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.
Government Unlocks Success for Small Businesses
Small businesses across the UK can now access streamlined support and advice through the newly launched Business Growth Service, designed to simplify and enhance the way SMEs engage with government
Tax if you live abroad and sell UK home
One of the most commonly used and valuable exemptions from Capital Gains Tax (CGT) is for the sale of a family home. Generally, there is no CGT on a property that has been used as your main family
Protect your land and property from fraud
It is important to take the necessary steps to protect your land and property from fraud.
You are at a higher risk if:
Your identity has been stolen
You rent out your property
You live
Transfers of assets abroad
A new rule aimed at preventing individuals from using companies to avoid taxes through the Transfer of Assets Abroad (ToAA) provisions applies to income arising to persons abroad on and after 6 April
VAT Flat Rate Scheme overview
The VAT Flat Rate Scheme allows businesses to pay VAT as a fixed percentage of their total turnover, which includes VAT. The applicable percentage varies based on the business type. This scheme is
Apply for or locate a National Insurance number
If you have lost or forgotten your National Insurance number, there are several ways to retrieve it.
You can find your National Insurance number:
On a document you already possess, such as a P60,
How to interpret your tax code
The letters in your tax code indicate whether you are entitled to the annual tax-free personal allowance. These codes are updated each year and help employers calculate how much tax should be deducted
Tax Diary January/February 2025
1 January 2025 – Due date for Corporation Tax due for the year ended 31 March 2024
19 January 2025 – PAYE and NIC deductions due for month ended 5 January 2025. (If you pay your tax electronically
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