09 May 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/05/how-to-claim-rd-expenditure-credit thumbnail https://www.feldonaccountancy.co.uk/2024/05/lifetime-transfers-and-liability-to-iht There are special rules concerning the liability to IHT of a transfer made during a lifetime. For example, most gifts made during a person's life are not subject to tax at the time of the gift. These The post Lifetime transfers and liability to IHT appeared first on Feldon Accountancy. Thu, 09 May 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/05/lifetime-transfers-and-liability-to-iht thumbnail https://www.feldonaccountancy.co.uk/2024/05/act-now-to-claim-dormant-funds The Ministry of Justice has published an urgent warning for anyone with unclaimed dormant funds held by the Courts Funds Office (CFO). Recent changes in legislation have changed the rules for The post Act now to claim dormant funds appeared first on Feldon Accountancy. Thu, 09 May 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/05/act-now-to-claim-dormant-funds thumbnail https://www.feldonaccountancy.co.uk/2024/05/new-companies-house-powers The recently introduced Economic Crime and Transparency Act has gifted Companies House a range of new powers aimed at reducing exploitation by corporate entities to pursue illegal enterprise. The aim The post New Companies House powers appeared first on Feldon Accountancy. Tue, 07 May 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/05/new-companies-house-powers thumbnail https://www.feldonaccountancy.co.uk/2024/05/tax-diary-june-july-2024 1 June 2024 - Due date for corporation tax due for the year ended 31 August 2023. 19 June 2024 - PAYE and NIC deductions due for month ended 5 June 2024. (If you pay your tax electronically the due The post Tax Diary June/July 2024 appeared first on Feldon Accountancy. Tue, 07 May 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/05/tax-diary-june-july-2024 thumbnail https://www.feldonaccountancy.co.uk/2024/05/cyber-protection-laws-introduced New consumer protections against hacking and cyber-attacks came into force at the end of April 2024. All internet connected smart devices will be required by law to meet minimum-security standards. The post Cyber protection laws introduced appeared first on Feldon Accountancy. Tue, 07 May 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/05/cyber-protection-laws-introduced thumbnail https://www.feldonaccountancy.co.uk/2024/05/self-employed-tax-basis-period-reform The self-employed tax basis period reform has changed the way trading income is allocated to tax years. Under the reforms, the tax basis period has changed from a ‘current year basis’ to a ‘tax year The post Self-employed tax basis period reform appeared first on Feldon Accountancy. Thu, 02 May 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/05/self-employed-tax-basis-period-reform thumbnail https://www.feldonaccountancy.co.uk/2024/05/hiring-customs-agents Customs declarations can be difficult and time consuming to complete. Businesses can make their own custom's declarations; however, this is complex and requires specialist skills and software. Most The post Hiring customs agents appeared first on Feldon Accountancy. Thu, 02 May 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/05/hiring-customs-agents thumbnail https://www.feldonaccountancy.co.uk/2024/05/vat-boost-to-charitable-donations The government is looking to introduce a new relief that would provide a VAT boost to charitable donations. The new VAT relief would be designed to encourage businesses to donate everyday items to The post VAT boost to charitable donations appeared first on Feldon Accountancy. Thu, 02 May 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/05/vat-boost-to-charitable-donations thumbnail https://www.feldonaccountancy.co.uk/2024/05/new-tips-guidance-published New rules that stop employers from withholding tips from people working in the hospitality, leisure and services sectors are a step closer following the publication of a new Code of Practice on The post New tips guidance published appeared first on Feldon Accountancy. Thu, 02 May 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/05/new-tips-guidance-published thumbnail https://www.feldonaccountancy.co.uk/2024/05/directors-who-are-liable-for-unpaid-tax HMRC has the power to make directors personally liable for paying the tax debts of companies they have been involved in under certain limited circumstances. This can also apply to certain other The post Directors who are liable for unpaid tax appeared first on Feldon Accountancy. Thu, 02 May 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/05/directors-who-are-liable-for-unpaid-tax thumbnail https://www.feldonaccountancy.co.uk/2024/05/business-rates-relief-in-england Business rates are a tax on non-domestic premises, including most commercial properties such as shops, offices, pubs, warehouses and factories. The money raised through business rates is used to help The post Business rates relief in England appeared first on Feldon Accountancy. Thu, 02 May 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/05/business-rates-relief-in-england thumbnail https://www.feldonaccountancy.co.uk/2024/04/free-management-course-for-smes The government has launched the new Help to Grow: Management Essentials course; a short online course with practical tips and resources for small business leaders. It is based on the 12-week Help to The post Free management course for SMEs appeared first on Feldon Accountancy. Tue, 30 Apr 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/04/free-management-course-for-smes thumbnail https://www.feldonaccountancy.co.uk/2024/04/post-office-offences-bill-to-be-extended The Government has tabled amendments to expand the territorial extent of the Post Office Offences Bill. Convictions resulting from the Post Office Horizon scandal in Northern Ireland will now be The post Post Office Offences Bill to be extended appeared first on Feldon Accountancy. Tue, 30 Apr 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/04/post-office-offences-bill-to-be-extended thumbnail https://www.feldonaccountancy.co.uk/2024/04/dos-and-donts-for-standard-visitors-to-the-uk There is useful guidance published on GOV.UK that explains the do’s and don’ts for Standard Visitors to the UK. Visitors to the UK who are classed as a ‘Standard Visitor’ are allowed in the UK for The post Do’s and don’ts for Standard Visitors to the UK appeared first on Feldon Accountancy. Thu, 25 Apr 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/04/dos-and-donts-for-standard-visitors-to-the-uk thumbnail https://www.feldonaccountancy.co.uk/2024/04/tax-free-home-sales In general, there is no Capital Gains Tax (CGT) liability created when a property used as the main family residence is sold. An investment property which has never been used as a home will not The post Tax-free home sales appeared first on Feldon Accountancy. Thu, 25 Apr 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/04/tax-free-home-sales thumbnail https://www.feldonaccountancy.co.uk/2024/04/childcare-account-chores HMRC’s Childcare account can be used to claim free childcare (if eligible) or pay for Tax-Free Childcare. HMRC’s sign in page for the account states that in order ‘…to keep getting free childcare or The post Childcare Account chores appeared first on Feldon Accountancy. Thu, 25 Apr 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/04/childcare-account-chores thumbnail https://www.feldonaccountancy.co.uk/2024/04/bikes-for-employees The Cycle to Work scheme allows employers to provide bicycles and cyclists’ safety equipment to employees as a tax-free benefit. The scheme must be offered to all employees and the bike must be used The post Bikes for employees appeared first on Feldon Accountancy. Thu, 25 Apr 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/04/bikes-for-employees thumbnail https://www.feldonaccountancy.co.uk/2024/04/transferring-unused-nil-rate-band-for-iht The Inheritance Tax residence nil rate band (RNRB) is a transferable allowance for married couples and civil partners (per person) when their main residence is passed down to a direct descendent such The post Transferring unused nil rate band for IHT appeared first on Feldon Accountancy. Thu, 25 Apr 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/04/transferring-unused-nil-rate-band-for-iht thumbnail https://www.feldonaccountancy.co.uk/2024/04/checking-your-national-insurance-records There is an online service available on HMRC to check your National Insurance Contributions (NIC) record online. The service is available at https://www.gov.uk/check-national-insurance-record In The post Checking your National Insurance records appeared first on Feldon Accountancy. Thu, 25 Apr 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/04/checking-your-national-insurance-records thumbnail https://www.feldonaccountancy.co.uk/2024/04/tipping-boost The government’s Tipping Act is a step closer to coming into force, as the Code of Practice is published and laid before Parliament. The new Code of Practice will protect the tips of more than 2 The post Tipping boost appeared first on Feldon Accountancy. Wed, 24 Apr 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/04/tipping-boost thumbnail https://www.feldonaccountancy.co.uk/2024/04/smart-energy In a recent press release, the Department for Energy Security and Net Zero confirmed that consumers are set to benefit from cheaper and more convenient energy deals as part of new measures to create a The post Smart energy appeared first on Feldon Accountancy. Wed, 24 Apr 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/04/smart-energy thumbnail https://www.feldonaccountancy.co.uk/2024/04/view-and-prove-your-immigration-status A UK Visas and Immigration (UKVI) account can be used by eligible users to view and prove their immigration status online. This may be required to provide proof of your status to employers or higher The post View and prove your immigration status appeared first on Feldon Accountancy. Thu, 18 Apr 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/04/view-and-prove-your-immigration-status thumbnail https://www.feldonaccountancy.co.uk/2024/04/post-transaction-valuation-checks A Post Transaction Valuation Check (PTVC) can be requested from HMRC for an individual to work out a capital gains tax liability or for companies to calculate corporation tax liability on chargeable The post Post Transaction Valuation Checks appeared first on Feldon Accountancy. Thu, 18 Apr 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/04/post-transaction-valuation-checks thumbnail https://www.feldonaccountancy.co.uk/2024/04/changes-to-scottish-income-tax-rates-2024-25 A reminder of the changes to Scottish Income Tax rates for the 2024-25 tax year. It was announced as part of the Scottish Budget measures that a new tax band called the advanced rate band will apply a The post Changes to Scottish Income Tax rates 2024-25 appeared first on Feldon Accountancy. Thu, 18 Apr 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/04/changes-to-scottish-income-tax-rates-2024-25 thumbnail https://www.feldonaccountancy.co.uk/2024/04/payrolling-employee-expenses-and-benefits Employers can register on a voluntary basis (before the start of the tax year) to report and account for tax on certain benefits and expenses via the RTI system. This is known as payrolling and The post Payrolling employee expenses and benefits appeared first on Feldon Accountancy. Thu, 18 Apr 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/04/payrolling-employee-expenses-and-benefits thumbnail https://www.feldonaccountancy.co.uk/2024/04/taxable-employment-benefits-from-april-2026 From April 2026, the government will mandate the reporting and paying of Income Tax and Class 1A National Insurance Contributions on benefits in kind via payroll software. This represents a The post Taxable employment benefits from April 2026 appeared first on Feldon Accountancy. Thu, 18 Apr 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/04/taxable-employment-benefits-from-april-2026 thumbnail https://www.feldonaccountancy.co.uk/2024/04/tax-diary-may-june-2024 1 May 2024 - Due date for corporation tax due for the year ended 30 July 2023. 19 May 2024 - PAYE and NIC deductions due for month ended 5 May 2024. (If you pay your tax electronically the due date The post Tax Diary May/June 2024 appeared first on Feldon Accountancy. Thu, 18 Apr 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/04/tax-diary-may-june-2024 thumbnail https://www.feldonaccountancy.co.uk/2024/04/class-4-nics-who-is-liable Most self-employed people are required to pay Class 4 National Insurance contributions (NICs) if their profits are £12,570 or more a year. Class 4 NIC rates for the tax year 2024-25 are 6% (2023-24: The post Class 4 NICs who is liable? appeared first on Feldon Accountancy. Thu, 18 Apr 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/04/class-4-nics-who-is-liable thumbnail https://www.feldonaccountancy.co.uk/2024/04/covid-bounce-back-abuse The Insolvency Service has recently published information confirming that a total of 831 company directors were banned in 2023-24 for Covid support scheme abuse, up more than 80% on the previous year, The post COVID Bounce Back abuse appeared first on Feldon Accountancy. Tue, 16 Apr 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/04/covid-bounce-back-abuse thumbnail https://www.feldonaccountancy.co.uk/2024/04/settling-energy-disputes Business owners that are in dispute with their energy suppliers will be interested in the free support on offer from the Energy Ombudsman. In a recent press release the Department for Energy Security The post Settling energy disputes appeared first on Feldon Accountancy. Tue, 16 Apr 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/04/settling-energy-disputes thumbnail https://www.feldonaccountancy.co.uk/2024/04/accessing-the-hmrc-mobile-app HMRC’s free tax app is available to download from the App Store for iOS and from the Google Play Store for Android. The latest version of the app includes updated functionality. The app can be used The post Accessing the HMRC mobile APP appeared first on Feldon Accountancy. Thu, 11 Apr 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/04/accessing-the-hmrc-mobile-app thumbnail https://www.feldonaccountancy.co.uk/2024/04/termination-payment-clearance-process The tax treatment of termination payments has changed significantly over recent years. The changes have aligned the rules for tax and secondary National Insurance contributions (employer (NICs)) by The post Termination payment clearance process appeared first on Feldon Accountancy. Thu, 11 Apr 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/04/termination-payment-clearance-process thumbnail https://www.feldonaccountancy.co.uk/2024/04/paying-vat-on-goods-from-eu-to-northern-ireland There are special procedures for moving goods in and out of Northern Ireland. Under the Northern Ireland Protocol, all Northern Ireland businesses continue to have access to the whole UK market. The post Paying VAT on goods from EU to Northern Ireland appeared first on Feldon Accountancy. Thu, 11 Apr 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/04/paying-vat-on-goods-from-eu-to-northern-ireland thumbnail https://www.feldonaccountancy.co.uk/2024/04/vat-retail-schemes VAT retail schemes are a special set of schemes used by retail businesses to account for VAT. The schemes are used by businesses that sell a significant amount of low value and/or small quantity items The post VAT retail schemes appeared first on Feldon Accountancy. Thu, 11 Apr 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/04/vat-retail-schemes thumbnail https://www.feldonaccountancy.co.uk/2024/04/using-the-starter-paye-checklist Employers that take on a new employee need to work out which tax code and starter declaration to use in their payroll software. Incorrect tax codes can lead to a new employee paying more tax than is The post Using the starter PAYE checklist appeared first on Feldon Accountancy. Thu, 11 Apr 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/04/using-the-starter-paye-checklist thumbnail https://www.feldonaccountancy.co.uk/2024/04/hmrc-continues-to-target-till-fraud HMRC has, for many years, looked to target businesses that deliberately undertake electronic sales suppression (ESS). ESS happens where a business deliberately manipulates its electronic sales records The post HMRC continues to target till fraud appeared first on Feldon Accountancy. Thu, 11 Apr 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/04/hmrc-continues-to-target-till-fraud thumbnail https://www.feldonaccountancy.co.uk/2024/04/new-employment-protections New legislation, including three Government backed cross party Acts, came into force from 6 April 2024. Pregnant women and new parents will now receive special treatment in a redundancy situation, as The post New employment protections appeared first on Feldon Accountancy. Tue, 09 Apr 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/04/new-employment-protections thumbnail https://www.feldonaccountancy.co.uk/2024/04/what-do-we-mean-by-profit When most business owners refer to business profits, they are likely to mean the difference between sales and costs, and more concisely, that sales exceed costs. However, the word The post What do we mean by profit? appeared first on Feldon Accountancy. Tue, 09 Apr 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/04/what-do-we-mean-by-profit thumbnail https://www.feldonaccountancy.co.uk/2024/04/to-register-or-not-to-register In the recent Spring Budget, the VAT registration threshold was raised to £90,000 (previously £85,000) which means that smaller businesses that did not want to register for