The taxable turnover threshold that determines whether businesses should be registered for VAT is currently £85,000. The taxable turnover threshold that determines whether businesses can apply for deregistration is £83,000.

Businesses are required

We wanted to remind you of the Inheritance Tax (IHT) implications of making cash gifts during the current 2023-24 tax year that will end on 5 April 2024.

You can give away up to £3,000 worth of gifts each tax year. This is known as your annual

If you earn over £100,000 in any tax year your personal allowance is gradually reduced by £1 for every £2 of adjusted net income over £100,000 irrespective of age. This means that any taxable receipt that takes your income over £100,000 will result

The Chancellor of the Exchequer, Jeremy Hunt has confirmed that the next UK Budget will take place on Wednesday, 6 March 2024. This will be the Chancellor’s second Budget and will include the government’s tax and spending plans as well as new growth

If using the VAT Flat Rate scheme, businesses pay VAT as a fixed percentage of their VAT inclusive turnover. The actual percentage used depends on the type of business. The scheme has been designed to simplify the way a business accounts for VAT and

Scotland’s Deputy First Minister and Finance Secretary, Shona Robison delivered her first Budget statement to the Scottish parliament on 19 December 2023.

The Finance Secretary said that the ‘Managing the cumulative impacts of the UK Government’s

The Welsh draft Budget for 2024-25 was published on 19 December 2023. The Budget sets out the Welsh government’s revenue and capital spending proposals, including detailed portfolio spending plans.

There have been no changes announced to the Welsh

If your employer has reimbursed you in full for any work related expenses you will obviously be unable to make a claim for tax relief for those same expenses.

But if you have only received part of your expenses or none at all, then you can make a

The government Valuation Office Agency have issued the following warning to business owners who may have received unprompted approaches by an agent offering to negotiate a reduction in their business rates bill.

The Valuation Office Agency (VOA) is