Q1. I am an IT consultant that has just returned from Jersey where I was undertaking some work for the government. I want to raise my invoice now, but don't know whether to add VAT or not following Brexit? A: You don't need to add VAT here ...

In most cases, it doesn't make sense to simply give away money to save tax during a person's lifetime. For example, a higher rate taxpayer can claim tax relief to offset their income tax bill on qualifying donations made via the gift aid scheme. However, the cost of ...

The self-assessment system includes the right for HMRC to make enquiries to ensure the correct amount of tax is collected. However, these rights and the underlying time limits etc. are often a source of confusion. They have changed since self-assessment was introduced in the 1990s, which some taxpayers ...

Companies are able to relieve losses for tax purposes, subject to certain restrictions. These restrictions have been relaxed slightly in recent years, e.g. allowing companies to claim trading losses against other profits for future trading years. However, COVID19 has seen many businesses, including companies, closing down. It ...

COVID19 September is the final month of the furlough scheme, subject to any last-minute extension. Employers will need to top up the government's contribution, which is now 60% of wages (up to a maximum cap of £1,875) to ensure the employee receives the requisite 80% (up to £2,500). The deadline for claiming ...