VAT, now have an additional The post To register or not to register appeared first on Feldon Accountancy. Fri, 05 Apr 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/04/to-register-or-not-to-register thumbnail https://www.feldonaccountancy.co.uk/2024/04/measures-to-support-household-budgets-from-1-april In a recent press release the government confirmed the following policies to support household incomes from 1 April 2024. The National Living Wage has officially risen from £10.42 an hour to The post Measures to support household budgets from 1 April appeared first on Feldon Accountancy. Fri, 05 Apr 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/04/measures-to-support-household-budgets-from-1-april thumbnail https://www.feldonaccountancy.co.uk/2024/04/online-check-how-to-import-or-export-goods HMRC has a useful online tool to help UK business owners check how to import or export goods. This online tool can be used by businesses, the self-employed and agents acting on behalf of a The post Online check how to import or export goods appeared first on Feldon Accountancy. Thu, 04 Apr 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/04/online-check-how-to-import-or-export-goods thumbnail https://www.feldonaccountancy.co.uk/2024/04/more-about-emergency-tax-codes The letters in an employee’s tax code signify their entitlement (or not) to the annual tax free personal allowance. The tax codes are updated annually and help employer’s work out how much tax to The post More about emergency tax codes appeared first on Feldon Accountancy. Thu, 04 Apr 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/04/more-about-emergency-tax-codes thumbnail https://www.feldonaccountancy.co.uk/2024/04/tax-free-mileage-expenses If you use your own vehicle for business journeys you may be able to claim a tax-free allowance from your employer known as a Mileage Allowance Payment or MAP. The allowance is paid when employees use The post Tax-free mileage expenses appeared first on Feldon Accountancy. Thu, 04 Apr 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/04/tax-free-mileage-expenses thumbnail https://www.feldonaccountancy.co.uk/2024/04/restarting-a-dormant-or-non-trading-company HMRC must be informed when a non-trading or dormant company starts trading and becomes active for Corporation Tax purposes. Companies can use HMRC Online Services to supply the relevant information. The post Restarting a dormant or non-trading company appeared first on Feldon Accountancy. Thu, 04 Apr 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/04/restarting-a-dormant-or-non-trading-company thumbnail https://www.feldonaccountancy.co.uk/2024/04/claim-tax-relief-on-pension-contributions You can usually claim tax relief on private pension contributions worth up to 100% of your annual earnings, subject to the overriding limits. Tax relief is paid on pension contributions at the highest The post Claim tax relief on pension contributions appeared first on Feldon Accountancy. Thu, 04 Apr 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/04/claim-tax-relief-on-pension-contributions thumbnail https://www.feldonaccountancy.co.uk/2024/04/claim-tax-relief-if-working-from-home If you are an employee who is working from home, you may be able to claim tax relief for part of your household bills that are related to your work. If your expenses or allowances are not paid by your The post Claim tax relief if working from home appeared first on Feldon Accountancy. Thu, 04 Apr 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/04/claim-tax-relief-if-working-from-home thumbnail https://www.feldonaccountancy.co.uk/2024/03/hmrc-to-accept-service-of-legal-proceedings-by-email HMRC has issued an updated ‘news story’ to confirm that, where possible, new legal proceedings and pre-action letters can be served on the department using email instead of post. This measure was The post HMRC to accept service of legal proceedings by email appeared first on Feldon Accountancy. Wed, 27 Mar 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/03/hmrc-to-accept-service-of-legal-proceedings-by-email thumbnail https://www.feldonaccountancy.co.uk/2024/03/hmrc-helpline-changes-on-hold HMRC has been forced into an embarrassing climbdown on plans to close the Self-Assessment, VAT and PAYE helplines from early April until September this year. HMRC has now confirmed that these helpline The post HMRC helpline changes on hold appeared first on Feldon Accountancy. Wed, 27 Mar 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/03/hmrc-helpline-changes-on-hold thumbnail https://www.feldonaccountancy.co.uk/2024/03/assistance-with-debt-management Earlier this month, saw the 10th anniversary of the StepChange Debt Charity’s annual Debt Awareness Week. This is designed to shine a spotlight on the causes of problem debt. The focus on this year's The post Assistance with debt management appeared first on Feldon Accountancy. Wed, 27 Mar 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/03/assistance-with-debt-management thumbnail https://www.feldonaccountancy.co.uk/2024/03/rent-a-room-scheme-another-income-stream The rent-a-room scheme is a set of special rules designed to help homeowners who rent-a-room in their home to create a valuable tax free income stream. If you are using this scheme, you should ensure The post Rent a Room Scheme – another income stream appeared first on Feldon Accountancy. Wed, 27 Mar 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/03/rent-a-room-scheme-another-income-stream thumbnail https://www.feldonaccountancy.co.uk/2024/03/what-are-the-off-payroll-working-rules The rules for individuals providing services via an intermediary such as a personal service company (PSC) are complex. The rules apply if the worker who provides services to a client through their own The post What are the off-payroll working rules? appeared first on Feldon Accountancy. Wed, 27 Mar 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/03/what-are-the-off-payroll-working-rules thumbnail https://www.feldonaccountancy.co.uk/2024/03/entitlement-to-carers-allowance Carer’s credit is a National Insurance credit that can help carers to fill gaps in their National Insurance record. Carers who don’t qualify for Carer’s Allowance may qualify for Carer’s Credit. This The post Entitlement to carer’s allowance appeared first on Feldon Accountancy. Wed, 27 Mar 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/03/entitlement-to-carers-allowance thumbnail https://www.feldonaccountancy.co.uk/2024/03/time-to-rethink-the-credit-you-offer-your-customers Most business owners are driven by sales targets and to meet these targets they may be tempted to offer extended payment terms. For example, if your business grants a customer time to pay - say 60 The post Time to rethink the credit you offer your customers appeared first on Feldon Accountancy. Tue, 26 Mar 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/03/time-to-rethink-the-credit-you-offer-your-customers thumbnail https://www.feldonaccountancy.co.uk/2024/03/we-are-unpaid-tax-collectors Clients often refer to the VAT added to supplier invoices as if it were a cost to their business regardless of their VAT position. This is true if you are not registered for VAT, you do not have to The post We are unpaid tax collectors appeared first on Feldon Accountancy. Tue, 26 Mar 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/03/we-are-unpaid-tax-collectors thumbnail https://www.feldonaccountancy.co.uk/2024/03/what-a-tax-code-means The letters in your tax code signify your entitlement (or not) to the annual tax free personal allowance. The tax codes are updated periodically and help employer’s work out how much tax to deduct The post What a tax code means appeared first on Feldon Accountancy. Thu, 21 Mar 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/03/what-a-tax-code-means thumbnail https://www.feldonaccountancy.co.uk/2024/03/tax-free-child-care HMRC is reminding parents that they may be eligible for Tax-Free Childcare (TFC) to help pay for Easter school holidays childcare costs. The TFC scheme can help parents of children aged up to 11 The post Tax-free child care appeared first on Feldon Accountancy. Thu, 21 Mar 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/03/tax-free-child-care thumbnail https://www.feldonaccountancy.co.uk/2024/03/declare-a-beneficial-interests-in-joint-property The usual tax position for couples who live together with their spouse or civil partners is that property income held in joint names is divided 50:50. This is regardless of the actual ownership The post Declare a beneficial interests in joint property appeared first on Feldon Accountancy. Thu, 21 Mar 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/03/declare-a-beneficial-interests-in-joint-property thumbnail https://www.feldonaccountancy.co.uk/2024/03/invest-and-save-tax The Annual Investment Allowance (AIA) is a generous tax relief that allows for the total amount of qualifying expenditure on plant and machinery to be deducted from your profits before tax. The AIA The post Invest and save tax appeared first on Feldon Accountancy. Thu, 21 Mar 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/03/invest-and-save-tax thumbnail https://www.feldonaccountancy.co.uk/2024/03/workplace-pension-responsibilities Automatic enrolment for workplace pensions has helped many employees make provision for their retirement, with employers and government also contributing to make a larger pension pot. The law states The post Workplace pension responsibilities appeared first on Feldon Accountancy. Thu, 21 Mar 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/03/workplace-pension-responsibilities thumbnail https://www.feldonaccountancy.co.uk/2024/03/check-your-national-insurance-record There is an online service available on HMRC to check your National Insurance Contributions (NIC) record online. The service is available at https://www.gov.uk/check-national-insurance-record In The post Check your National Insurance record appeared first on Feldon Accountancy. Thu, 21 Mar 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/03/check-your-national-insurance-record thumbnail https://www.feldonaccountancy.co.uk/2024/03/apprenticeships-boost From the start of April 2024, the government will increase the amount of funding that employers who are paying the apprenticeship levy can pass onto other businesses. Apprenticeships can currently be The post Apprenticeships boost appeared first on Feldon Accountancy. Tue, 19 Mar 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/03/apprenticeships-boost thumbnail https://www.feldonaccountancy.co.uk/2024/03/customs-declaration-service-open-for-business All businesses can now move their export declarations to the Customs Declaration Service (CDS), HMRC has confirmed. Businesses who have yet to move their export declarations to CDS will have a The post Customs Declaration Service open for business appeared first on Feldon Accountancy. Tue, 19 Mar 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/03/customs-declaration-service-open-for-business thumbnail https://www.feldonaccountancy.co.uk/2024/03/changing-a-companys-accounting-year-end There are special rules which limit the ability to change your company’s accounting year end date. A company’s year end date is also known as its ‘accounting reference date’ and is historically set by The post Changing a company’s accounting year end appeared first on Feldon Accountancy. Thu, 14 Mar 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/03/changing-a-companys-accounting-year-end thumbnail https://www.feldonaccountancy.co.uk/2024/03/company-confirmation-statement-changes As well as filing accounts with Companies House, there is an important requirement to check that the information Companies House has about your company is correct every year. This is facilitated by The post Company confirmation statement changes appeared first on Feldon Accountancy. Thu, 14 Mar 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/03/company-confirmation-statement-changes thumbnail https://www.feldonaccountancy.co.uk/2024/03/tax-on-savings-interest If you have taxable income of less than £17,570 in 2023-24 you will have no tax to pay on interest received. This figure is calculated by adding the £5,000 starting rate limit for savings (where 0% of The post Tax on savings interest appeared first on Feldon Accountancy. Thu, 14 Mar 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/03/tax-on-savings-interest thumbnail https://www.feldonaccountancy.co.uk/2024/03/still-time-to-register-for-the-marriage-allowance There is still time to register for the marriage allowance before the current tax year ends on 5 April 2024. The marriage allowance applies to married couples and those in a civil partnership where a The post Still time to register for the Marriage Allowance appeared first on Feldon Accountancy. Thu, 14 Mar 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/03/still-time-to-register-for-the-marriage-allowance thumbnail https://www.feldonaccountancy.co.uk/2024/03/eligibility-for-replacement-of-domestic-items-relief The replacement of domestic items relief enables landlords to claim tax relief when they replace movable furniture, furnishings, household appliances and kitchenware in a rental property. The The post Eligibility for replacement of domestic items relief appeared first on Feldon Accountancy. Thu, 14 Mar 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/03/eligibility-for-replacement-of-domestic-items-relief thumbnail https://www.feldonaccountancy.co.uk/2024/03/tax-diary-april-may-2024 1 April 2024 - Due date for corporation tax due for the year ended 30 June 2023. 19 April 2024 - PAYE and NIC deductions due for month ended 5 April 2024. (If you pay your tax electronically the due The post Tax Diary April/May 2024 appeared first on Feldon Accountancy. Thu, 14 Mar 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/03/tax-diary-april-may-2024 thumbnail https://www.feldonaccountancy.co.uk/2024/03/register-of-overseas-entities The Register of Overseas Entities came into force in the UK on 1 August 2022. The register is held by Companies House and requires overseas entities that own land or property in the UK to declare The post Register of Overseas Entities appeared first on Feldon Accountancy. Thu, 14 Mar 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/03/register-of-overseas-entities thumbnail https://www.feldonaccountancy.co.uk/2024/03/public-sector-productivity In a recent announcement by the Treasury, it was announced that plans are afoot to deliver up to £1.8bn of productivity benefits by 2029. The aim is to improve public sector productivity, including The post Public sector productivity appeared first on Feldon Accountancy. Tue, 12 Mar 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/03/public-sector-productivity thumbnail https://www.feldonaccountancy.co.uk/2024/03/tech-companies-assist-with-fuel-price-transparency Leaders from top comparison sites, RAC and The AA will be among those meeting the Energy Affordability Minister to help share new fuel price data and keep costs down for motorists. Price comparison The post Tech companies assist with fuel price transparency appeared first on Feldon Accountancy. Tue, 12 Mar 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/03/tech-companies-assist-with-fuel-price-transparency thumbnail https://www.feldonaccountancy.co.uk/2024/03/spring-budget-2024-cgt-on-disposals-of-residential-property A higher rate of Capital Gains Tax (CGT) applies to gains on the disposal of residential property if the gain falls into the higher rate band. In the Spring Budget, the Chancellor announced a The post Spring Budget 2024 – CGT on disposals of residential property appeared first on Feldon Accountancy. Thu, 07 Mar 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/03/spring-budget-2024-cgt-on-disposals-of-residential-property thumbnail https://www.feldonaccountancy.co.uk/2024/03/spring-budget-2024-high-income-child-benefit-charge The High Income Child Benefit Charge (HICBC) came into force January 2013 and has applied to taxpayers whose income exceeds £50,000 in a tax year and who are in receipt of child benefit. It was The post Spring Budget 2024 – High Income Child Benefit Charge appeared first on Feldon Accountancy. Thu, 07 Mar 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/03/spring-budget-2024-high-income-child-benefit-charge thumbnail https://www.feldonaccountancy.co.uk/2024/03/spring-budget-2024-non-dom-changes In a move that may partly have been prompted by seeking to mirror a longstanding policy of the Labour party, the Chancellor has announced that the generous non-dom rules are to be axed. From April The post Spring Budget 2024 – non-dom changes appeared first on Feldon Accountancy. Thu, 07 Mar 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/03/spring-budget-2024-non-dom-changes thumbnail https://www.feldonaccountancy.co.uk/2024/03/spring-budget-2024-fuel-duty-rates In the Spring Budget, the Chancellor extended the fuel duty cut for a further 12 months to help support households and businesses at a time of high oil prices. The Chancellor acknowledged that the The post Spring Budget 2024 – Fuel Duty rates appeared first on Feldon Accountancy. Thu, 07 Mar 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/03/spring-budget-2024-fuel-duty-rates thumbnail https://www.feldonaccountancy.co.uk/2024/03/spring-budget-2024-vat-registration-threshold-changes The taxable turnover threshold that determines whether businesses should be registered for VAT will increase from £85,000 to £90,000 from 1 April 2024. The taxable turnover threshold that determines The post Spring Budget 2024 – VAT registration threshold changes appeared first on Feldon Accountancy. Thu, 07 Mar 