It has been estimated that almost £350,000 of charitable donations last year ended up in the pockets of criminals. Government recently issued advice to reduce this activity. They said: The vast majority of fundraising appeals and collections are
Most business owners will know the difference between a profit statement and a balance sheet. Both are created from a process known as double-entry bookkeeping. If asked to consider two aspects of a £50 purchase from a stationery store, most would
The deadline for submitting your 2019-20 Self-Assessment tax returns online is 31 January 2021. You should also be aware that payment of any tax due should also be made by this date. This includes the payment of any balance of Self-Assessment
The Annual Tax Summary is a document provided by HMRC that provides details on the tax you pay and how this is used by government. The Annual Tax Summary shows: your taxable income from all sources that HMRC knew about at the time that it was
The First-tier Tribunal (FTT) has dismissed a taxpayer’s appeal for having a reasonable excuse. The taxpayer applied out of time for permission to appeal against penalties imposed by HMRC. The appeal was in relation to late payment penalties imposed
The Secretary of State for Business, Energy and Industrial Strategy, Alok Sharma has written a letter to businesses in the professional services sector. The letter (available in English and Welsh) provides tailored advice on what key actions
The coronavirus VAT payment holiday gave businesses the chance to defer the payment of any VAT liabilities between 20 March 2020 and 30 June 2020. The option for businesses to defer their VAT payments ended on 30 June 2020. There are two options
Advisory fuel rates are intended to reflect actual average fuel costs and are updated quarterly. The rates can be used by employers who reimburse employees for business travel in their company cars or where employees are required to repay the cost of
