Category Archives: Uncategorized

Twists and turns When the Chancellor of the Exchequer makes a fiscal statement to Parliament – whether it is called a Budget, a mini-Budget or an Autumn Statement – the headlines are in the speech and the details are in the Treasury Red Book that is published on the internet when he sits down. In […]

From the 1st January 2023 the VAT penalty system is changing to a points based system.  There are two trigger points for this: Late filing of a VAT return, and Late payment of the VAT liability As most traders use quarterly filing then we will cover this.  Late filing of the VAT return To get […]

Dawn of a new era? In his first Budget speech as Chancellor, Kwasi Kwarteng said that ‘we need a new approach for a new era, focused on growth’. He would build this around three priorities: reforming the supply side of the economy, maintaining a responsible approach to public finances, and cutting taxes to boost growth. […]

The Government has announced that Capital Gains Tax (CGT) rules for divorcing couples will change on 6th April 2023. Currently, if a couple transfers assets between them any time after the tax year in which they separated, there may be a tax to pay. The new rules will give couples three tax years from the […]

If you have made a claim about being mis-sold aPayment Protection Insurance (PPI) policy and also received an interest payment then you may be able to get a tax refund.This is because the interest payment is paid net of basic rate tax and for a basic rate taxpayer you are allowed to earn £1,000 of […]

Having passed my AAT level 3 in January of this year, I was excited but also nervous to start my level 4 course as I knew that it would require a lot of hard work and dedication, as this level involves a lot more study hours than previous levels. I have now sat and passed […]

The Chancellor, Rishi Sunak has confirmed there will be no further help for the public and businesses as prices continue to rise.We must therefore look at all we can do to help cut our own costs and see us through this difficult time.One way is to review all the tax advantages currently in place.To start […]

Sunak springs surprises The Chancellor presented two Budgets in 2021 in which he set out a great many details of the tax rates and rules that will apply until April 2026. The 2022 Spring Statement was expected to review the economic situation and adjust forecasts, but was not supposed to include anything significant about tax. […]

If you have set up your Government Gateway account you can now ‘self-serve’ to make arrangements to pay your tax bill by instalments. The conditions for this are: You have filed your 2021 tax return What you owe is less than £30,000 You are within 60 days of the payment deadline Can pay it off […]