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/03/spring-budget-2024-vat-registration-threshold-changes thumbnail https://www.feldonaccountancy.co.uk/2024/03/spring-budget-2024-alcohol-and-tobacco-duty As part of the Spring Budget measures, the Chancellor announced that the duty rates on beer, cider, wine and spirits would be frozen at the current rates from 1 August 2024 until 1 February 2025. This The post Spring Budget 2024 – Alcohol and Tobacco Duty appeared first on Feldon Accountancy. Thu, 07 Mar 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/03/spring-budget-2024-alcohol-and-tobacco-duty thumbnail https://www.feldonaccountancy.co.uk/2024/03/spring-budget-2024-nic-changes As had been widely expected, the Chancellor announced further changes to National Insurance contributions (NIC) rates for employees and the self-employed. There will be a further 2% cut in the main The post Spring Budget 2024 – NIC changes appeared first on Feldon Accountancy. Thu, 07 Mar 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/03/spring-budget-2024-nic-changes thumbnail https://www.feldonaccountancy.co.uk/2024/03/budget-summary-6-march-2024 As expected, the Chancellor has found wriggle room in his fiscal rules that have allowed him to please his fellow Conservatives by reducing the impact of taxation. Not an unfamiliar tactic for a The post Budget summary 6 March 2024 appeared first on Feldon Accountancy. Wed, 06 Mar 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/03/budget-summary-6-march-2024 thumbnail https://www.feldonaccountancy.co.uk/2024/03/pension-fund-reforms The Chancellor announced pension fund reforms as a further step in the government’s plan to boost British business and increase returns for savers. This includes requirements for Defined Contribution The post Pension fund reforms appeared first on Feldon Accountancy. Mon, 04 Mar 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/03/pension-fund-reforms thumbnail https://www.feldonaccountancy.co.uk/2024/03/companies-house-rolls-out-new-powers The first measures under the Economic Crime and Corporate Transparency Act 2023 (ECCT Act) came into force on Monday 4 March 2024. Changes introduced include: greater powers to query information The post Companies House rolls-out new powers appeared first on Feldon Accountancy. Mon, 04 Mar 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/03/companies-house-rolls-out-new-powers thumbnail https://www.feldonaccountancy.co.uk/2024/02/companies-house-filing-fees-increase Companies House has announced that some of their fees will be changing from 1 May 2024. The last change in fees was April 2016. The fees have been calculated on a ‘cost recovery’ basis meaning that The post Companies House filing fees increase appeared first on Feldon Accountancy. Thu, 29 Feb 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/02/companies-house-filing-fees-increase thumbnail https://www.feldonaccountancy.co.uk/2024/02/advise-hmrc-if-company-is-dormant If a company has stopped trading and has no other income, then the company is usually classed as dormant for Corporation Tax purposes. A company is usually dormant for Corporation Tax if it: has The post Advise HMRC if company is dormant appeared first on Feldon Accountancy. Thu, 29 Feb 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/02/advise-hmrc-if-company-is-dormant thumbnail https://www.feldonaccountancy.co.uk/2024/02/holiday-lets-averaging-election The furnished holiday let (FHL) rules allow holiday lettings of properties that meet certain conditions to be treated as a trade for tax purposes. In order to qualify as a furnished holiday letting, The post Holiday Lets averaging election appeared first on Feldon Accountancy. Thu, 29 Feb 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/02/holiday-lets-averaging-election thumbnail https://www.feldonaccountancy.co.uk/2024/02/contractors-and-cis The Construction Industry Scheme (CIS) is a set of special rules for tax and National Insurance for those working in the construction industry. Businesses in the construction industry are known as The post Contractors and CIS appeared first on Feldon Accountancy. Thu, 29 Feb 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/02/contractors-and-cis thumbnail https://www.feldonaccountancy.co.uk/2024/02/update-on-the-tax-status-of-double-cab-pick-ups HMRC had published an update, on 12 February 2024, on the tax status of Double Cab Pick Ups (DCPUs), following a 2020 Court of Appeal judgment. The update announced that effective from 1 July 2024, The post Update on the tax status of Double Cab Pick Ups appeared first on Feldon Accountancy. Thu, 29 Feb 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/02/update-on-the-tax-status-of-double-cab-pick-ups thumbnail https://www.feldonaccountancy.co.uk/2024/02/appeals-against-tax-penalties It is not unusual for taxpayers to find themselves in a position where they disagree with a tax decision issued by HMRC. There are a number of different options open to taxpayers seeking to use the The post Appeals against tax penalties appeared first on Feldon Accountancy. Thu, 29 Feb 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/02/appeals-against-tax-penalties thumbnail https://www.feldonaccountancy.co.uk/2024/02/crack-down-on-fire-and-rehire-practices The Government has announced action to tackle the use of controversial 'fire and rehire' practices. In a press release issued 19 February 2024 they said: “Action against unscrupulous employers The post Crack down on ‘fire and rehire’ practices appeared first on Feldon Accountancy. Wed, 28 Feb 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/02/crack-down-on-fire-and-rehire-practices thumbnail https://www.feldonaccountancy.co.uk/2024/02/a-new-champion-for-small-businesses-appointed An experienced entrepreneur has taken up a key role to promote the needs of small businesses to government and ensure suppliers seize the benefits of the Procurement Act. Shirley Cooper OBE, former The post A new champion for small businesses appointed appeared first on Feldon Accountancy. Wed, 28 Feb 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/02/a-new-champion-for-small-businesses-appointed thumbnail https://www.feldonaccountancy.co.uk/2024/02/beware-fake-tax-rebate-offers HMRC continues to warn of the ever-present problem of fraudulent phishing emails, suspicious phone calls and texts. These unwanted emails, phone calls and texts are being sent from around the world as The post Beware fake tax rebate offers appeared first on Feldon Accountancy. Thu, 22 Feb 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/02/beware-fake-tax-rebate-offers thumbnail https://www.feldonaccountancy.co.uk/2024/02/types-of-limited-companies A limited company is a company ‘limited by shares’ or ‘limited by guarantee’. Limited by shares This is the most common limited company structure. A limited by shares company is a separate legal The post Types of limited companies appeared first on Feldon Accountancy. Thu, 22 Feb 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/02/types-of-limited-companies thumbnail https://www.feldonaccountancy.co.uk/2024/02/entitlement-to-business-asset-disposal-relief Business Asset Disposal Relief (BADR) applies to the sale of a business, shares in a trading company or an individual’s interest in a trading partnership. Where this relief is available sellers can The post Entitlement to Business asset disposal relief appeared first on Feldon Accountancy. Thu, 22 Feb 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/02/entitlement-to-business-asset-disposal-relief thumbnail https://www.feldonaccountancy.co.uk/2024/02/letting-part-of-your-home In general, there is no Capital Gains Tax (CGT) on a property which has been used as the family's main residence. This relief from CGT is commonly known as Private Residence Relief or PRR. However, The post Letting part of your home appeared first on Feldon Accountancy. Thu, 22 Feb 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/02/letting-part-of-your-home thumbnail https://www.feldonaccountancy.co.uk/2024/02/cost-of-living-final-payment-2023-24 The Cost of Living support package has been designed to help over 8 million households in receipt of means tested benefits. The details of Cost of Living Payments due in the 2023-24 tax year were The post Cost of living final payment 2023-24 appeared first on Feldon Accountancy. Thu, 22 Feb 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/02/cost-of-living-final-payment-2023-24 thumbnail https://www.feldonaccountancy.co.uk/2024/02/are-you-self-employed Self-employed taxpayers should notify HMRC as soon as practicable when they begin working for themselves. HMRC must be officially notified by 5 October following the end of the tax year so that a The post Are you self-employed? appeared first on Feldon Accountancy. Thu, 22 Feb 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/02/are-you-self-employed thumbnail https://www.feldonaccountancy.co.uk/2024/02/importing-or-exporting-for-the-first-time If you are considering selling or buying to or from companies based outside the UK, you may well be overawed by the plethora of regulation you are required to be familiar. As a first step, you could The post Importing or exporting for the first time? appeared first on Feldon Accountancy. Tue, 20 Feb 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/02/importing-or-exporting-for-the-first-time thumbnail https://www.feldonaccountancy.co.uk/2024/02/top-line-bottom-line Most small business owners are happy, from a financial point of view, if sales are in line with expectations. And there are obvious grounds for this conclusion, after all, if sales dry up there are no The post Top-line, bottom-line? appeared first on Feldon Accountancy. Tue, 20 Feb 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/02/top-line-bottom-line thumbnail https://www.feldonaccountancy.co.uk/2024/02/autumn-finance-bill-2023-update The government published the Autumn Finance Bill 2023 on 29 November 2023. The Bill is officially known as Finance Bill 2023-24. The Bill contains the legislation for many of the tax measures The post Autumn Finance Bill 2023 update appeared first on Feldon Accountancy. Thu, 15 Feb 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/02/autumn-finance-bill-2023-update thumbnail https://www.feldonaccountancy.co.uk/2024/02/eligibility-for-the-vat-flat-rate-scheme The VAT Flat Rate scheme is open to VAT registered businesses that expect their taxable turnover in the next 12 months to be no more than £150,000, excluding VAT. The annual taxable turnover limit is The post Eligibility for the VAT Flat Rate Scheme appeared first on Feldon Accountancy. Thu, 15 Feb 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/02/eligibility-for-the-vat-flat-rate-scheme thumbnail https://www.feldonaccountancy.co.uk/2024/02/checking-furnished-holiday-let-property-occupancy The furnished holiday let (FHL) rules allow holiday lettings of properties that meet certain conditions to be treated as a trade for tax purposes. In order to qualify as a furnished holiday letting, The post Checking Furnished Holiday Let property occupancy appeared first on Feldon Accountancy. Thu, 15 Feb 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/02/checking-furnished-holiday-let-property-occupancy thumbnail https://www.feldonaccountancy.co.uk/2024/02/a-reminder-that-nlw-and-nmw-rates-are-increasing A reminder for our readers that the National Living Wage (NLW) and the National Minimum Wage (NMW) rates will increase with effect from 1 April 2024. The increase will see the NLW rate increased to The post A reminder that NLW and NMW rates are increasing appeared first on Feldon Accountancy. Thu, 15 Feb 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/02/a-reminder-that-nlw-and-nmw-rates-are-increasing thumbnail https://www.feldonaccountancy.co.uk/2024/02/tax-on-inherited-private-pensions Private pensions can be an efficient way to pass on wealth, but it is important to consider what, if any, tax will be payable on a private pension you inherit. The person who died will usually have The post Tax on inherited private pensions appeared first on Feldon Accountancy. Thu, 15 Feb 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/02/tax-on-inherited-private-pensions thumbnail https://www.feldonaccountancy.co.uk/2024/02/what-is-class-1a-nic Class 1A NICs are paid by employers in respect of most benefits in kind provided to employees such as a company car. Class 1A NICs are also due on charge on termination awards above a £30,000 The post What is Class 1A NIC? appeared first on Feldon Accountancy. Thu, 15 Feb 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/02/what-is-class-1a-nic thumbnail https://www.feldonaccountancy.co.uk/2024/02/full-time-and-part-time-contracts As an employer, the tax and employment responsibilities you have for your staff will depend on the type of contract you give them and their employment status. Contract types include: full-time and The post Full-time and part-time contracts appeared first on Feldon Accountancy. Wed, 14 Feb 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/02/full-time-and-part-time-contracts thumbnail https://www.feldonaccountancy.co.uk/2024/02/the-valuation-office-agency-tackles-holiday-lets The Valuation Office Agency (VOA) is writing to some owners of self-catering holiday lets that are assessed for business rates. They are doing this because they need further information about the The post The Valuation Office Agency tackles holiday lets appeared first on Feldon Accountancy. Wed, 14 Feb 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/02/the-valuation-office-agency-tackles-holiday-lets thumbnail https://www.feldonaccountancy.co.uk/2024/02/tax-diary-march-april-2024 1 March 2024 - Due date for Corporation Tax due for the year ended 31 May 2023. 2 March 2024 - Self-Assessment tax for 2022-23 paid after this date will incur a 5% surcharge unless liabilities are The post Tax Diary March/April 2024 appeared first on Feldon Accountancy. Fri, 09 Feb 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/02/tax-diary-march-april-2024 thumbnail https://www.feldonaccountancy.co.uk/2024/02/record-number-of-taxpayers-file-on-time HMRC has confirmed that more than 11.5 million people submitted their 2022-23 self-assessment tax returns by the 31 January deadline. This included over 778,000 taxpayers who left their filing until The post Record number of taxpayers file on time appeared first on Feldon Accountancy. Thu, 08 Feb 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/02/record-number-of-taxpayers-file-on-time thumbnail https://www.feldonaccountancy.co.uk/2024/02/alcohol-duty-freeze-takes-effect As part of the Autumn Statement measures the Chancellor announced that the duty rates on beer, cider, wine and spirits would be frozen at the current rates until 1 August 2024. This change took effect The post Alcohol duty freeze takes effect appeared first on Feldon Accountancy. Thu, 08 Feb 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/02/alcohol-duty-freeze-takes-effect thumbnail https://www.feldonaccountancy.co.uk/2024/02/using-your-own-vehicles-for-work-related-journeys If you are an employee and use your own money to buy things you need for your job you can sometimes claim tax relief for the associated costs. Usually, it is only possible to claim tax relief for the The post Using your own vehicles for work-related journeys appeared first on Feldon Accountancy. Thu, 08 Feb 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/02/using-your-own-vehicles-for-work-related-journeys thumbnail https://www.feldonaccountancy.co.uk/2024/02/should-you-pay-tax-on-selling-goods-online HMRC has published new guidance for taxpayers that regularly sell goods or services through an online marketplace. The guidance makes it clear that this activity could be treated as a ‘trade’ for UK The post Should you pay tax on selling goods online? appeared first on Feldon Accountancy. Thu, 08 Feb 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/02/should-you-pay-tax-on-selling-goods-online thumbnail https://www.feldonaccountancy.co.uk/2024/02/reporting-employee-changes-to-hmrc There are rules that businesses must follow when they are reporting employee changes. These changes must be sent to HMRC using a Full Payment Submission (FPS). The FPS is a submission that is required The post Reporting employee changes to HMRC appeared first on Feldon Accountancy. Thu, 08 Feb 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/02/reporting-employee-changes-to-hmrc thumbnail https://www.feldonaccountancy.co.uk/2024/02/landlords-claiming-maintenance-and-repairs-costs Landlords are able to claim for allowable expenses as a deduction from their rental income when calculating taxable rental profits to declare to HMRC. The expenses must relate wholly and exclusively The post Landlords – claiming maintenance and repairs costs appeared first on Feldon Accountancy. Thu, 08 Feb 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/02/landlords-claiming-maintenance-and-repairs-costs thumbnail https://www.feldonaccountancy.co.uk/2024/02/does-your-business-offer-customs-services If your business does offer customs services, did you know that HMRC could offer you a free listing on their published lists. HMRC do not vet, approve or recommend individual firms. Information is The post Does your business offer customs services? appeared first on Feldon Accountancy. Tue, 06 Feb 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/02/does-your-business-offer-customs-services thumbnail https://www.feldonaccountancy.co.uk/2024/02/government-promotes-electric-vehicles The government department active in the promotion of electric vehicles has published guidance regarding the costs, charging issues and infrastructure. We