New guidance on commuting expenses for hybrid workers You probably know that you can’t claim tax relief for the expenses associated with travelling to your usual place of work. However, what is the position if you’re a “hybrid” worker? The guidance on this has recently been updated for clarity, so what’s the answer? The rules ... Read More
Back-door company loans – is there a problem? You’re starting a new business in partnership with a colleague. If your existing business, which operates through a company, provides start-up cash in the form of a loan, are there tax consequences? Directors’ loan tax charge You’re probably aware of the tax charge that can apply if ... Read More
Guidance for merged R&D scheme published – Dunhams News Blogs Companies claiming tax relief for research and development (R&D) will need to use the new merged scheme for accounting periods starting on 1 April 2024. Guidance on the new scheme has now been published. What are the key changes? For accounting periods beginning before 1 ... Read More
Have you underclaimed your expenses? In 2022/23, HMRC sent a nudge letter to taxpayers that included a statement saying that upgrading a boiler wouldn’t be a deductible expense for tax purposes, i.e. as a deduction from rental income. It is now writing to individuals admitting that this was wrong. What action do you need to ... Read More
SPECIAL FOCUS: TAX UPDATE AND 2024 SPRING BUDGET The 2024/25 tax year is just days away. In this special Monthly Focus we look at the changes that you need to be aware of for the forthcoming year, as well as highlighting the key measures announced at the 2024 Spring Budget. Page Index – PERSONAL TAX ... Read More
MONTHLY FOCUS: CAPITAL GAINS TAX SAVINGS WITH SHARES Capital gains tax, or CGT for short, applies to gains made on the disposal of chargeable assets. There are a number of tax reliefs available that you can take advantage of when planning your investments. In this Monthly Focus, we look at some of those that apply ... Read More
Changes to Accounts The measures set out in the Economic Crime and Corporate Transparency Act will improve transparency by making more financial information available to the public. Filing accounts by software only As part of our journey to modernise and digitise our filing routes, the way you file your annual accounts with Companies House ... Read More
Changes to Companies House fees Companies House fees are increasing on 1 May 2024. Index Company incorporation and registration feesLimited liability partnershipsOverseas companiesLimited partnershipsScottish qualifying partnerships UK Economic Interest Groupings and UK SocietasOverseas entities Community interest companies What this means for you Company incorporation and registration fees Transaction Channel New fee Incorporation Digital £50 Incorporation (same ... Read More
Companies House Changes at a Glance The Economic Crime and Corporate Transparency Act will introduce a number of changes over the next few years. This page summarises everything you need to know about the new measures. Improving the quality of data on our registers From 4 March 2024, greater powers for Companies House to query ... Read More
Changes to UK company law Companies House is introduced the first set of changes under the Economic Crime and Corporate Transparency Act on 4 March 2024. The act gives Companies House the power to play a more significant role in tackling economic crime and supporting economic growth. Over time, the measures will lead to improved ... Read More
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