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There is a widespread belief that every UK company director has to file a tax return. Indeed, the Government's own website suggests that being a company director alone means you should register for self-assessment and file a tax return annually. However,...

If your business issues vouchers, you should be aware that the VAT regime will change significantly on 1 January 2019. From that time, the VAT treatment of a voucher will depend on whether it is a 'single purpose' voucher or a 'multi-purpose' voucher. A...

It is fair to say that HM Revenue and Customs (HMRC) take a hard line when it comes to non-payment or late payment of taxes due. Unless the taxpayer can show a 'reasonable excuse' (which in practical terms means a really compelling reason) for the delay,...

One of the motivations for setting up a limited company is that the risk for the shareholders is limited to the investment they have made in the company's shares. A quietly launched consultation document issued by HM Revenue and Customs (HMRC), which...

Unless they can show that they would suffer hardship as a result, traders who wish to challenge assessments to VAT are first required to pay, or at least deposit, the tax demanded before they can mount an appeal. That requirement has long been highly...

Tax changes that affect residential landlords have sparked a massive sell-off, with 133,000 rental properties likely to be sold in the next year according to a survey by the Residential Landlords Association. In the year ended 31 March 2017, 46,000 let...

Collecting debts is often a long and arduous process, but the use of bankruptcy proceedings can be an effective means of bringing matters to a head. That was certainly so in one case in which a businessman tried, but failed, to avoid bankruptcy in respect of...

There are all sorts of things one can do with trading losses under Corporation Tax (CT), but the fall-back position is that losses can be carried forward and set against the next available profits 'of the same trade'. That sounds very simple...and...

The additional rate of Stamp Duty Land Tax (SDLT) is payable on purchases of 'additional dwellings' such as buy-to-let properties. A recent case dealt with the SDLT implications of the 2015 purchase of a house which the purchaser (a company) intended to...

The rules governing the taxation of termination payments have been tightened with effect from 6 April 2018 by means of legislation to amend Chapter 3, Part 6 of the Income Tax (Earnings and Pensions) Act 2003 . Hitherto, where the employee's contract of...