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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Interest rates on student loans from September 2022
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. It is
Back to school – help with childcare costs
As children have returned to school, HMRC is reminding parents that they may be eligible for Tax-Free Childcare (TFC) to help pay for breakfast and after school clubs.
The TFC scheme can help parents
PAYE Settlement Agreements
A PAYE Settlement Agreement (PSA) allows employers to make one annual payment to cover all the tax and National Insurance due on small or irregular taxable expenses or benefits for employees.
The
Company Share Option Plans
There are a number of government approved share schemes which offer tax advantages to employees. One of these schemes is known as the Company Share Option Plans (CSOP). Under a CSOP, employees do not
Overdrawn director’s loan account
An overdrawn director’s loan account is created when a director (or other close family member) ‘borrows’ money from their company. Many companies, particularly ‘close’ private companies, pay for
Farming – using the herd basis
There are special rules which can apply to farmers and market gardeners that prepare their accounts on accruals basis. This includes special rules for farmers’ averaging relief, dealing with losses
Still time to claim super-deduction
There is still time to claim the super-deduction allowance that offers 130% first-year tax relief. The deduction is available to companies until March 2023. The super-deduction is designed to help
Working from home
If you receive no compensation from your employer, you can still claim tax relief for certain costs that arise when working from home. HMRC will usually allow you to claim tax relief if you use your
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