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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Definitions of connected persons
The definition of a connected person for tax purposes can be complex and varies depending on the circumstances at hand. A statutory definition of “connected persons” for Capital Gains Tax
Employee ownership and involvement
There are many ways that employees can own a stake in their employer’s company. However, employee ownership usually refers to a situation where all employees of a business have a ‘significant and
Contacting HMRC by email
HMRC has published a new guidance titled ‘Corresponding with HMRC by email’. The guidance was published on 9 August 2022 and explains some of the risk factors associated with contacting HMRC in this
VAT Flat Rate Scheme
The VAT Flat Rate Scheme (FRS) has been designed to simplify the way a business accounts for VAT and in so doing reduce the administration costs of complying with the VAT legislation. The scheme is
Overseas seller VAT check
Since 2018, online marketplaces (such as eBay or Amazon) have been required to help tackle online VAT fraud. These measures, known as joint and several liability (JSL) for marketplaces aim to ensure
Termination payments
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
Bona Vacantia – dissolved companies
The final step in bringing a company to a legal end is dissolution. However, one of the important points to consider when doing so is that the dissolved company can no longer do or receive anything
Reminder of compensation limits for bank deposits
The bank deposit guarantee limit is the amount of money that is guaranteed for savers in UK banks and building societies should the institution become insolvent. The Financial Services Compensation
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