NEWS Catch up with the latest in accounting news

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Catch up on the latest news in accounting here, from cutting edge bookkeeping technology to self-assessment updates.

VAT – option to tax property

VAT – option to tax property

There are special VAT rules that allow businesses to standard rate the supply of most non-residential and commercial land and buildings (known as the option to tax). This means that subsequent

Assets made available to an employee

Assets made available to an employee

Assets such as computers, televisions and bicycles that are made available to employees can create certain tax, National Insurance and reporting obligations. There is no requirement to report anything

Do you need to register for self-assessment?

Do you need to register for self assessment?

There are a number of reasons why you might need to complete a self-assessment tax return. This includes if you are self-employed, a company director, have an annual income over £150,000 and / or have

Reporting company car changes

Reporting company car changes

There is a requirement to notify HMRC if you make any company cars available for private use by company directors or employees. The definition of ‘Private use’ includes employees’ journeys between

Correcting payroll mistakes

Correcting payroll mistakes

Employers generally use payroll software or other payroll services to record employees pay, deductions and National Insurance contributions on or before each payday. They also need to consider other

Government steps to secure UK supply chains

Government steps to secure UK supply chains

Industry leaders have welcomed the Government’s new Critical Imports and Supply Chain Strategy, safeguarding UK supplies of critical goods such as medicines, minerals and semiconductors.

In a press

Government launches new WhatsApp channel

Government launches new WhatsApp channel

The Government has launched a new account on WhatsApp Channels, allowing members of the public to subscribe to receive important updates to their phones.

As a trusted, verified account the UK

Using the VAT Flat Rate Scheme

Using the VAT Flat Rate Scheme

The VAT Flat Rate scheme allows businesses to pay VAT as a fixed percentage of their VAT inclusive turnover. The actual percentage used depends on the type of business. The scheme has been designed to

IHT gifts – 7 year limit

IHT gifts – year limit

Most gifts made during a person’s life are not subject to tax at the time of the gift. These lifetime transfers are known as ‘potentially exempt transfers’ or ‘PETs’. These gifts or transfers achieve

Reminder to claim the Marriage Allowance

Reminder to claim the Marriage Allowance

The marriage allowance applies to married couples and those in a civil partnership where a spouse or civil partner does not pay tax or does not pay tax above the basic rate threshold for Income Tax

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