have extracted a few comments and reproduced The post Government promotes electric vehicles appeared first on Feldon Accountancy. Tue, 06 Feb 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/02/government-promotes-electric-vehicles thumbnail https://www.feldonaccountancy.co.uk/2024/02/capital-sums-derived-from-assets HMRC’s guidance is clear that where a capital sum is derived from an asset, the relevant legislation treats the owner as having made a disposal for capital gains purposes. The legislation contained The post Capital sums derived from assets appeared first on Feldon Accountancy. Thu, 01 Feb 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/02/capital-sums-derived-from-assets thumbnail https://www.feldonaccountancy.co.uk/2024/02/joining-or-leaving-the-vat-cash-accounting-scheme The VAT Cash Accounting Scheme can offer useful benefits to small businesses. Under standard VAT accounting, VAT is payable on sales whether or not the customer has paid and can lead to claims for Bad The post Joining or leaving the VAT Cash Accounting Scheme appeared first on Feldon Accountancy. Thu, 01 Feb 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/02/joining-or-leaving-the-vat-cash-accounting-scheme thumbnail https://www.feldonaccountancy.co.uk/2024/02/file-early-to-have-self-assessment-tax-coded-out The coding out threshold may entitle you to have tax underpayments collected via your tax code when you are in employment or in receipt of a company pension. Instead of paying off debts in a lump sum, The post File early to have self-assessment tax coded out appeared first on Feldon Accountancy. Thu, 01 Feb 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/02/file-early-to-have-self-assessment-tax-coded-out thumbnail https://www.feldonaccountancy.co.uk/2024/02/penalties-if-you-missed-the-filing-deadline Have you missed the 31 January 2024 filing deadline for your 2022-23 self-assessment return? If you have missed the filing deadline, then you will be charged a £100 fixed penalty if your return is up The post Penalties if you missed the filing deadline appeared first on Feldon Accountancy. Thu, 01 Feb 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/02/penalties-if-you-missed-the-filing-deadline thumbnail https://www.feldonaccountancy.co.uk/2024/02/do-you-need-to-tell-hmrc-about-additional-income There is an online tool that allows taxpayers to check if they need to notify HMRC about additional income. The online tool can be found at www.gov.uk/check-additional-income-tax. This could include The post Do you need to tell HMRC about additional income? appeared first on Feldon Accountancy. Thu, 01 Feb 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/02/do-you-need-to-tell-hmrc-about-additional-income thumbnail https://www.feldonaccountancy.co.uk/2024/02/time-to-pay-your-tax Businesses and self-employed people in financial distress, and with outstanding tax liabilities, may be eligible to receive support with their tax affairs through HMRC’s Time to Pay service. Any tax, The post Time to Pay your tax appeared first on Feldon Accountancy. Thu, 01 Feb 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/02/time-to-pay-your-tax thumbnail https://www.feldonaccountancy.co.uk/2024/01/does-your-business-have-a-march-year-end-date Leaving aside tax planning issues all businesses should be considering business planning opportunities if they presently have an accounting year end date of 31 March 2024. For example: Do The post Does your business have a March year end date? appeared first on Feldon Accountancy. Mon, 29 Jan 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/01/does-your-business-have-a-march-year-end-date thumbnail https://www.feldonaccountancy.co.uk/2024/01/changes-at-companies-house Companies House have issued an update on their first implementation of changes brought about by The Economic Crime and Corporate Transparency Act. We have copied in the relevant comments made in a The post Changes at Companies House appeared first on Feldon Accountancy. Mon, 29 Jan 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/01/changes-at-companies-house thumbnail https://www.feldonaccountancy.co.uk/2024/01/tax-and-working-from-home Employees who are working from home may be able to claim tax relief for bills they pay that are work related. Employers may reimburse employees for the additional household expenses incurred through The post Tax and working from home appeared first on Feldon Accountancy. Thu, 25 Jan 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/01/tax-and-working-from-home thumbnail https://www.feldonaccountancy.co.uk/2024/01/reporting-company-car-changes There is a requirement to notify HMRC if you make any company cars available for private use by company directors or employees. The definition of ‘Private use’ includes employees’ journeys between The post Reporting company car changes appeared first on Feldon Accountancy. Thu, 25 Jan 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/01/reporting-company-car-changes thumbnail https://www.feldonaccountancy.co.uk/2024/01/assets-made-available-to-an-employee Assets such as computers, televisions and bicycles that are made available to employees can create certain tax, National Insurance and reporting obligations. There is no requirement to report anything The post Assets made available to an employee appeared first on Feldon Accountancy. Thu, 25 Jan 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/01/assets-made-available-to-an-employee thumbnail https://www.feldonaccountancy.co.uk/2024/01/correcting-payroll-mistakes Employers generally use payroll software or other payroll services to record employees pay, deductions and National Insurance contributions on or before each payday. They also need to consider other The post Correcting payroll mistakes appeared first on Feldon Accountancy. Thu, 25 Jan 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/01/correcting-payroll-mistakes thumbnail https://www.feldonaccountancy.co.uk/2024/01/do-you-need-to-register-for-self-assessment There are a number of reasons why you might need to complete a self-assessment tax return. This includes if you are self-employed, a company director, have an annual income over £150,000 and / or have The post Do you need to register for self-assessment? appeared first on Feldon Accountancy. Thu, 25 Jan 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/01/do-you-need-to-register-for-self-assessment thumbnail https://www.feldonaccountancy.co.uk/2024/01/vat-option-to-tax-property There are special VAT rules that allow businesses to standard rate the supply of most non-residential and commercial land and buildings (known as the option to tax). This means that subsequent The post VAT – option to tax property appeared first on Feldon Accountancy. Thu, 25 Jan 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/01/vat-option-to-tax-property thumbnail https://www.feldonaccountancy.co.uk/2024/01/government-steps-to-secure-uk-supply-chains Industry leaders have welcomed the Government’s new Critical Imports and Supply Chain Strategy, safeguarding UK supplies of critical goods such as medicines, minerals and semiconductors. In a press The post Government steps to secure UK supply chains appeared first on Feldon Accountancy. Mon, 22 Jan 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/01/government-steps-to-secure-uk-supply-chains thumbnail https://www.feldonaccountancy.co.uk/2024/01/government-launches-new-whatsapp-channel The Government has launched a new account on WhatsApp Channels, allowing members of the public to subscribe to receive important updates to their phones. As a trusted, verified account the UK The post Government launches new WhatsApp channel appeared first on Feldon Accountancy. Mon, 22 Jan 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/01/government-launches-new-whatsapp-channel thumbnail https://www.feldonaccountancy.co.uk/2024/01/using-the-vat-flat-rate-scheme The VAT Flat Rate scheme allows businesses to pay VAT as a fixed percentage of their VAT inclusive turnover. The actual percentage used depends on the type of business. The scheme has been designed to The post Using the VAT Flat Rate Scheme appeared first on Feldon Accountancy. Thu, 18 Jan 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/01/using-the-vat-flat-rate-scheme thumbnail https://www.feldonaccountancy.co.uk/2024/01/full-expensing-of-capital-purchases A reminder to readers that the full expensing 100% first-year capital allowance for qualifying plant and machinery assets came into effect last April. To qualify for full expensing, expenditure must The post Full expensing of capital purchases appeared first on Feldon Accountancy. Thu, 18 Jan 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/01/full-expensing-of-capital-purchases thumbnail https://www.feldonaccountancy.co.uk/2024/01/year-end-payroll-reporting It is not that long until the current 2023-24 tax year comes to an end and there are a number of year end payroll chores that must be completed. This includes sending a final PAYE submission for the The post Year end payroll reporting appeared first on Feldon Accountancy. Thu, 18 Jan 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/01/year-end-payroll-reporting thumbnail https://www.feldonaccountancy.co.uk/2024/01/iht-gifts-7-year-limit Most gifts made during a person’s life are not subject to tax at the time of the gift. These lifetime transfers are known as 'potentially exempt transfers' or 'PETs'. These gifts or transfers achieve The post IHT gifts – 7 year limit appeared first on Feldon Accountancy. Thu, 18 Jan 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/01/iht-gifts-7-year-limit thumbnail https://www.feldonaccountancy.co.uk/2024/01/reminder-to-claim-the-marriage-allowance The marriage allowance applies to married couples and those in a civil partnership where a spouse or civil partner does not pay tax or does not pay tax above the basic rate threshold for Income Tax The post Reminder to claim the Marriage Allowance appeared first on Feldon Accountancy. Thu, 18 Jan 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/01/reminder-to-claim-the-marriage-allowance thumbnail https://www.feldonaccountancy.co.uk/2024/01/bed-and-breakfast-share-sales The term bed and breakfasting (sale and repurchase) of shares refers to transactions where shares are sold and bought back the next morning. This used to have Capital Gains Tax (CGT) benefits by The post Bed and breakfast share sales appeared first on Feldon Accountancy. Thu, 18 Jan 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/01/bed-and-breakfast-share-sales thumbnail https://www.feldonaccountancy.co.uk/2024/01/a-reminder-to-protect-your-business-capital The beginning of a new year is an opportune time to undertake basic business planning. One aspect that needs continuous management is to protect your business capital. The downturn in global trade The post A reminder to protect your business capital appeared first on Feldon Accountancy. Tue, 16 Jan 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/01/a-reminder-to-protect-your-business-capital thumbnail https://www.feldonaccountancy.co.uk/2024/01/business-asset-disposal-relief Business Asset Disposal Relief (BADR) is available on the sale of a business, disposal of shares in a trading company or an individual’s interest in a trading partnership. Where this relief is The post Business Asset Disposal Relief appeared first on Feldon Accountancy. Thu, 11 Jan 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/01/business-asset-disposal-relief thumbnail https://www.feldonaccountancy.co.uk/2024/01/vat-on-period-products-scrapped Before Brexit, the UK was unable to zero rate VAT on women’s sanitary products under EU rules and the items were subject to 5% VAT. Following the end of the transition period the UK was no longer The post VAT on period products scrapped appeared first on Feldon Accountancy. Thu, 11 Jan 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/01/vat-on-period-products-scrapped thumbnail https://www.feldonaccountancy.co.uk/2024/01/new-tax-credits-for-film-tv-and-game-makers A number of reforms to tax reliefs for the creative sectors came into effect from 1 January 2024. Under the reformed system, a children’s TV production, animated TV production or film with £1 million The post New tax credits for film, TV and game makers appeared first on Feldon Accountancy. Thu, 11 Jan 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/01/new-tax-credits-for-film-tv-and-game-makers thumbnail https://www.feldonaccountancy.co.uk/2024/01/tax-diary-february-march-2024 1 February 2024 - Due date for Corporation Tax payable for the year ended 30 April 2023. 19 February 2024 - PAYE and NIC deductions due for month ended 5 February 2024. (If you pay your tax The post Tax Diary February/March 2024 appeared first on Feldon Accountancy. Thu, 11 Jan 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/01/tax-diary-february-march-2024 thumbnail https://www.feldonaccountancy.co.uk/2024/01/less-than-one-month-to-tax-return-filing-deadline A new press release from HMRC has highlighted that 49,317 taxpayers took the time to file their tax returns online over the New Year holiday. It is estimated that over 6.5 million taxpayers have The post Less than one month to tax return filing deadline appeared first on Feldon Accountancy. Thu, 11 Jan 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/01/less-than-one-month-to-tax-return-filing-deadline thumbnail https://www.feldonaccountancy.co.uk/2024/01/beware-higher-rate-tax-on-dividends Readers are reminded that if the dividends they draw from their company, when added to their other income, exceeds the basic rate Income Tax Band, then much higher rates of dividend tax will The post Beware higher rate tax on dividends appeared first on Feldon Accountancy. Thu, 11 Jan 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/01/beware-higher-rate-tax-on-dividends thumbnail https://www.feldonaccountancy.co.uk/2024/01/national-insurance-and-tax-after-state-pension-age If you have reached the State Pension age and continue to work, in most cases, you no longer need to pay National Insurance Contributions (NICs). At State Pension age, the requirement to pay Class 1 The post National Insurance and tax after State Pension Age appeared first on Feldon Accountancy. Thu, 11 Jan 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/01/national-insurance-and-tax-after-state-pension-age thumbnail https://www.feldonaccountancy.co.uk/2024/01/using-your-vehicle-for-work-related-journeys If you use your car or other vehicle to undertake business journeys on behalf of your employer, and your employer does not: Fully reimburse you for the business use, or Reimburses you but at a The post Using your vehicle for work related journeys appeared first on Feldon Accountancy. Tue, 09 Jan 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/01/using-your-vehicle-for-work-related-journeys thumbnail https://www.feldonaccountancy.co.uk/2024/01/setting-up-a-payment-plan-with-hmrc The 31st of January is a key date for those of us who are registered for self-assessment. There are three deadlines: The closing date to file your 2022-23 tax return without incurring an initial The post Setting up a payment plan with HMRC appeared first on Feldon Accountancy. Tue, 09 Jan 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/01/setting-up-a-payment-plan-with-hmrc thumbnail https://www.feldonaccountancy.co.uk/2024/01/spring-budget-2024 The Chancellor of the Exchequer, Jeremy Hunt has confirmed that the next UK Budget will take place on Wednesday, 6 March 2024. This will be the Chancellor’s second Budget and will include the The post Spring Budget 2024 appeared first on Feldon Accountancy. Thu, 04 Jan 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/01/spring-budget-2024 thumbnail https://www.feldonaccountancy.co.uk/2024/01/scottish-budget-2024-25 Scotland’s Deputy First Minister and Finance Secretary, Shona Robison delivered her first Budget statement to the Scottish parliament on 19 December 2023. The Finance Secretary said that the The post Scottish Budget 2024-25 appeared first on Feldon Accountancy. Thu, 04 Jan 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/01/scottish-budget-2024-25 thumbnail https://www.feldonaccountancy.co.uk/2024/01/utilise-your-2023-24-iht-reliefs We wanted to remind you of the Inheritance Tax (IHT) implications of making cash gifts during the current 2023-24 tax year that will end on 5 April 2024. You can give away up to £3,000 worth of gifts The post Utilise your 2023-24 IHT reliefs appeared first on Feldon Accountancy. Thu, 04 Jan 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/01/utilise-your-2023-24-iht-reliefs thumbnail https://www.feldonaccountancy.co.uk/2024/01/flat-rate-scheme-annual-review If using the VAT Flat Rate scheme, businesses pay VAT as a fixed percentage of their VAT inclusive turnover. The actual percentage used depends on the type of business. The scheme has been designed to The post Flat Rate Scheme annual review appeared first on Feldon Accountancy. Thu, 04 Jan 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/01/flat-rate-scheme-annual-review thumbnail https://www.feldonaccountancy.co.uk/2024/01/do-you-need-to-register-for-vat-in-2024 The taxable turnover threshold that determines whether businesses should be registered for VAT is currently £85,000. The taxable turnover threshold that determines whether businesses can apply for The post Do you need to register for VAT in 2024? appeared first on Feldon Accountancy. Thu, 04 Jan 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/01/do-you-need-to-register-for-vat-in-2024 thumbnail https://www.feldonaccountancy.co.uk/2024/01/what-happens-if-your-income-exceeds-100k-2023-24 If you earn over £100,000 in any tax year your personal allowance is gradually reduced by £1 for every £2 of adjusted net income over £100,000 irrespective of age. This means that any taxable receipt The post What happens if your income exceeds £100K 2023-24? appeared first on Feldon Accountancy. Thu, 04 Jan 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/01/what-happens-if-your-income-exceeds-100k-2023-24 thumbnail https://www.feldonaccountancy.co.uk/2024/01/welsh-budget-2024-25 The Welsh draft Budget for 2024-25 was published on 19 December 2023. The Budget sets out the Welsh government’s revenue and capital spending proposals, including detailed portfolio spending The post Welsh Budget 2024-25 appeared first on Feldon Accountancy. Thu, 04 Jan 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/01/welsh-budget-2024-25 thumbnail https://www.feldonaccountancy.co.uk/2024/01/claiming-relief-for-work-related-expenses If your employer has reimbursed you in full for any work related expenses you will obviously be unable to make a claim for tax relief for those same expenses. But if you have only received part of The post Claiming relief for work related expenses appeared first on Feldon Accountancy. Tue, 02 Jan 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/01/claiming-relief-for-work-related-expenses thumbnail https://www.feldonaccountancy.co.uk/2024/01/be-wary-of-rogue-business-rates-agents The government Valuation Office Agency have issued the following warning to business owners who may have received unprompted approaches by an agent offering to negotiate a reduction in their business The post Be wary of rogue business rates agents appeared first on Feldon Accountancy. Tue, 02 Jan 2024 04:00:00 GMT https://www.feldonaccountancy.co.uk/2024/01/be-wary-of-rogue-business-rates-agents thumbnail https://www.feldonaccountancy.co.uk/2023/12/hmrc-awards-5-5m-in-grant-funding HMRC’s has awarded twelve voluntary and community sector organisations a share of £5.5 million in funding to help customers with their tax affairs. The £5.5 million funding pot applies over a The post HMRC awards £5.5m in grant funding appeared first on Feldon Accountancy. Wed, 20 Dec 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/12/hmrc-awards-5-5m-in-grant-funding thumbnail https://www.feldonaccountancy.co.uk/2023/12/employing-staff-for-first-time There are a multitude of rules and regulations that you must be aware of when you start employing staff for the first time. HMRC’s guidance sets out some important issues to be aware of when becoming The post Employing staff for first time appeared first on Feldon Accountancy. Wed, 20 Dec 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/12/employing-staff-for-first-time thumbnail https://www.feldonaccountancy.co.uk/2023/12/tax-and-duties-on-goods-sent-from-abroad There are special rules to ensure that goods sent from abroad are taxed appropriately and to ensure that UK businesses supplying goods in the UK - for example by having to compete with VAT free The post Tax and duties on goods sent from abroad appeared first on Feldon Accountancy. Wed, 20 Dec 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/12/tax-and-duties-on-goods-sent-from-abroad thumbnail https://www.feldonaccountancy.co.uk/2023/12/tax-consequences-of-loans-to-employees An employee can obtain a benefit when provided with an employment-related cheap or interest-free loan. The benefit is the difference between the interest the employee pays, if any, and the commercial The post Tax consequences of loans to employees appeared first on Feldon Accountancy. Wed, 20 Dec 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/12/tax-consequences-of-loans-to-employees thumbnail https://www.feldonaccountancy.co.uk/2023/12/helpline-delays-at-hmrc HMRC’s self-assessment (SA) helpline will focus on priority queries from 11 December until 31 January. Whilst the helpline is focusing on priority calls in the run-up to the filing deadline, other The post Helpline delays at HMRC appeared first on Feldon Accountancy. Wed, 20 Dec 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/12/helpline-delays-at-hmrc thumbnail https://www.feldonaccountancy.co.uk/2023/12/obtaining-the-hmrc-mobile-app HMRC’s free tax app is available to download from the App Store for iOS and from the Google Play Store for Android. The latest version of the app includes some updated functionality to update your The post Obtaining the HMRC mobile app appeared first on Feldon Accountancy. Wed, 20 Dec 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/12/obtaining-the-hmrc-mobile-app thumbnail https://www.feldonaccountancy.co.uk/2023/12/investment-v-costs There are two ways to consider the effects or benefits of business and personal expenditure. The payment of rates or utility costs are an essential part of our daily expenditure, but it would be The post Investment v costs appeared first on Feldon Accountancy. Tue, 19 Dec 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/12/investment-v-costs thumbnail https://www.feldonaccountancy.co.uk/2023/12/seasons-greetings-and-a-prosperous-2024 As Christmas arrives the week before the calendar year-end, many of us will enjoy a week’s shut down and have time to relax and enjoy the break with our family and friends. The break also gives us The post Season’s greetings and a prosperous 2024 appeared first on Feldon Accountancy. Tue, 19 Dec 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/12/seasons-greetings-and-a-prosperous-2024 thumbnail https://www.feldonaccountancy.co.uk/2023/12/employees-on-full-time-and-part-time-contracts When a new employee is added to the payroll it is the employer's responsibility to ensure they meet the employee's rights and deduct the correct amount of tax from their salary. HMRC’s guidance lists The post Employees on full-time and part-time contracts appeared first on Feldon Accountancy. Thu, 14 Dec 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/12/employees-on-full-time-and-part-time-contracts thumbnail https://www.feldonaccountancy.co.uk/2023/12/cgt-exempt-allowance-halving-from-april-2024 The annual exempt amount applicable to Capital Gains Tax (CGT) is to be halved from April 2024. This means that the exempt amount will be reduced from £6,000 currently, to £3,000 from April 2024. The The post CGT exempt allowance halving from April 2024 appeared first on Feldon Accountancy. Thu, 14 Dec 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/12/cgt-exempt-allowance-halving-from-april-2024 thumbnail https://www.feldonaccountancy.co.uk/2023/12/tax-exempt-accommodation-costs There are special rules for the provision of living accommodation for employees. In most cases, employees will pay tax on any living accommodation provided by an employer unless they qualify for an The post Tax exempt accommodation costs appeared first on Feldon Accountancy. Thu, 14 Dec 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/12/tax-exempt-accommodation-costs thumbnail https://www.feldonaccountancy.co.uk/2023/12/tax-diary-january-february-2024 1 January 2024 - Due date for Corporation Tax due for the year ended 31 March 2023. 19 January 2024 - PAYE and NIC deductions due for month ended 5 January 2024. (If you pay your tax electronically The post Tax Diary January/February 2024 appeared first on Feldon Accountancy. Thu, 14 Dec 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/12/tax-diary-january-february-2024 thumbnail https://www.feldonaccountancy.co.uk/2023/12/rent-a-room-relief The rent-a-room scheme is a set of special rules designed to help homeowners who rent-a-room in their home. If you are using this scheme, you should ensure that rents received from lodgers during the The post Rent-a-room relief appeared first on Feldon Accountancy. Thu, 14 Dec 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/12/rent-a-room-relief thumbnail https://www.feldonaccountancy.co.uk/2023/12/help-to-pay-your-tax-this-month If you are having trouble paying your tax on time you may be eligible to receive support from HMRC by applying for an instalment payment plan. An online payment plan for Self-assessment tax bills can The post Help to pay your tax this month appeared first on Feldon Accountancy. Thu, 14 Dec 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/12/help-to-pay-your-tax-this-month thumbnail https://www.feldonaccountancy.co.uk/2023/12/changes-to-nic-from-january-2024 A reminder that the main rate of Class 1 Employee National Insurance contributions (NIC) will be reduced from 6 January 2024. This change will see Class 1 NICs reduced by 2% from 12% to 10% in a The post Changes to NIC from January 2024 appeared first on Feldon Accountancy. Thu, 14 Dec 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/12/changes-to-nic-from-january-2024 thumbnail https://www.feldonaccountancy.co.uk/2023/12/planning-changes-to-boost-solar-rollout Homes and businesses will be able to install rooftop solar panels more easily, under new rules that were recently announced. Changes to permitted development rights rules will mean more homeowners The post Planning changes to boost solar rollout appeared first on Feldon Accountancy. Mon, 11 Dec 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/12/planning-changes-to-boost-solar-rollout thumbnail https://www.feldonaccountancy.co.uk/2023/12/what-data-do-organisations-hold-about-you If you are concerned that an organisation is holding personal information you have a legal right to ask for a copy of the information that they hold about you. If it is a public organisation, write The post What data do organisations hold about you? appeared first on Feldon Accountancy. Mon, 11 Dec 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/12/what-data-do-organisations-hold-about-you thumbnail https://www.feldonaccountancy.co.uk/2023/12/help-to-save-scheme The Help to Save scheme is intended to help those on low incomes to boost their savings. Eligible users of the scheme can save between £1 and £50 every calendar month and receive a 50% government The post Help to Save scheme appeared first on Feldon Accountancy. Thu, 07 Dec 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/12/help-to-save-scheme thumbnail https://www.feldonaccountancy.co.uk/2023/12/working-from-home-tax-relief Employees who working from home may be able to claim tax relief for some of the bills they pay that are related to your work. Employers may reimburse employees for the additional household expenses The post Working from home tax relief appeared first on Feldon Accountancy. Thu, 07 Dec 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/12/working-from-home-tax-relief thumbnail https://www.feldonaccountancy.co.uk/2023/12/more-time-to-file-company-accounts The normal filing deadline for filing the accounts of a private limited company is nine months after the company’s financial year end. Known as the accounting reference date. For example, many The post More time to file company accounts appeared first on Feldon Accountancy. Thu, 07 Dec 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/12/more-time-to-file-company-accounts thumbnail https://www.feldonaccountancy.co.uk/2023/12/pension-credit-deadline Pension Credits can provide extra income to those over State Pension age and on a low income. The credits were first introduced in 2003 to keep retired people out of poverty. Pension Credit can top The post Pension Credit deadline appeared first on Feldon Accountancy. Thu, 07 Dec 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/12/pension-credit-deadline thumbnail https://www.feldonaccountancy.co.uk/2023/12/pensioner-cost-of-living-payment The Cost of Living support package has been designed to help over 8 million households in receipt of mean tested benefits. The details for Cost of Living Payments due in the 2023-24 tax year were The post Pensioner Cost of Living Payment appeared first on Feldon Accountancy. Thu, 07 Dec 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/12/pensioner-cost-of-living-payment thumbnail https://www.feldonaccountancy.co.uk/2023/12/autumn-finance-bill-2023-published The government published the Autumn Finance Bill 2023 on 29 November 2023. The Bill is officially known as Finance Bill 2023-24. The Bill contains the legislation for many of the tax measures The post Autumn Finance Bill 2023 published appeared first on Feldon Accountancy. Thu, 07 Dec 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/12/autumn-finance-bill-2023-published thumbnail https://www.feldonaccountancy.co.uk/2023/12/focus-on-bottom-line Most dictionaries define “bottom line” as “the most important thing to consider”. In financial circles it’s taken to mean a focus on profitability (the last line on a P&L The post Focus on bottom line appeared first on Feldon Accountancy. Tue, 05 Dec 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/12/focus-on-bottom-line thumbnail https://www.feldonaccountancy.co.uk/2023/12/company-accounts-filing-dont-be-late It’s the directors’ responsibility to file their company’s accounts, and make sure they’re filed on time. It’s important to understand your role and how late filing could affect your company. Missing The post Company accounts filing – don’t be late… appeared first on Feldon Accountancy. Tue, 05 Dec 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/12/company-accounts-filing-dont-be-late thumbnail https://www.feldonaccountancy.co.uk/2023/11/nic-changes-for-the-self-employed In the recent Autumn Statement, the Chancellor announced two important changes to National Insurance contributions (NIC) for the self-employed. The first change concerns the removal of Class 2 NICs The post NIC changes for the self-employed appeared first on Feldon Accountancy. Thu, 30 Nov 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/11/nic-changes-for-the-self-employed thumbnail https://www.feldonaccountancy.co.uk/2023/11/summary-of-companies-house-changes The Economic Crime and Corporate Transparency Act received royal assent on 26 October 2023. The new Act provides Companies House with more power to reduce the abuse of corporate structures whilst at The post Summary of Companies House changes appeared first on Feldon Accountancy. Thu, 30 Nov 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/11/summary-of-companies-house-changes thumbnail https://www.feldonaccountancy.co.uk/2023/11/enterprise-investment-scheme-investee-businesses The Enterprise Investment Scheme (EIS) is designed to help smaller higher-risk trading companies to raise finance by offering a range of tax reliefs to investors who purchase new shares in those The post Enterprise Investment Scheme investee businesses appeared first on Feldon Accountancy. Thu, 30 Nov 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/11/enterprise-investment-scheme-investee-businesses thumbnail https://www.feldonaccountancy.co.uk/2023/11/what-now-following-the-autumn-statement In some respects, the Chancellor’s predicament is deserving of a sympathetic ear; its as if he has a long journey ahead but has one foot firmly nailed to the floor. Stagnant growth in the UK and The post What now, following the Autumn Statement appeared first on Feldon Accountancy. Thu, 30 Nov 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/11/what-now-following-the-autumn-statement thumbnail https://www.feldonaccountancy.co.uk/2023/11/tax-relief-for-rd-intensive-smes In the Autumn Statement it was announced that the existing R&D Expenditure Credit and Small and Medium Enterprise Scheme will be merged from April 2024. It was also confirmed that there will be The post Tax relief for R&D intensive SMEs appeared first on Feldon Accountancy. Thu, 30 Nov 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/11/tax-relief-for-rd-intensive-smes thumbnail https://www.feldonaccountancy.co.uk/2023/11/corporation-tax-marginal-rate The Corporation Tax main rate for companies with profits in excess of £250,000 increased to 25% on 1 April 2023. A Small Profits Rate (SPR) of 19% was also introduced from the same date for companies The post Corporation Tax marginal rate appeared first on Feldon Accountancy. Thu, 30 Nov 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/11/corporation-tax-marginal-rate thumbnail https://www.feldonaccountancy.co.uk/2023/11/nic-changes-for-employees-from-6-january-2024 In the recent Autumn Statement, the Chancellor announced a significant change to National Insurance contributions (NIC) for employees. There will be a cut in the main rate of Employee National The post NIC changes for employees from 6 January 2024 appeared first on Feldon Accountancy. Thu, 30 Nov 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/11/nic-changes-for-employees-from-6-january-2024 thumbnail https://www.feldonaccountancy.co.uk/2023/11/directors-duties-and-responsibilities To be a director, you must be over 16 and not currently disqualified. As a director your responsibilities include: filing your company’s annual accounts and reports or appoint an accountant to do The post Directors’ duties and responsibilities appeared first on Feldon Accountancy. Tue, 28 Nov 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/11/directors-duties-and-responsibilities thumbnail https://www.feldonaccountancy.co.uk/2023/11/gifts-of-shares-to-minor-under-18s-children The settlement legislation seeks to ensure that, where a settlor has retained an interest in property in a settlement, the income arising is treated as the settlor’s income for all tax purposes. A The post Gifts of shares to minor (under 18s) children appeared first on Feldon Accountancy. Thu, 23 Nov 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/11/gifts-of-shares-to-minor-under-18s-children thumbnail https://www.feldonaccountancy.co.uk/2023/11/cgt-lettings-relief In general, there is no Capital Gains Tax (CGT) on a property which has been used as the main family residence. This