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With vehicle technology improving and more choice, the tax benefits of electric cars and vehicles are increasing for drivers and business owners alike.

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Personal tax planning before the end of the tax year is important to ensure you make the most of tax reliefs and allowances. This blog offers advice on just some of the opportunities you could consider. It contains ideas affecting income and investments.

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On 17 October 2023 the EU removed the British Virgin Islands from it’s list of non-cooperative jurisdictions for tax purposes – the EU Blacklist.

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From 2024/25, restrictions to the cash basis will be removed, making it the default method for calculating trading profit for the self-employed and most partnerships.

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The transition to hybrid and home working has been difficult for many. Understanding and managing the overall impact for your business is paramount.

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The two existing research and development (R&D) tax relief schemes are set to merge, although the newly created scheme will be similar to the R&D expenditure credit currently claimed mainly by large companies.

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HMRC are continuing to crack down on suspected fraud in labour supply chains. Labour supply chain due diligence is critical to avoid being liable for unpaid taxes, National Insurance contributions, fines and penalties.

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HMRC has updated its guidance to clarify that there is no taxable benefit when an employer reimburses employees who charge their electric company cars at home. Previously, HMRC maintained that the relevant exemption did not apply.

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HMRC is moving ahead with its ‘digital by default’ ambition by pushing VAT registration to online only. Any business unable to use the online registration service will have to call HMRC’s VAT helpline to obtain a paper registration form.

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Corporation Tax rates for limited companies have changed, notably for those companies with taxable profit in excess of £50,000.

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Here’s a basic understanding of what constitutes a holding company and what needs to be considered if you want to recover VAT in a holding company.

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Many VAT-registered businesses still find VAT too complex. No surprise then that more businesses than ever are getting hit with penalties for inaccuracies.