Knowledge Keep up to date with the latest in accounting amendments & requirements
Welcome to our Knowledge Base
Here you will find lots of useful information relating to HMRC guidelines and the latest in guidance.
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Exempt transfers between siblings
Inheritance Tax (IHT) is levied on a person’s estate when they die and can also be payable during a person’s lifetime on certain trusts and gifts. The current IHT nil rate band is £325,000 per person,
Tax Diary February/March 2023
1 February 2023 – Due date for corporation tax payable for the year ended 30 April 2022.
19 February 2023 – PAYE and NIC deductions due for month ended 5 February 2023. (If you pay your tax
New laws to mitigate disruption during public service strikes
Working people across the UK will be protected from disruptive strikes thanks to new laws introduced recently. They will allow employers in critical public sectors to maintain minimum levels of
A definition of trusts
HMRC’s internal manuals states that the word `trust’ describes a relationship between certain persons
which is recognised by the law;
concerned with particular property; and
enforceable by
New Energy Bills Discount Scheme
The government has published details of a new Energy Bills Discount Scheme which will replace the current Energy Bill Relief Scheme that comes to an end on 31 March 2023. The new scheme will offer
Dissolved companies and bona vacantia
A company comes to a legal end when it is dissolved. However, one if the important points to be aware of when doing so is that the dissolved company can no longer do or receive anything including
IHT – estimating an estate’s value
Inheritance Tax (IHT) is levied on a person’s estate when they die and can also be payable during a person’s lifetime on certain trusts and gifts. The rate of Inheritance Tax payable is 40% on death
When you must register for VAT
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
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