UK Infrastructure Bank set-up
The UK Infrastructure Bank Bill, announced as part of the measures in the Queen’s speech, represents the final step in setting up the UK Infrastructure Bank as an operationally independent institution. The new Bank officially opened for business in June 2021 but the Bill will remove legal obstacles
Access to cash protection increased
The new Financial Services and Markets Bill, announced as part of the Queen’s speech, will provide increased protections for those still dealing with cash. Access to cash remains vital for many people across the UK, including the more vulnerable in society. The government has committed to preserving
Tax benefits of switching to electric cars
There are many benefits to encourage the use of electric cars including lower running costs, the environmental advantages and reduced noise pollution. There are also tax benefits to encourage the purchase of electric cars.
We have listed some of these benefits below.
The benefit-in-kind (BIK) due
Accountancy expenses arising out of an enquiry
HMRC’s internal manual offer some revealing insights as to the treatment of accountancy expenses arising out of an enquiry. As a matter of course, HMRC allows companies to claim a tax deduction for normal accountancy expenses incurred in preparing accounts or accounts information and in assisting
Get help with childcare costs for Easter
As the Easter holiday approaches, HMRC is reminding parents that they may be eligible for Tax-Free Childcare (TFC) to help pay for regulated childcare, including holiday clubs and other out-of-school activities.
The TFC scheme can help parents of children aged up to 11 years old (17 for those with
Rural pubs community funding
The Department for Levelling Up, Housing and Communities has published the list of successful bidders from the reopening of the first round of the Community Ownership Funding. This brings the total level of funding in the first round to almost £8m. Thus, helping communities across the UK take
Scammers target Self-Assessment taxpayers
Fraudsters are continuing to target taxpayers with scam emails, texts and calls following the deadline for submission of Self-Assessment returns for 2020-21. In fact, over the last year, HMRC received more than 570,000 reports about suspicious HMRC contacts.
A number of these scams purport to
Transferring assets during separation and divorce
When a couple separate or divorce it is unlikely that they are thinking about any tax implications. However, apart from the emotional stress, there are also tax issues that can have significant implications.
For example, when a couple are together there is no Capital Gains Tax (CGT) payable on
Latest on COVID restrictions in England
The government has published its latest guidance on COVID restrictions and specifically on the new phase we have entered of ‘Living with COVID-19’. This has effectively moved the country into a new phase of living with COVID and marked the end of legal restrictions in England (since 24 February).
Challenging your council tax band
The Valuation Office Agency (VOA) is a government body in England and Wales and an executive agency of HMRC. The Agency values properties for the purpose of Council Tax and for non-domestic rates in England and Wales. The council tax bands were set on 1 April 1991 for England and on 1 April 2003 for