Child benefit for 16 to 19 year olds
The child benefit rates for the only or eldest child in a family is currently £25.60 and the weekly rate for all other children is £16.95.
Taxpayers entitled to the child benefit should be aware that
The NIC Employment Allowance
The Employment Allowance benefits eligible employers by reducing their National Insurance liability. The current allowance is £5,000. An employer can claim less than the maximum if this covers their
When you cannot use the Property or Trading Allowances
Two separate £1,000 tax allowances for property and trading income were introduced in April 2017. If you have both types of income highlighted below, then you can claim a £1,000 allowance for
Responding to a personal data breach
The Information Commissioner’s Office has a simple guide that explains what you need to do in the 72 hours following a data breach.
The seven step approach advocated is set out below:
Step one:
The new Chancellor’s first speech
The Chancellor has promised to take immediate action to fix the foundations of the economy, rebuild Britain and make every part of the country better off.
In her first speech as Chancellor, Rachel
Are mega sized marshmallows zero-rated?
In the UK most basic food stuffs are zero rated. However, the definition of ‘basic’ is not straightforward and many of the foods are zero rated as a result of historical legislation dating back to the
Business VAT responsibilities
The taxable turnover threshold that determines whether businesses should be registered for VAT is currently £85,000. Businesses with turnover below this level can also apply for a voluntary VAT
Restarting a dormant company
HMRC must be informed when a non-trading or dormant company restarts trading and becomes active for Corporation Tax purposes. Companies can use HMRC Online Services to supply the relevant information.
Company filing obligations
It is important that anyone responsible for the accounts and tax filing regime for private limited companies is aware of their obligations.
After the end of its financial year, a private limited
Inheritance and tax
As a general rule, an individual who inherits property, money or shares is not liable to pay tax on the inheritance. This is because any Inheritance Tax (IHT) due should be paid out of the deceased’s
