What’s New

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21-09-2023
Change to Company Accounts filing

Change to Company Accounts filing

The Economic Crime and Corporate Transparency Bill has completed its initial journey through the House of Commons and the House of Lords and is now at the stage known as, consideration of amendments. This is where the second House’s amendments are … read more

21-09-2023
Activities subject to the scope of VAT

Activities subject to the scope of VAT

There are a number of conditions that must be satisfied for an activity to be within the scope of UK VAT.

An activity will fall within the scope of VAT when all the following conditions are met:

it is done for consideration;
it is a supply of … read more

21-09-2023
Tax on incentive rewards

Tax on incentive rewards

Companies may use incentive award schemes to encourage their employees in various ways. For example, to sell more of their own goods and services. The award can be in forms including cash, vouchers or other gifts.

Where an employer meets the tax … read more

21-09-2023
Utilising Capital Gains Tax losses

Utilising Capital Gains Tax losses

Usually, if you sell an asset for less than you paid for it you would make a capital loss. As a general rule, if the asset would have been liable to CGT had a gain taken place, then the loss should be an allowable deduction.

The exact treatment of … read more

21-09-2023
No gain – no loss transfers in groups of companies

No gain - no loss transfers in groups of companies

There are special rules concerning the transfer of assets in groups of companies. In most cases, this means that where assets are moved around group companies, there are no immediate capital gains consequences. This effectively allows for a tax … read more