Law enforcers are catching people who have violated Covid-specific schemes. This time, 179 firm managers have been prohibited by the Insolvency Service.

Firm managers that commit VAT fraud will get investigated by HMRC with a trader-controlling mission. Learn about the Kittel Principle in this article.

Recently, the First-tier Tribunal has argued whether money from property sales was trading income or capital gains and if private residence relief was due.

Did you know that if you have not used the AIA, then it could lead to a very prolonged tax relief procedure (if you have purchased any resources)?

HMRC has altered its previous assessment which consisted of six steps in order to assert as to whether an action was “business” or “non-business”.

Due to the global pandemic, work has been drastically shifted to a hybrid environment. Thereby, you and your co-workers must be working remotely, frequently. As a result of this, you may find the requirement to invest in better technology devices. The procedure might involve the firm buying the IT equipment in bulk in order to avail of a discount, and then distributing them among each employee.

HMRC has given us insight into their updated instructions and laid out the guidelines of what employers should be aware of for the financial tenure of 2021/22.

A business owner, who began her enterprise over 30 years ago, opted for a Voluntary Retirement in early 2022. Thereafter, she went on to sell her shares to the company itself.The amount calculated up to, approximate £800,000.