TAX ARTICLES

Finance & Accounting>Income Tax

Tax tip! When you buy shares over £1000 you have to pay stamp duty of 0.5% on the transaction. Want to know more? Read our blog below.

Stamp duty on share transactions Stamp duty is the oldest of our surviving taxes – dating as far back as 1694 – although the scope …

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Capital Gains Tax

Tax is always changing, and entrepreneur’s relief is no exception. The £10 million lifetime limit is to be reduced to £1m for disposals on or after 11 March 2020 – read the latest update here.

ER but not as we know it The Spring Budget 2020 announced a significant restriction on future availability of entrepreneurs’ relief (ER) for individuals who …

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Finance & Accounting>VAT

Most VAT-registered business can use the flat rate scheme if it is expected that VAT taxable turnover in the next 12 months to be £150,000 or less. Read this short blog to see if your business would benefit from switching to the FRS.

FRS for VAT – Who is it for? The VAT flat rate scheme (FRS) is used by many small businesses to help simplify their VAT …

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Finance & Accounting>Income Tax

In today’s short blog, we’ve summarised the latest information on dealing with director’s loans and the section 455 charge for 2020/21, read more below.

Dealing with directors’ loans For accounting purposes, cash transactions between a director and a personal or family company are recorded through the director’s account. At …

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Finance & Accounting>Income Tax

Most businesses have suffered due to the pandemic, but should you take the option to defer your payment on account to 31 January 2021? We weigh up the option in our latest blog.

Deferring self-assessment POA – Is it is good idea? To help those suffering cashflow difficulties as a result of the Covid-19 pandemic, the Government have …

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Finance & Accounting>Employee Expenses

Small employers can now reclaim statutory sick pay paid to employees who were absent from work due to the Coronavirus. The online claim service went live on 26 May 2020 – our latest blog covers everything you need to know about making a claim.

Reclaim SSP for Covid-19 absences Small employers can now reclaim statutory sick pay (SSP) paid to employees who were absent from work due to the …

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