Blog

Tax when selling your home


June 20th, 2024

According to HMRC, you would normally have to pay Capital Gains Tax (CGT) on any gain you make if you dispose of: a dwelling house (which can include a house, flat, houseboat or fixed caravan) which is your home; part of a dwelling house which is your home; or part of the garden attached to […]


Gender Pay Gap Reporting obligations


June 18th, 2024

The full details of which organisations are required to report on gender pay gap data are published by the Government Equalities Office. The latest statutory guidance was updated 9 January 2024. An abstract of the definitions of who needs to report is set out in statutory guidance at https://www.gov.uk/government/publications/gender-pay-gap-reporting-guidance-for-employers/who-needs-to-report. The opening summary is reproduced below: […]


Competitive disadvantages


June 13th, 2024

The new Economic Crime and Corporate Transparency Act mandates that small companies and micro-entities will have to file at Companies House accounts, that for the first time, will need to include a profit and loss account. Apparently, there is concern that a registered, smaller concern has not previously been required to file reports that disclose […]


Providing living accommodation to employees


June 11th, 2024

If you provide free accommodation to employees the deemed benefit is taxable, and you will have to pay Class 1A NIC based on the value of the benefit provided. What’s exempt? You will not have to report the cost to HMRC if any of the following apply: If it is domestic or personal. Accommodation is […]


Consumers have new online protection


June 6th, 2024

The Digital Markets, Competition and Consumers Act has become law after receiving Royal Assent. The Act paves the way to give consumers rights across the UK, with greater control and clarity over online purchases. It does this by requiring businesses to provide clearer information to consumers before they enter a subscription contract, remind consumers that […]


Out of interest


June 5th, 2024

Usury is defined as the practice of making loans that are unfairly enriching the lender. And we must take comfort that most lenders in the UK are limited by legislation to keep rates charged at a reasonable level; unless, of course, you are a loan shark.   Banks are the biggest lenders, and you may […]


Tax Diary June/July 2024


June 4th, 2024

1 June 2024 – Due date for corporation tax due for the year ended 31 August 2023. 19 June 2024 – PAYE and NIC deductions due for month ended 5 June 2024. (If you pay your tax electronically the due date is 22 June 2024). 19 June 2024 – Filing deadline for the CIS300 monthly […]


Changes to Companies House fees


June 4th, 2024

There have been a number of significant changes in Companies House fees. These changes took effect on 1 May 2024. The last significant change in fees occurred in April 2016. The new fees have been calculated on a ‘cost recovery’ basis meaning that the fees are calculated based on what it costs to provide the […]


Register an overseas company


June 4th, 2024

An overseas company must register with Companies House if they want to set up a place of business in the UK. This would mean that the overseas company has a physical presence in the UK through which it carries on business. If an overseas company does not have a physical presence in the UK, they […]


Time to renew tax credits


June 4th, 2024

HMRC is currently sending the annual tax credit renewal packs to the 730,000 tax credit claimants and is encouraging recipients to renew their tax credits claim online. HMRC started writing to taxpayers on 2 May and expects all packs to be with recipients by the 19 June 2024. Renewal packs with a black stripe across […]