Knowledge Keep up to date with the latest in accounting amendments & requirements

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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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Meaning of “bona vacantia”

Meaning of “bona vacantia”

Bona vacantia is Latin term meaning “ownerless goods”. The bodies that deal with bona vacantia claims vary across the United Kingdom, but they all ultimately represent the Crown.

Under

Reclaiming VAT on a self-build home project

Reclaiming VAT on a self build home project

Reclaiming VAT on a self-build home project can significantly reduce the overall cost of building or converting your property. The VAT DIY Housebuilders Scheme is a special VAT scheme that allows

Claiming a tax refund from HMRC

Claiming a tax refund from HMRC

If you have paid too much tax to HMRC, you may be able to claim a tax refund. Overpayments can happen for several reasons, such as a change in employment, being placed on the wrong tax code or failing

Changes to reporting of BiKs

Changes to reporting of BiKs

Mandatory payrolling of benefits in kind (BiKs) and taxable employment expenses will be introduced from 6 April 2027. This represents a major change in reporting and means that for most benefits, the

Spring Statement 2026

Spring Statement

The Chancellor’s Spring Statement, presented to Parliament 3 March 2026, was packed with political content that has no real impact for UK taxpayers, business owners or employees. The substance of her

Why disregarding the minimum wage constitutes modern slavery

Why disregarding the minimum wage constitutes modern slavery

The National Minimum Wage (NMW) Act 1998 remains contentious, especially after the introduction of the NMW (Amendment) Regulations 2025, as it draws the legal line in the sand between employment and

Renewed conflict in the Middle East

Renewed conflict in the Middle East

Renewed conflict in the Middle East is already having knock on effects for the global economy, and UK business owners are likely to feel the impact through higher costs and increased uncertainty

AI and the future of work: why healthcare remains resilient

AI and the future of work: why healthcare remains resilient

As artificial intelligence becomes embedded in everyday business activity, many clients are asking how it might affect their industry and long term prospects. While some sectors face significant

Meaning of trade for tax purposes

Meaning of trade for tax purposes

The meaning of trade for tax purposes, often referred to as HMRC’s “badges of trade” test helps determine whether an activity is a genuine business or simply a personal hobby. While the

Which supplies are zero rated for VAT?

Which supplies are zero rated for VAT?

Understanding which supplies are zero rated for VAT is essential for any business. A zero-rated supply is still a taxable supply, but it is charged at a 0% VAT rate. This distinction is important

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