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HMRC investigations

What to expect when the Revenue comes knocking. Anyone whose business comes under the Revenue’s microscope is usually in for a roller-coaster ride. HMRC has upped its game in recent years when it comes to probing businesses or sole traders

Giving to charity in life and death

How to include charitable donations in your tax planning strategy. Incorporating charitable giving into your tax planning strategy can be a useful way to reduce both your income tax and the inheritance tax (IHT) that will eventually become payable on

Autumn Budget 2017 round-up

A range of measures designed to boost business and productivity were announced in Autumn Budget 2017. Amid a background of discontent surrounding business rates, chancellor Philip Hammond revealed future increases will be determined by the Consumer Prices Index measure of

Online self-assessment

How to complete your self-assessment tax return online. For self-employed people, company directors and those receiving other sources of income, it’s the time of the year to send your self-assessment tax return. Self-assessment is the process used by HMRC to

Accounts for limited companies

Audits may be a thing of the past, but certain annual reports still apply. If you’re a business owner, you may be familiar with the process of submitting your accounts for official inspection by an independent body. This is known

Autumn Budget 2017

AutumnBudget2017 – Click to download this article as pdf file. Chancellor Philip Hammond said he’d take a “balanced approach” to his second Budget of 2017. Once again the speech was light on headline-grabbing finance changes and there were no ‘giveaways’ or

Sole traders exposed to cash crises

Nearly half (41%) of self-employed people struggle to save any money each month, leaving them exposed to financial problems. Insurer LV= surveyed 9,495 self-employed workers and found one in three could not survive for more than three months if they

VAT and three-party transactions

A guide to the VAT implications of having three entities involved in a transaction. VAT can get very complicated when there are three parties involved in a transaction. This may happen in an agency situation where one party is arranging

Paper tax return deadline reminder

The deadline to submit your self-assessment paper tax return for the 2016/17 tax year is 31 October 2017. All income received during the tax year running from 6 April to 5 April must be accounted for in your tax return.

Businesses urged to prepare for Data Protection Bill

Individuals will be able to legally ask businesses to delete certain personal data under new proposals outlined in the Data Protection Bill. The Bill forms part of the EU’s General Data Protection Regulation (GDPR), which is due to come into

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