Capital Gains Tax (CGT) is a crucial consideration for healthcare businesses, whether you are selling a practice, disposing of assets, or restructuring your business. Understanding CGT rules can help healthcare professionals minimise tax liabilities while ensuring compliance with HMRC regulations. This article outlines key aspects of CGT relevant to healthcare businesses, including taxable gains, exemptions, […]
Under the PAYE ‘Real-Time Information’ scheme employers report to HMRC electronically before making any salary or wage payments. To ensure that the right amount of tax is deducted the employer uses the Code issued by HMRC. However, every PAYE Code Number is an estimate, since HMRC cannot guarantee the allowances or deductions included in the […]
People who want to run a business or other activity for community benefit rather than for private advantage can register either as a company limited by shares or by guarantee but most CICs are CLG. It’s best to be clear on the distinction between CIC and CLG companies, this post explains the difference. Companies limited […]
Increasing the normal minimum pension age The normal minimum pension age (NMPA) is the age at which most pension savers can access their pensions without incurring an unauthorised pension charge (unless they take their pension earlier due to ill-health). A registered pension scheme cannot normally pay any benefits to members until they reach the NMPA […]
Which Taxes are relevant for MTD? Making Tax Digital for Business is a Government initiative also known as MTD. This is a legal requirement implemented and monitored by HMRC – Her Majesty’s Revenue and Customs. Now that we know the meaning of understanding Making Tax Digital in Part 1, this is Part 2 of the […]
Budget 2021 speach has been delivered on the first of March by Chancellor Rishi Sunak. Click on the link below to read the whole speach. Budget 2021 speach
Are you sure you are not affected by IR 35 Legislation? 01 April 2021 IR35 is much ignored and confused legislation and will impact many businesses on 01 April 2021. Those businesses that provide services to a client through intermediaries must understand this. Even if you provide services directly to the client, this may impact […]
Diwali is the last day of the Hindu calendar. This year Diwali is on Sunday 15 November 2020. The next day, Monday 16 November is Hindu New Year. Diwali is a festival of light and colours. It is an auspicious Hindu festival of inspiration and hope. It reminds us of the duty of caring and […]
Restaurants face a unique range of cashflow and operational challenges. Keeping a restaurant running at its best can be difficult at the best of times, and that’s without the pressure of accounting and taxation eating away. If your restaurant is facing cashflow problems or accounting issues, such as a difficulty predicting tax, calculating VAT and […]
International investors in the UK property must consider all options when making a decision to acquire assets in real estate. They need to understand and consider several points: The decision to purchase or buy the freehold or to leasing a commercial property Be aware of, and comfortable with, the associated risks and liabilities Be aware […]