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

Tax exempt private medical costs

Tax exempt private medical costs

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’

New life sciences growth package announced

New life sciences growth package announced

The Chancellor, Jeremy Hunt, has announced a new £650 million package of measures to help boost UK life sciences.

The new ‘Life Sci for Growth’ package brings together 10 different policies including

Passport delays and applications

Passport delays and applications

A recent investigation by the House of Commons Committee of Public Accounts, in connection with the UK passport office, has found that hundreds of thousands of applicants faced unacceptable delays in

Check when to expect reply from HMRC

Check when to expect reply from HMRC

HMRC has a useful online tool to help agents and taxpayers know when they can expect to receive a reply from HMRC regarding a query or request that they have made. The online tool is updated

Gift Aid small donations scheme

Gift Aid small donations scheme

The Gift Aid Small Donations Scheme (GASDS) allows qualifying charities and Community Amateur Sports Clubs (CASCs) to claim a top-up equivalent to Gift Aid on small donations of money made without a

What you can and cannot patent

What you can and cannot patent

The GOV.UK website offers the following guidance if you are considering a patent application.

A UK patent may help if you want to take legal action against someone who uses your invention without

Complexity may be double-edged sword

Complexity may be double edged sword

There does seem to be a trend to replace human interactions with automated AI systems. This is especially evident in the management of our tax system.

There was a time, many years ago, when each

Tax Diary July/August 2023

Tax Diary July/August

1 July 2023 – Due date for corporation tax due for the year ended 30 September 2022.

6 July 2023 – Complete and submit forms P11D return of benefits and expenses and P11D(b) return of Class 1A

What you must tell HMRC

What you must tell HMRC

If your personal details change you may be required to notify HMRC as this can affect your entitlement to certain tax breaks and or benefits.

For example, you need to tell HMRC if:

you get married

Using Capital Gains Tax losses

Using Capital Gains Tax losses

If you sell an asset for less than you paid for it, you would make a capital loss. As a general rule if the asset would have been liable to CGT had a gain taken place, then the loss should be an

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