HMRC’s guidance for taxpayers that have received overpayments of tax credits is entitled What happens if we’ve paid you too much tax credits (COP26). The guidance explains why overpayments happen and how taxpayers need to pay them back to HMRC. The leaflet includes details of the following: How HMRC can recover an overpayment; Instructions as

There are special rules to ensure that goods sent from abroad are taxed appropriately and to ensure that UK businesses supplying goods in the UK – for example by having to compete with VAT free imports – are not disadvantaged. This includes goods that are new or used and purchased online, purchased abroad and shipped to the UK and

There are two ways to consider the effects or benefits of business and personal expenditure. The payment of rates or utility costs are an essential part of our daily expenditure, but it would be difficult to view them as an investment. Whereas the cost of building a new online sales platform for your business may open

1 January 2024 – Due date for Corporation Tax due for the year ended 31 March 2023. 19 January 2024 – PAYE and NIC deductions due for month ended 5 January 2024. (If you pay your tax electronically the due date is 22 January 2024). 19 January 2024 – Filing deadline for the CIS300 monthly

The government has announced several new measures, to take effect in spring 2024, which are aimed at reducing net migration in the UK. These include: increasing the minimum salary threshold for Skilled Worker visas (excluding Health and Care Worker visas) from £26,200 to £38,700 per year (or the going rate for the role, if higher)

Most dictionaries define “bottom line” as “the most important thing to consider”. In financial circles it’s taken to mean a focus on profitability (the last line on a P&L accounts) or net worth (the bottom line of your Balance Sheet) rather than an obsession with sales (the top line on a profit statement). Sales/turnover is

In some respects, the Chancellor’s predicament is deserving of a sympathetic ear; its as if he has a long journey ahead but has one foot firmly nailed to the floor. Stagnant growth in the UK and global economy has driven up taxation in order to meet the goals set to reduce borrowing as a percentage

To be a director, you must be over 16 and not currently disqualified.  As a director your responsibilities include: filing your company’s annual accounts and reports or appoint an accountant to do it for you reporting changes in you or your company’s situation including changes of address sending a confirmation statement every year to Company’s

UK motorists will be protected at the pumps under tough new powers that will shine a light on any attempt from retailers to unfairly hike up fuel prices. Under new amendments tabled on 15 November 2023, to the Digital Markets, Competition & Consumers Bill, the CMA will become the body responsible for closely monitoring road fuel prices

Whilst insurance transactions are generally VAT exempt there are issues which can arise concerning the VAT treatment of insurance claims. Insurers are unable to recover any VAT incurred in obtaining replacement goods or having repairs carried out for a policy holder. This supply is treated as being made to the policy holder regardless of who