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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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
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
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,
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
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’
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
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
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
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