Tax Relief on Job Expenses: HMRC Rule Changes

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HMRC recognises that employees might use their own money to buy things for their job or generally consume expenditure whilst working and there are tax reliefs in place for these types of expenditure, but are youa ware of the latest changes set out by HMRC? Read our latest article below to find out more..

PLANT & MACHINERY: Super capital allowances introduced from April 2021

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Capital allowances allow businesses to write off the cost of qualifying assets against taxable income, therefore reducing their tax liability. Most businesses will depreciate their assets in their accounts, but since businesses will use different rates and depreciation periods, these adjustments are not suitable for applying consistent taxation across businesses. Therefore, any depreciation adjustments businesses make are added back in before calculating taxable profit and then capital allowances are applied instead. Read our latest article below to find out the latest updates to capital allowances...

FARMERS: What effect will the Environmental Land Management Scheme have on food supply in the UK?

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There are three new Environmental Land Management Schemes: The Sustainable Farming Incentive, The Local Nature Recovery and The Landscape Recovery. These schemes have been designed to assist in achieving the goals set out in the 25 Year Environment Plan, whilst at the same time offering support to the rural economy and underpinning the commitment to be carbon neutral by 2050. Read our latest article to find out more about these schemes..

Regine changes for intangible fixed assets: transitional rules

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Most business owners are aware that an asset is something which is owned or controlled by the business. Assets are put into different categories depending on the life of the asset and whether it has a physical form. But where do intangible fixed assets sit? Read our latest article to find out more..


HMRC help with Self-Assessment late filing and late payment

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The tax authorities are not known for their leniency; however, the Covid-19 pandemic has hit the world hard and the government has introduced a number of measures to help those who might be struggling as a result. A handful of these measures relate to the filing of self-assessment tax returns and payment of the associated tax bills. Read our latest article below to find out what help is available...

The OTS Review of Capital Gains Tax

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In July 2020, the chancellor Rishi Sunak wrote to the Office for Tax Simplification (OTS) and requested that a review of the capital gains tax system be undertaken to offer advice as to how it could be simplified and to ensure it is fit for purpose. Read our latest article below to find out the results...

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