Two October self-assessment deadlines
The deadline for submitting paper self-assessment tax returns for the 2023-24 tax year is 31 October 2024. Late submission of a self-assessment return will generate a £100 late
Not so Trivial Tax Benefits
There is a trivial benefit-in-kind (BiK) exemption for small, non-cash employee benefits. This exemption applies to BiKs classified as 'trivial,' helping employers simplify the
Is there a partnership in place?
A partnership is a reasonably straightforward way for two or more legal persons to establish and operate a business with the intent to make a profit. Partnerships can take various
Trade Mark protection
To apply for trademark protection in the UK, you will need to follow these steps:
Check if Your Trademark is Eligible
Ensure your trademark is unique and not too similar to
What is a PSC?
PSC stands for Person with Significant Control. It is a legal term used primarily in the United Kingdom under company law. A PSC is someone who holds significant influence or
Claims to reduce payments on account
Self-assessment taxpayers are usually required to pay their Income Tax liabilities in three instalments each year. The first two payments are due on 31 January during the tax year
Myths about self-assessment
In a recent press release, HMRC addressed some common misconceptions about who needs to file a self-assessment return before the 31 January 2025 deadline and clarifies some of the
MTD for Income Tax draws closer
The mandatory rollout of Making Tax Digital for Income Tax (MTD for ITSA) is scheduled to begin in April 2026. The process will significantly adjust how businesses, self-employed
Employing an apprentice
There are special rules to observe when employing an apprentice in the UK. Basically, an apprentice takes part in a structured training program that combines working with studying.
When dividends cannot be paid
There is a basic principle that dividends or other distributions must not be paid out of capital even if the Articles of a company authorise such a payment. For the purposes of
Higher rates of SDLT on residential property
The higher rates of Stamp Duty Land Tax (SDLT) were introduced on 1 April 2016 and apply to purchases of additional residential property such as buy to let properties and second
Beware overtrading
Overtrading occurs when a business expands its operations at a pace that exceeds its available working capital and financial resources. This can happen when a company takes on more