Making any New Year’s Resolutions this year? It’s probably been a while since you made New Year’s resolutions. For many businesses, the challenges of the last couple of years have been enough to keep us busy, so we are not in a hurry to add more objectives to the list. But the new year is…
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Capital Gains Tax for residential properties – what you need to know When you make a gain after disposing of an asset, you’ll be aware of the need to pay Capital Gains Tax (CGT). But do you know the full rules around CGT for residential property? If you’re an individual selling your own property –…
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What is bank reconciliation – and why should you be automating this process? Good bookkeeping is all about recording and matching your financial transactions. Over the course of a usual week of trading, you’ll have a range of payments being deposited into your bank account and a host of operational expenses being withdrawn from that…
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Getting ready for HMRC’s new penalty regime Paying your tax bill on time can be a struggle. The HM Revenue & Customs’ (HMRC’s) penalty regime exists, to act as a deterrent for late payment and overdue submissions. But did you know that HMRC is planning to update and change its penalty regime? HMRC currently has…
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Virtual Staff Christmas Parties – The tax break Due to the coronavirus restrictions, many businesses will again choose not to host the usual Christmas Party for employees. HMRC have are confirm that the annual parties’ exemption will apply to the costs associated with virtual parties in the same way that it would for traditionally held…
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