by Gary Woosey | Apr 22, 2025 | Blog, Tax, VAT
Across the major taxes, HM Revenue & Customs (HMRC) issues penalties when tax is not filed or paid on time. The specific rules vary by tax type, but late submission or payment will cost you. Let’s look at what has changed, particularly under Making Tax Digital...
by Gary Woosey | Dec 10, 2024 | Blog, HMRC, Scams, Tax
We are getting ever closer to 31 January 2025 and the Self-Assessment tax return deadline, so businesses and individuals are being urged to stay vigilant against a surge in tax-related scams. HM Revenue and Customs (HMRC) has reported a rise in fraudulent activity...
by Gary Woosey | Oct 30, 2024 | Tax
A new Government, a new Chancellor and a new approach to the UK’s fiscal policies. Rachel Reeves entered her first Budget with a strong message that her measures would lead to “an economy that is growing, creating wealth and opportunity for all”. To...
by Gary Woosey | May 28, 2024 | Blog, Tax
A director’s loan is a form of profit extraction from your company, often used alongside salaries, dividends and expenses. Essentially, you borrow money from your own company that is not accounted for by one of the other profit extraction options. Director’s loans...
by Gary Woosey | May 21, 2024 | Blog, Employment, SME, SMEs, Tax
When your business takes on a new employee, we know that you’re eager to get them settled into their role – but not before you’ve completed the right checks and set them up in your payroll system! If you ask for employment and income history from new starters, this...
by Gary Woosey | May 14, 2024 | Blog, Property, Property News, Tax
If you’ve invested in a property to let and furnished it, you will be liable to pay tax on the income you receive from letting the property out. However, you may be able to claim some allowable tax reliefs and deductions. The level and type of relief will depend on...