relief from CGT is commonly known as Private Residence Relief or PRR. However, The post CGT – Lettings relief appeared first on Feldon Accountancy. Thu, 23 Nov 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/11/cgt-lettings-relief thumbnail https://www.feldonaccountancy.co.uk/2023/11/what-counts-as-holiday-accommodation HMRC’s VAT Notice 709/3 entitled 'Hotels and holiday accommodation' explains how supplies by hotels and similar establishments such as motels, guesthouses and B&Bs should be treated for VAT The post What counts as holiday accommodation? appeared first on Feldon Accountancy. Thu, 23 Nov 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/11/what-counts-as-holiday-accommodation thumbnail https://www.feldonaccountancy.co.uk/2023/11/income-tax-5000-savings-zero-rate-band If you have taxable income of less than £17,570 in 2023-24 tax year you will have no tax to pay on interest received. This figure is calculated by adding the £5,000 starting rate limit for savings The post Income Tax – £5,000 savings zero rate band appeared first on Feldon Accountancy. Thu, 23 Nov 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/11/income-tax-5000-savings-zero-rate-band thumbnail https://www.feldonaccountancy.co.uk/2023/11/the-badges-of-trade The 'badges of trade' tests, whilst not conclusive, are used by HMRC to help determine whether an activity is a proper economic trade / business activity or merely a money-making by-product of a The post The badges of trade appeared first on Feldon Accountancy. Thu, 23 Nov 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/11/the-badges-of-trade thumbnail https://www.feldonaccountancy.co.uk/2023/11/iht-giving-away-your-home-before-you-die The majority of gifts made during a person's life, including gifting a home, are not subject to tax at the time of the gift. These lifetime transfers are known as 'potentially exempt transfers' or The post IHT – Giving away your home before you die appeared first on Feldon Accountancy. Thu, 23 Nov 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/11/iht-giving-away-your-home-before-you-die thumbnail https://www.feldonaccountancy.co.uk/2023/11/autumn-statement-summary The Chancellor of the Exchequer, Jeremy Hunt, has delivered his Autumn Statement to the House of Commons. The government continues to be faced with challenging economic conditions as the cost of The post Autumn Statement Summary appeared first on Feldon Accountancy. Wed, 22 Nov 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/11/autumn-statement-summary thumbnail https://www.feldonaccountancy.co.uk/2023/11/4-5bn-for-british-manufacturing-from-2025 The government has announced £4.5 billion in funding for British manufacturing to increase investment in eight sectors across the UK. The funding will be available from 2025 for five years, providing The post £4.5bn for British manufacturing from 2025 appeared first on Feldon Accountancy. Tue, 21 Nov 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/11/4-5bn-for-british-manufacturing-from-2025 thumbnail https://www.feldonaccountancy.co.uk/2023/11/fuel-price-watchdog-sharpens-its-teeth UK motorists will be protected at the pumps under tough new powers that will shine a light on any attempt from retailers to unfairly hike up fuel prices. Under new amendments tabled on 15 November The post Fuel price watchdog sharpens its teeth appeared first on Feldon Accountancy. Tue, 21 Nov 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/11/fuel-price-watchdog-sharpens-its-teeth thumbnail https://www.feldonaccountancy.co.uk/2023/11/full-expensing The full expensing 100% first-year capital allowance for qualifying plant and machinery assets came into effect on 1 April 2023. To qualify for full expensing, expenditure must be incurred on the The post Full expensing appeared first on Feldon Accountancy. Thu, 16 Nov 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/11/full-expensing thumbnail https://www.feldonaccountancy.co.uk/2023/11/tax-credits-top-up The Cost of Living support package has been designed to help over 8 million households in receipt of mean tested benefits. The details for Cost of Living Payments due in the 2023-24 tax year were The post Tax credits top-up appeared first on Feldon Accountancy. Thu, 16 Nov 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/11/tax-credits-top-up thumbnail https://www.feldonaccountancy.co.uk/2023/11/tax-relief-on-pension-contributions Taxpayers can usually claim tax relief for their private pension contributions. There is an annual allowance for tax relief on pensions of £60,000 for the current 2023-24 tax year. The annual The post Tax relief on pension contributions appeared first on Feldon Accountancy. Thu, 16 Nov 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/11/tax-relief-on-pension-contributions thumbnail https://www.feldonaccountancy.co.uk/2023/11/marriage-allowance-entitlement The marriage allowance applies to married couples and those in a civil partnership where a spouse or civil partner does not pay tax or pay tax above the basic rate threshold for Income Tax (i.e., one The post Marriage allowance entitlement appeared first on Feldon Accountancy. Thu, 16 Nov 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/11/marriage-allowance-entitlement thumbnail https://www.feldonaccountancy.co.uk/2023/11/time-to-pay-tax If you are having trouble paying your tax on time you may be eligible to receive support from HMRC. An online payment plan for Self-Assessment tax bills can be used to set up instalment arrangements The post Time to Pay tax appeared first on Feldon Accountancy. Thu, 16 Nov 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/11/time-to-pay-tax thumbnail https://www.feldonaccountancy.co.uk/2023/11/hold-over-gifts-relief Gifts Hold-Over Relief is a tax relief that effectively defers Capital Gains Tax (CGT) that may arise on a relevant gift. The relief can be claimed when assets are given away (including certain The post Hold-over gifts relief appeared first on Feldon Accountancy. Thu, 16 Nov 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/11/hold-over-gifts-relief thumbnail https://www.feldonaccountancy.co.uk/2023/11/tax-diary-december-2023-january-2024 1 December 2023 - Due date for Corporation Tax payable for the year ended 28 February 2023. 19 December 2023 - PAYE and NIC deductions due for month ended 5 December 2023. (If you pay your tax The post Tax Diary December 2023/ January 2024 appeared first on Feldon Accountancy. Tue, 14 Nov 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/11/tax-diary-december-2023-january-2024 thumbnail https://www.feldonaccountancy.co.uk/2023/11/closing-the-door-on-tax-planning When the end of a tax year passes, the 5 April 2024 for the current year, or the end of an accounting year if a company, any opportunity to take advantage of tax planning strategies closes. For The post Closing the door on tax planning appeared first on Feldon Accountancy. Tue, 14 Nov 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/11/closing-the-door-on-tax-planning thumbnail https://www.feldonaccountancy.co.uk/2023/11/why-breakeven-analysis-can-be-illuminating If you focus your energy on sales, there is a chance that your efforts will produce losses. Which is why we always encourage our business clients to keep their accounting records using software that The post Why breakeven analysis can be illuminating appeared first on Feldon Accountancy. Tue, 14 Nov 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/11/why-breakeven-analysis-can-be-illuminating thumbnail https://www.feldonaccountancy.co.uk/2023/11/help-to-save-bonus-payments The Help to Save scheme is intended to help those on low incomes to boost their savings. Eligible users of the scheme can save between £1 and £50 every calendar month and receive a 50% government The post Help to Save bonus payments appeared first on Feldon Accountancy. Thu, 09 Nov 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/11/help-to-save-bonus-payments thumbnail https://www.feldonaccountancy.co.uk/2023/11/what-is-a-business-repair HMRC’s internal manuals provide some useful information on the definition of a business repair. This is important because it is required to identify the asset on which work has been carried out. This The post What is a business repair? appeared first on Feldon Accountancy. Thu, 09 Nov 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/11/what-is-a-business-repair thumbnail https://www.feldonaccountancy.co.uk/2023/11/company-tax-return-obligations After the end of its financial year, a private limited company must prepare full annual accounts and a company tax return. In most cases a company’s tax return must be submitted within 12 months from The post Company tax return obligations appeared first on Feldon Accountancy. Thu, 09 Nov 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/11/company-tax-return-obligations thumbnail https://www.feldonaccountancy.co.uk/2023/11/childcare-support-from-hmrc Parents may be eligible to receive childcare support from HMRC using the Tax-Free Childcare (TFC) scheme. The TFC scheme can help parents of children aged up to 11 years old (17 for those with certain The post Childcare support from HMRC appeared first on Feldon Accountancy. Thu, 09 Nov 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/11/childcare-support-from-hmrc thumbnail https://www.feldonaccountancy.co.uk/2023/11/reminder-of-not-so-trivial-tax-free-benefits There is a benefit-in-kind (BiK) trivial exemption that applies to small non-cash benefits like a bottle of wine, or a bouquet of flowers given occasionally to employees or any other BiK classed as The post Reminder of not-so-trivial tax-free benefits appeared first on Feldon Accountancy. Thu, 09 Nov 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/11/reminder-of-not-so-trivial-tax-free-benefits thumbnail https://www.feldonaccountancy.co.uk/2023/11/due-a-student-loan-refund Student Loans are part of the government's financial support package for students in higher education in the UK. They are available to help students meet their expenses while they are studying, and it The post Due a student loan refund? appeared first on Feldon Accountancy. Thu, 09 Nov 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/11/due-a-student-loan-refund thumbnail https://www.feldonaccountancy.co.uk/2023/11/cost-of-living-payments You may have been entitled to a Cost of Living Payments of £301 (paid April/May 2023) and should be about to receive £300 (payable early November 2023) and a further £299 due spring 2024. Payments are The post Cost of living payments appeared first on Feldon Accountancy. Mon, 06 Nov 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/11/cost-of-living-payments thumbnail https://www.feldonaccountancy.co.uk/2023/11/paying-tax-by-direct-debit One of the many ways that payments can be made to HMRC is by using a direct debit. The direct debit can be set up online. You can pay your tax bill using direct debit if you have an online account The post Paying tax by direct debit appeared first on Feldon Accountancy. Thu, 02 Nov 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/11/paying-tax-by-direct-debit thumbnail https://www.feldonaccountancy.co.uk/2023/11/trusts-and-income-tax A trust is an obligation that binds a trustee, an individual or a company to deal with the trust assets, such as land, money and shares, and which form part of the trust. The person who places assets The post Trusts and Income Tax appeared first on Feldon Accountancy. Thu, 02 Nov 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/11/trusts-and-income-tax thumbnail https://www.feldonaccountancy.co.uk/2023/11/taxable-gains-on-gifts Gift Hold-Over Relief is a tax relief that effectively defers Capital Gains Tax (CGT). The relief can be claimed when assets are given away (including certain shares) or sold for less than they are The post Taxable gains on gifts appeared first on Feldon Accountancy. Thu, 02 Nov 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/11/taxable-gains-on-gifts thumbnail https://www.feldonaccountancy.co.uk/2023/11/do-you-need-to-pay-tax-when-you-sell-your-home In general, there is no Capital Gains Tax (CGT) when you sell your home. This applies to a property which has been used as the main family residence. An investment property which has never been used The post Do you need to pay tax when you sell your home? appeared first on Feldon Accountancy. Thu, 02 Nov 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/11/do-you-need-to-pay-tax-when-you-sell-your-home thumbnail https://www.feldonaccountancy.co.uk/2023/11/current-state-pension-age The second review of the State Pension age has been published by the Department for Work and Pensions. The State Pension age is currently 66. The review has stated that a further increase in the State The post Current State Pension age appeared first on Feldon Accountancy. Thu, 02 Nov 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/11/current-state-pension-age thumbnail https://www.feldonaccountancy.co.uk/2023/11/filling-gaps-in-national-insurance-record National Insurance credits can help qualifying applicants to fill gaps in their National Insurance record. This can assist taxpayers to build up the number of qualifying years of National Insurance The post Filling gaps in National Insurance record appeared first on Feldon Accountancy. Thu, 02 Nov 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/11/filling-gaps-in-national-insurance-record thumbnail https://www.feldonaccountancy.co.uk/2023/11/cash-flow-v-supplier-credit-limits In a recent article we explained how granting lengthy credit limits to customers was as good as letting them keep your money in their bank account. In this post we describe the opposite situation, The post Cash flow v supplier credit limits appeared first on Feldon Accountancy. Wed, 01 Nov 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/11/cash-flow-v-supplier-credit-limits thumbnail https://www.feldonaccountancy.co.uk/2023/11/back-of-an-envelope If you run a business and manage your planning by scribbling notes on the back of an envelope, you might be advised to read the contents of this article. When the economy is vibrant, effectively when The post Back of an envelope appeared first on Feldon Accountancy. Wed, 01 Nov 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/11/back-of-an-envelope thumbnail https://www.feldonaccountancy.co.uk/2023/10/replacement-of-domestic-items-relief The replacement of domestic items relief enables landlords to claim tax relief when they replace movable furniture, furnishings, household appliances and kitchenware in a rental property. The The post Replacement of domestic items relief appeared first on Feldon Accountancy. Wed, 25 Oct 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/10/replacement-of-domestic-items-relief thumbnail https://www.feldonaccountancy.co.uk/2023/10/tax-free-annual-party The cost of a staff party or other annual entertainment is generally allowed as a deduction for tax purposes. If you meet the various criteria outlined below, then there is no requirement to report The post Tax free annual party appeared first on Feldon Accountancy. Wed, 25 Oct 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/10/tax-free-annual-party thumbnail https://www.feldonaccountancy.co.uk/2023/10/self-assessment-scam-warning Fraudsters are continuing to target taxpayers with scam emails in advance of the deadline for the submission of Self-Assessment returns for the 2022-23 tax year. In the 12 months to September 2023, The post Self-Assessment scam warning appeared first on Feldon Accountancy. Wed, 25 Oct 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/10/self-assessment-scam-warning thumbnail https://www.feldonaccountancy.co.uk/2023/10/loss-of-personal-tax-allowance If you earn over £100,000 in any tax year your personal allowance is gradually reduced by £1 for every £2 of adjusted net income over £100,000 irrespective of age. This means that any taxable receipt The post Loss of personal tax allowance appeared first on Feldon Accountancy. Wed, 25 Oct 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/10/loss-of-personal-tax-allowance thumbnail https://www.feldonaccountancy.co.uk/2023/10/countdown-to-self-assessment-filing-deadline There are now less than 100 days to file your 2022-23 Self-Assessment tax return online. The deadline is 31 January 2024. The deadline for paper returns ended on 31 October 2023. You should also be The post Countdown to Self-Assessment filing deadline appeared first on Feldon Accountancy. Wed, 25 Oct 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/10/countdown-to-self-assessment-filing-deadline thumbnail https://www.feldonaccountancy.co.uk/2023/10/scottish-council-tax-frozen Humza Yousaf, Scotland's First Minister, has announced that council tax rates will be frozen in the next financial year to support people struggling with the effects of high inflation. First The post Scottish council tax frozen appeared first on Feldon Accountancy. Wed, 25 Oct 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/10/scottish-council-tax-frozen thumbnail https://www.feldonaccountancy.co.uk/2023/10/new-company-reporting-regulation-withdrawn The Government has withdrawn draft regulations after consultation with companies raised concerns about imposing additional reporting requirements. Instead, the Government will pursue options to The post New company reporting regulation withdrawn appeared first on Feldon Accountancy. Mon, 23 Oct 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/10/new-company-reporting-regulation-withdrawn thumbnail https://www.feldonaccountancy.co.uk/2023/10/cash-flow-v-customer-credit-limits If your business grants a customer time to pay - say 30 days - after the services or goods supplied