As an employer, you can pay your employees tax-free mileage payments where they use either their own car or a company car for business journeys. However, the rates that you can pay tax-free depend on whether the car is the employeeโs own or a company car and, where the employee drives a company car, the […]
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If you are self-employed, the way in which your profits are taxed is changing. As a result of this, you only have a limited window in which to claim relief for any profits which have been taxed twice. Basis period reform For 2022/23 and earlier tax years, self-employed individuals, whether sole traders or partners in
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If you need to file a Self Assessment tax return for 2022/23, you have until midnight on 31 January 2024 in which to do this, as long as you file online. However, HMRC have been encouraging taxpayers to file their tax return early. Is this worthwhile and what are the benefits? Due a tax refund?
The sale or rental of a property is normally exempt from VAT, the main exceptions being the sale of new residential property (zero-rated) or the sale of new (less than three years old) freehold commercial property (standard-rated). Exempt transactions mean no VAT is chargeable, but it also means that the person making the supply cannot