have been delivered, effectively, your money stays in their bank account for 30 days. Further, if The post Cash flow v customer credit limits appeared first on Feldon Accountancy. Mon, 23 Oct 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/10/cash-flow-v-customer-credit-limits thumbnail https://www.feldonaccountancy.co.uk/2023/10/accounting-periods-for-corporation-tax Companies often have two different company accounting periods. This is because there are different rules for Companies House filings and for returns sent to HMRC. The accounting periods can be the The post Accounting periods for Corporation Tax appeared first on Feldon Accountancy. Thu, 19 Oct 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/10/accounting-periods-for-corporation-tax thumbnail https://www.feldonaccountancy.co.uk/2023/10/electric-charging-of-company-vehicles-at-home-base HMRC has published revised guidance concerning the charging of company cars and vans at residential properties. HMRC had previously maintained that the reimbursement of costs in relation to charging a The post Electric charging of company vehicles at home base appeared first on Feldon Accountancy. Thu, 19 Oct 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/10/electric-charging-of-company-vehicles-at-home-base thumbnail https://www.feldonaccountancy.co.uk/2023/10/increase-in-national-living-wage The Chancellor of the Exchequer, Jeremy Hunt, confirmed that the government has committed to the proposals of the Low Pay Commission for increasing minimum wage rates from 1 April 2024. The actual The post Increase in National Living Wage appeared first on Feldon Accountancy. Thu, 19 Oct 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/10/increase-in-national-living-wage thumbnail https://www.feldonaccountancy.co.uk/2023/10/reporting-early-payment-of-wages-before-christmas There is a permanent easement in place for employers to report PAYE information in real time over the Christmas period. This can be for a number of reasons, for example, during the Christmas period The post Reporting early payment of wages before Christmas appeared first on Feldon Accountancy. Thu, 19 Oct 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/10/reporting-early-payment-of-wages-before-christmas thumbnail https://www.feldonaccountancy.co.uk/2023/10/how-dividends-are-taxed Dividends received are taxed as income but the rates of tax applied are different to the formal Income Tax rates. Also, individuals can receive dividends up to the annual dividend allowance tax free. The post How dividends are taxed appeared first on Feldon Accountancy. Thu, 19 Oct 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/10/how-dividends-are-taxed thumbnail https://www.feldonaccountancy.co.uk/2023/10/who-needs-an-eori-number The Economic Operators' Registration and Identification System (EORI) was setup as a European Union (EU) wide initiative that helps businesses communicate with customs officials when they are The post Who needs an EORI number? appeared first on Feldon Accountancy. Thu, 19 Oct 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/10/who-needs-an-eori-number thumbnail https://www.feldonaccountancy.co.uk/2023/10/repeat-business Once you have secured the attention of a customer that has purchased their initial goods or services from you, you have completed the hard part - converted a prospect into a buying customer - so don’t The post Repeat business appeared first on Feldon Accountancy. Tue, 17 Oct 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/10/repeat-business thumbnail https://www.feldonaccountancy.co.uk/2023/10/recurring-sales Most business owners will appreciate the difference between one-off sales, and services that are generally described as recurring. For example, you may sell a laptop (a one-off sale) and then bolt on The post Recurring sales appeared first on Feldon Accountancy. Tue, 17 Oct 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/10/recurring-sales thumbnail https://www.feldonaccountancy.co.uk/2023/10/tax-diary-november-december-2023 1 November 2023 - Due date for Corporation Tax due for the year ended 31 January 2023. 19 November 2023 - PAYE and NIC deductions due for month ended 5 November 2023. (If you pay your tax The post Tax Diary November/December 2023 appeared first on Feldon Accountancy. Fri, 13 Oct 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/10/tax-diary-november-december-2023 thumbnail https://www.feldonaccountancy.co.uk/2023/10/re-starting-a-dormant-company HMRC must be informed when a non-trading or dormant company starts trading again and thus becomes active for Corporation Tax purposes. Companies can use HMRC Online Services to supply the relevant The post Re-starting a dormant company appeared first on Feldon Accountancy. Thu, 12 Oct 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/10/re-starting-a-dormant-company thumbnail https://www.feldonaccountancy.co.uk/2023/10/have-you-downloaded-your-hmrc-app HMRC’s free tax app is available to download from the App Store for iOS and from the Google Play Store for Android. The latest version of the app includes updated functionality to check your Child The post Have you downloaded your HMRC app? appeared first on Feldon Accountancy. Thu, 12 Oct 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/10/have-you-downloaded-your-hmrc-app thumbnail https://www.feldonaccountancy.co.uk/2023/10/when-you-must-register-for-vat The taxable turnover threshold, which determines whether businesses should be registered for VAT, is currently £85,000. The taxable turnover threshold that determines whether businesses can apply for The post When you must register for VAT appeared first on Feldon Accountancy. Thu, 12 Oct 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/10/when-you-must-register-for-vat thumbnail https://www.feldonaccountancy.co.uk/2023/10/check-if-you-need-to-pay-someone-through-paye Employers usually have to pay employees through PAYE if they earn £123 or more a week (£533 a month or £6,396 a year). There is no requirement to pay self-employed workers through PAYE. HMRC’s The post Check if you need to pay someone through PAYE appeared first on Feldon Accountancy. Thu, 12 Oct 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/10/check-if-you-need-to-pay-someone-through-paye thumbnail https://www.feldonaccountancy.co.uk/2023/10/deadlines-2022-23-self-assessment-tax-return The 2022-23 tax return filing deadline for taxpayers who continue to submit paper Self-Assessment returns is 31 October 2023. Late submission of a Self-Assessment return will incur a £100 late filing The post Deadlines 2022-23 Self-Assessment tax return appeared first on Feldon Accountancy. Thu, 12 Oct 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/10/deadlines-2022-23-self-assessment-tax-return thumbnail https://www.feldonaccountancy.co.uk/2023/10/cost-of-living-payments-2023-24-support The Cost of Living support package has been designed to help over 8 million households in receipt of means tested benefits. The details for Cost of Living Payments due in the 2023-24 tax year were The post Cost of Living payments 2023-24 support appeared first on Feldon Accountancy. Thu, 12 Oct 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/10/cost-of-living-payments-2023-24-support thumbnail https://www.feldonaccountancy.co.uk/2023/10/bank-deposits-covered-by-fscs Your eligible deposits with all High Street bank are covered by the Financial Services Compensation Scheme (FSCS). The present limit of this FSCS guarantee is £85,000 and this applies to total The post Bank deposits covered by FSCS appeared first on Feldon Accountancy. Mon, 09 Oct 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/10/bank-deposits-covered-by-fscs thumbnail https://www.feldonaccountancy.co.uk/2023/10/reforms-to-powers-of-attorney These legal agreements enable a person to grant decision making powers about their care, treatment or financial affairs to another person if they lose mental capacity. The Powers of Attorney Act The post Reforms to powers of attorney appeared first on Feldon Accountancy. Mon, 09 Oct 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/10/reforms-to-powers-of-attorney thumbnail https://www.feldonaccountancy.co.uk/2023/10/paying-tax-by-certificate-of-tax-deposit The Certificate of Tax Deposit scheme allowed users to deposit money with HMRC and use it later to pay tax liabilities. The date that the certificate was purchased was known as the effective date of The post Paying tax by Certificate of Tax Deposit appeared first on Feldon Accountancy. Thu, 05 Oct 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/10/paying-tax-by-certificate-of-tax-deposit thumbnail https://www.feldonaccountancy.co.uk/2023/10/cis-contractors-monthly-tax-chores The Construction Industry Scheme (CIS) is a set of special rules for tax and National Insurance for those working in the construction industry. Businesses in the construction industry are known as The post CIS contractors monthly tax chores appeared first on Feldon Accountancy. Thu, 05 Oct 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/10/cis-contractors-monthly-tax-chores thumbnail https://www.feldonaccountancy.co.uk/2023/10/when-you-can-and-cannot-use-the-rent-a-room-scheme The rent-a-room scheme is a set of special rules designed to help homeowners who rent-a-room in their home. If you are using this scheme, you should ensure that rents received from lodgers during the The post When you can and cannot use the Rent-a-Room Scheme appeared first on Feldon Accountancy. Thu, 05 Oct 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/10/when-you-can-and-cannot-use-the-rent-a-room-scheme thumbnail https://www.feldonaccountancy.co.uk/2023/10/income-tax-in-scotland-if-you-have-more-than-one-home There is an interesting anomaly that can affect taxpayers with homes in Scotland and other parts of the UK. Where this is the case, the question arises as to whether or not the taxpayer is liable to The post Income Tax in Scotland if you have more than one home appeared first on Feldon Accountancy. Thu, 05 Oct 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/10/income-tax-in-scotland-if-you-have-more-than-one-home thumbnail https://www.feldonaccountancy.co.uk/2023/10/reporting-self-employed-profits-2023-24 The basis of assessment reforms will change the way trading income is allocated to tax years. The changes will affect sole traders and partnerships that use an accounting date between 6 April and 30 The post Reporting self-employed profits 2023-24 appeared first on Feldon Accountancy. Thu, 05 Oct 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/10/reporting-self-employed-profits-2023-24 thumbnail https://www.feldonaccountancy.co.uk/2023/10/transferring-iht-unused-nil-rate-band The Inheritance Tax residence nil rate band (RNRB) is a transferable allowance for married couples and civil partners (per person) when their main residence is passed down to a direct descendent, such The post Transferring IHT unused nil rate band appeared first on Feldon Accountancy. Thu, 05 Oct 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/10/transferring-iht-unused-nil-rate-band thumbnail https://www.feldonaccountancy.co.uk/2023/10/government-to-support-action-against-late-payers Most smaller businesses will have spent time chasing customers for payment beyond their agreed payment terms. These demands take entrepreneurs away from their core tasks of business building and The post Government to support action against late payers appeared first on Feldon Accountancy. Tue, 03 Oct 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/10/government-to-support-action-against-late-payers thumbnail https://www.feldonaccountancy.co.uk/2023/10/national-living-wage-potential-boost The government looks likely to accept the recommendations of the Low Pay Commission with a boost to the National Living Wage rate. In summary: National Living Wage will rise to two-thirds of The post National Living Wage potential boost appeared first on Feldon Accountancy. Tue, 03 Oct 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/10/national-living-wage-potential-boost thumbnail https://www.feldonaccountancy.co.uk/2023/09/community-investment-tax-relief-scheme The Community Investment Tax Relief (CITR) scheme is designed to encourage investment in accredited Community Development Finance Institutions (CDFIs). The tax relief under the scheme is available to The post Community Investment Tax Relief scheme appeared first on Feldon Accountancy. Thu, 28 Sep 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/09/community-investment-tax-relief-scheme thumbnail https://www.feldonaccountancy.co.uk/2023/09/replacement-of-domestic-items-relief The replacement of domestic items relief enables landlords to claim tax relief when they replace movable furniture, furnishings, household appliances and kitchenware in a rental property. The The post Replacement of domestic items relief appeared first on Feldon Accountancy. Thu, 28 Sep 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/09/replacement-of-domestic-items-relief thumbnail https://www.feldonaccountancy.co.uk/2023/09/accommodation-that-qualifies-as-holiday-lets The furnished holiday lettings (FHL) rules allow holiday letting of properties that meet certain conditions to be treated as a trade for specific tax purposes. In order to qualify as an FHL, the The post Accommodation that qualifies as Holiday Lets appeared first on Feldon Accountancy. Thu, 28 Sep 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/09/accommodation-that-qualifies-as-holiday-lets thumbnail https://www.feldonaccountancy.co.uk/2023/09/vat-capital-goods-scheme The VAT Capital Goods Scheme (CGS) is a means of spreading the initial VAT recovery in respect of certain assets over either 5 or 10 years. The scheme seeks to agree a fair and reasonable attribution The post VAT Capital Goods Scheme appeared first on Feldon Accountancy. Thu, 28 Sep 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/09/vat-capital-goods-scheme thumbnail https://www.feldonaccountancy.co.uk/2023/09/do-you-need-to-register-for-self-assessment Taxpayers that need to complete a Self-Assessment return for the first time are required to notify HMRC. This is a final reminder that the latest date that HMRC should be notified, by new The post Do you need to register for Self-Assessment? appeared first on Feldon Accountancy. Thu, 28 Sep 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/09/do-you-need-to-register-for-self-assessment thumbnail https://www.feldonaccountancy.co.uk/2023/09/unclaimed-child-trust-fund-accounts HMRC has published their latest statistics on Child Trust Funds (CTFs) that reveal that whilst around 500,000 accounts have now matured, there remains some 430,000 funds that have matured but remain The post Unclaimed Child Trust Fund Accounts appeared first on Feldon Accountancy. Thu, 28 Sep 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/09/unclaimed-child-trust-fund-accounts thumbnail https://www.feldonaccountancy.co.uk/2023/09/help-for-businesses-launching-new-ai Organisations across the country will be able to demonstrate that their new artificial intelligence and digital innovations meet regulatory requirements so they can quickly bring them to market. In The post Help for businesses launching new AI appeared first on Feldon Accountancy. Tue, 26 Sep 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/09/help-for-businesses-launching-new-ai thumbnail https://www.feldonaccountancy.co.uk/2023/09/charity-trustees-quiz The Charity Commission has launched the next phase of its trustee campaign which aims to increase charity trustees’ knowledge and drive a positive change in charities’ governance. The campaign The post Charity Trustees Quiz appeared first on Feldon Accountancy. Tue, 26 Sep 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/09/charity-trustees-quiz thumbnail https://www.feldonaccountancy.co.uk/2023/09/activities-subject-to-the-scope-of-vat There are a number of conditions that must be satisfied for an activity to be within the scope of UK VAT. An activity will fall within the scope of VAT when all the following conditions are The post Activities subject to the scope of VAT appeared first on Feldon Accountancy. Thu, 21 Sep 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/09/activities-subject-to-the-scope-of-vat thumbnail https://www.feldonaccountancy.co.uk/2023/09/repairs-or-replacement-of-business-assets The term 'capital allowances' is used to describe the allowances available to businesses to secure tax relief for certain capital expenditure. The rules that govern the purchase of capital equipment The post Repairs or replacement of business assets appeared first on Feldon Accountancy. Thu, 21 Sep 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/09/repairs-or-replacement-of-business-assets thumbnail https://www.feldonaccountancy.co.uk/2023/09/utilising-capital-gains-tax-losses Usually, if you sell an asset for less than you paid for it you would make a capital loss. As a general rule, if the asset would have been liable to CGT had a gain taken place, then the loss should be The post Utilising Capital Gains Tax losses appeared first on Feldon Accountancy. Thu, 21 Sep 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/09/utilising-capital-gains-tax-losses thumbnail https://www.feldonaccountancy.co.uk/2023/09/no-gain-no-loss-transfers-in-groups-of-companies There are special rules concerning the transfer of assets in groups of companies. In most cases, this means that where assets are moved around group companies, there are no immediate capital gains The post No gain – no loss transfers in groups of companies appeared first on Feldon Accountancy. Thu, 21 Sep 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/09/no-gain-no-loss-transfers-in-groups-of-companies thumbnail https://www.feldonaccountancy.co.uk/2023/09/tax-on-incentive-rewards Companies may use incentive award schemes to encourage their employees in various ways. For example, to sell more of their own goods and services. The award can be in forms including cash, vouchers or The post Tax on incentive rewards appeared first on Feldon Accountancy. Thu, 21 Sep 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/09/tax-on-incentive-rewards thumbnail https://www.feldonaccountancy.co.uk/2023/09/change-to-company-accounts-filing The Economic Crime and Corporate Transparency Bill has completed its initial journey through the House of Commons and the House of Lords and is now at the stage known as, consideration of amendments. The post Change to Company Accounts filing appeared first on Feldon Accountancy. Thu, 21 Sep 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/09/change-to-company-accounts-filing thumbnail https://www.feldonaccountancy.co.uk/2023/09/changes-afoot-at-companies-house Due to new legislation working its way through Parliament, Companies House will be making a number of significant changes. In a recent blog post, they made the following announcement: We’re The post Changes afoot at Companies House appeared first on Feldon Accountancy. Tue, 19 Sep 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/09/changes-afoot-at-companies-house thumbnail https://www.feldonaccountancy.co.uk/2023/09/what-is-a-trust A trust is an obligation that binds a trustee, an individual or a company, to deal with assets such as land, money and shares which form part of the trust. The person who places assets into a trust is The post What is a trust? appeared first on Feldon Accountancy. Thu, 14 Sep 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/09/what-is-a-trust thumbnail https://www.feldonaccountancy.co.uk/2023/09/paying-tax-by-debit-card-or-business-credit-card It is possible to pay HMRC by corporate credit card or corporate debit cards. The use of these cards is subject to a fee. Payment by personal debit cards is currently fee-free. There is also no charge The post Paying tax by debit card or business credit card appeared first on Feldon Accountancy. Thu, 14 Sep 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/09/paying-tax-by-debit-card-or-business-credit-card thumbnail https://www.feldonaccountancy.co.uk/2023/09/autumn-statement-2023 The Chancellor, Jeremy Hunt, has announced that he will deliver his Autumn Statement to the House of Commons on Wednesday, 22 November 2023. This move would imply that the annual Budget will not take The post Autumn Statement 2023 appeared first on Feldon Accountancy. Thu, 14 Sep 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/09/autumn-statement-2023 thumbnail https://www.feldonaccountancy.co.uk/2023/09/calculate-tax-on-company-cars Where an employee with a company car is provided with fuel for their own private use by their employers, the default position is that the employee is required to pay the car fuel benefit charge. The The post Calculate tax on company cars appeared first on Feldon Accountancy. Thu, 14 Sep 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/09/calculate-tax-on-company-cars thumbnail https://www.feldonaccountancy.co.uk/2023/09/who-is-a-scottish-taxpayer The Scottish rate of income (SRIT) is payable on the non-savings and non-dividend income of those defined as Scottish taxpayers. This means that Scottish taxpayers who also have savings and dividend The post Who is a Scottish taxpayer? appeared first on Feldon Accountancy. Thu, 14 Sep 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/09/who-is-a-scottish-taxpayer thumbnail https://www.feldonaccountancy.co.uk/2023/09/checking-your-national-insurance-record HMRC offers an online service to check your National Insurance Contributions (NIC) record online. In order to use the service, you will need to have a Government Gateway account. If you don't have an The post Checking your National Insurance record appeared first on Feldon Accountancy. Thu, 14 Sep 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/09/checking-your-national-insurance-record thumbnail https://www.feldonaccountancy.co.uk/2023/09/tax-diary-october-november-2023 1 October 2023 - Due date for Corporation Tax due for the year ended 31 December 2022. 19 October 2023 - PAYE and NIC deductions due for month ended 5 October 2023. (If you pay your tax The post Tax Diary October/November 2023 appeared first on Feldon Accountancy. Wed, 13 Sep 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/09/tax-diary-october-november-2023 thumbnail https://www.feldonaccountancy.co.uk/2023/09/companies-house-fees-increase Companies House have published information that suggests their fees may be increasing in the near future. And it’s all to do with the ECCT Bill currently passing through parliament. To give it its The post Companies House fees increase? appeared first on Feldon Accountancy. Tue, 12 Sep 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/09/companies-house-fees-increase thumbnail https://www.feldonaccountancy.co.uk/2023/09/clampdown-on-fake-reviews-and-hidden-fees The Department for Business and Trade published the following announcement, that if implemented, should reduce the present trend to publish fake reviews and charge hidden fees at point of sale. The The post Clampdown on fake reviews and hidden fees appeared first on Feldon Accountancy. Tue, 12 Sep 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/09/clampdown-on-fake-reviews-and-hidden-fees thumbnail https://www.feldonaccountancy.co.uk/2023/09/back-to-school-help-with-childcare-costs As children return to school after the summer break, HMRC is reminding parents that they may be eligible to use the Tax-Free Childcare (TFC) scheme to help pay for any approved childcare. The TFC The post Back to school – help with childcare costs appeared first on Feldon Accountancy. Thu, 07 Sep 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/09/back-to-school-help-with-childcare-costs thumbnail https://www.feldonaccountancy.co.uk/2023/09/tax-when-you-sell-property The annual exempt amount applicable to Capital Gains Tax (CGT) is currently £6,000 and is set to be reduced to £3,000 from April 2024. CGT is normally charged at a simple flat rate of 20% and this The post Tax when you sell property appeared first on Feldon Accountancy. Thu, 07 Sep 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/09/tax-when-you-sell-property thumbnail https://www.feldonaccountancy.co.uk/2023/09/business-asset-disposals-taxed-at-10 Business Asset Disposal Relief (BADR) applies to the sale of a business, shares in a trading company or an individual’s interest in a trading partnership. Where this relief is available Capital Gains The post Business asset disposals taxed at 10% appeared first on Feldon Accountancy. Thu, 07 Sep 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/09/business-asset-disposals-taxed-at-10 thumbnail https://www.feldonaccountancy.co.uk/2023/09/taking-goods-temporarily-out-of-great-britain There are special rules that must be followed when goods are taken temporarily outside of Great Britain (England, Scotland and Wales). As a general rule, when goods are moved, they must be declared, The post Taking goods temporarily out of Great Britain appeared first on Feldon Accountancy. Thu, 07 Sep 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/09/taking-goods-temporarily-out-of-great-britain thumbnail https://www.feldonaccountancy.co.uk/2023/09/tax-on-trivial-benefits There is a benefit-in-kind (BiK) trivial exemption that applies to small non-cash benefits like a bottle of wine, or a bouquet of flowers given occasionally to employees, or any other BiK classed as The post Tax on trivial benefits appeared first on Feldon Accountancy. Thu, 07 Sep 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/09/tax-on-trivial-benefits thumbnail https://www.feldonaccountancy.co.uk/2023/09/closing-a-limited-company There are a number of reasons why you may consider closing your limited company. This could be because the limited company structure no longer suits your needs, your business is no longer active, or The post Closing a limited company appeared first on Feldon Accountancy. Thu, 07 Sep 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/09/closing-a-limited-company thumbnail https://www.feldonaccountancy.co.uk/2023/09/tracking-down-lost-pension-details Ever had a nagging feeling that you have a pension pot somewhere but have no idea how to track it down? Well, there is a solution. There is a search link on the GOV.UK website at The post Tracking down lost pension details appeared first on Feldon Accountancy. Mon, 04 Sep 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/09/tracking-down-lost-pension-details thumbnail https://www.feldonaccountancy.co.uk/2023/09/companies-urged-to-file-accounts-early Companies House has issued a news update targeted at companies who are due to file accounts by the end of September 2023. Generally, this would be for accounts ending 31 December 2022. In their The post Companies urged to file accounts early appeared first on Feldon Accountancy. Mon, 04 Sep 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/09/companies-urged-to-file-accounts-early thumbnail https://www.feldonaccountancy.co.uk/2023/08/current-capital-allowances-for-car-purchases If you are thinking about purchasing a company car through a limited company, there are many issues that need to be considered. In this short article we will point out some of the main issues, but it The post Current capital allowances for car purchases appeared first on Feldon Accountancy. Thu, 31 Aug 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/08/current-capital-allowances-for-car-purchases thumbnail https://www.feldonaccountancy.co.uk/2023/08/pension-tax-relief-at-source You can usually claim tax relief for your private pension contributions. There is an annual allowance for tax relief on pensions of £60,000 for the current 2023-24 tax year. The annual allowance for The post Pension tax relief at source appeared first on Feldon Accountancy. Thu, 31 Aug 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/08/pension-tax-relief-at-source thumbnail https://www.feldonaccountancy.co.uk/2023/08/higher-rate-tax-relief-on-gifts-to-charities The gift aid scheme, which was originally introduced in 1990, allows charities to reclaim from HMRC the basic rate of Income Tax deducted from qualifying donations by UK taxpayers. This means that The post Higher rate tax relief on gifts to charities appeared first on Feldon Accountancy. Thu, 31 Aug 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/08/higher-rate-tax-relief-on-gifts-to-charities thumbnail https://www.feldonaccountancy.co.uk/2023/08/self-assessment-threshold-change The £100,000 threshold for Self-Assessment change for taxpayers taxed through PAYE only, increased from £100,000 to £150,000 with effect from 6 April 2023. However, the Self-Assessment for 2022-23 tax The post Self-Assessment threshold change appeared first on Feldon Accountancy. Thu, 31 Aug 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/08/self-assessment-threshold-change thumbnail https://www.feldonaccountancy.co.uk/2023/08/reducing-self-assessment-payments-on-account Self-assessment taxpayers are usually required to pay their income tax liabilities in three instalments each year. The first two payments are due on: 31 January during the tax year e.g., for The post Reducing self-assessment payments on account appeared first on Feldon Accountancy. Thu, 31 Aug 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/08/reducing-self-assessment-payments-on-account thumbnail https://www.feldonaccountancy.co.uk/2023/08/share-buy-back-clearance-applications Most payments a company makes to its shareholders, in respect of their shares, will be qualifying distributions and be subject to Income Tax. However, if certain conditions are met, the payment can The post Share buy-back clearance applications appeared first on Feldon Accountancy. Thu, 31 Aug 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/08/share-buy-back-clearance-applications thumbnail https://www.feldonaccountancy.co.uk/2023/08/are-you-a-company-director There is more to being appointed a company director than accepting the title. According to Companies House directors formal, statutory duties and responsibilities include: filing an annual The post Are you a company director? appeared first on Feldon Accountancy. Tue, 29 Aug 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/08/are-you-a-company-director thumbnail https://www.feldonaccountancy.co.uk/2023/08/giving-money-to-charity-in-your-will A reduced rate of Inheritance Tax (IHT) of 36% (reduced from 40%) applies where 10% or more of a deceased’s net estate is left to charity. The lower rate applies where 10% or more of the ‘net value’ The post Giving money to charity in your Will appeared first on Feldon Accountancy. Thu, 24 Aug 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/08/giving-money-to-charity-in-your-will thumbnail https://www.feldonaccountancy.co.uk/2023/08/vat-supplies-for-no-consideration In most cases, a supply of goods or services for VAT purposes is deemed to have taken place in return for consideration. This is usually payment in money but can also be of a The post VAT supplies for no consideration appeared first on Feldon Accountancy. Thu, 24 Aug 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/08/vat-supplies-for-no-consideration thumbnail https://www.feldonaccountancy.co.uk/2023/08/on-your-bike-tax-free The Cycle to Work scheme was introduced over 20 years ago to help promote the use of environmentally friendly modes of transport. The scheme allows employers to provide bicycles and cyclists’ safety The post On your bike tax-free appeared first on Feldon Accountancy. Thu, 24 Aug 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/08/on-your-bike-tax-free thumbnail https://www.feldonaccountancy.co.uk/2023/08/do-you-need-to-submit-a-self-assessment-tax-return There are a number of reasons why you might need to complete a Self-Assessment return for the first time. This includes if you are self-employed, have an annual income over £100,000 and / or have The post Do you need to submit a Self-Assessment tax return? appeared first on Feldon Accountancy. Thu, 24 Aug 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/08/do-you-need-to-submit-a-self-assessment-tax-return thumbnail https://www.feldonaccountancy.co.uk/2023/08/checking-your-simple-assessment-tax-bill Simple Assessment is a method by which HMRC can assess where additional Income Tax is due by a taxpayer. A Simple Assessment letter is usually issued to taxpayers with reasonable straight forward tax The post Checking your Simple Assessment tax bill appeared first on Feldon Accountancy. Thu, 24 Aug 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/08/checking-your-simple-assessment-tax-bill thumbnail https://www.feldonaccountancy.co.uk/2023/08/class-2-and-4-nic-for-the-self-employed There are two types of National Insurance contributions (NICs) payable by most self-employed people. These are known as Class 2 NICs and Class 4 NICs. Class 2 NICs are paid by all self-employed The post Class 2 and 4 NIC for the self-employed appeared first on Feldon Accountancy. Thu, 24 Aug 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/08/class-2-and-4-nic-for-the-self-employed thumbnail https://www.feldonaccountancy.co.uk/2023/08/the-best-and-worst-of-british-banks Personal and small business current account holders were asked how likely they would be to recommend their provider to a friend, relative or other business. The survey also covered the quality of The post The best and worst of British banks appeared first on Feldon Accountancy. Mon, 21 Aug 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/08/the-best-and-worst-of-british-banks thumbnail https://www.feldonaccountancy.co.uk/2023/08/access-to-cash-to-be-protected Recognising the need to maintain access to cash withdrawal facilities, the government is stepping in to set out a new access standard in the UK. The vast majority of people and businesses are set to The post Access to cash to be protected appeared first on Feldon Accountancy. Mon, 21 Aug 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/08/access-to-cash-to-be-protected thumbnail https://www.feldonaccountancy.co.uk/2023/08/claiming-tax-relief-on-employment-expenses If you are an employee that needs to buy substantial equipment to use as part of your employment you may be able to claim tax relief. In most cases you can claim tax relief on the full cost of this The post Claiming tax relief on employment expenses appeared first on Feldon Accountancy. Thu, 17 Aug 2023 04:00:00 GMT https://www.feldonaccountancy.co.uk/2023/08/claiming-tax-relief-on-employment-expenses thumbnail https://www.feldonaccountancy.co.uk/2021/02/budget-2021-webinar The post BUDGET 2021. BOOK YOUR PLACE ON OUR FREE WEBINAR. appeared first on Feldon Accountancy. Mon, 15 Feb 2021 14:06:00 GMT https://www.feldonaccountancy.co.uk/2021/02/budget-2021-webinar thumbnail https://www.feldonaccountancy.co.uk/1970/01/using-overpayment-relief-to-recover-overpaid-taxes Overpayment relief allows taxpayers to reclaim overpaid taxes relating to Income Tax, Capital Gains Tax, Class 4 National Insurance, Corporation Tax or to adjust an excessive tax assessment. HMRC outlines the rules for overpayment relief, which aim to: give a single route for persons to recover overpayments; bring the claims process into line with self-assessment […] The post Using overpayment relief to recover overpaid taxes appeared first on Feldon Accountancy. Thu, 01 Jan 1970 00:00:00 GMT https://www.feldonaccountancy.co.uk/1970/01/using-overpayment-relief-to-recover-overpaid-taxes