Switching to the cash basis

Many small, unincorporated businesses choose to use the ‘cash basis’ for working out taxable income. Under this method, participants will be taxed on the basis of the cash that passes through their books, rather than having to undertake complex and...

Mileage rates for electric and hybrid cars

Some confusion has been reported over how businesses should calculate mileage expenses rates for electric and hybrid company cars. This confusion has arisen largely because HMRC’s advisory fuel rates, or approved mileage allowance payments, only cover petrol and...

Summer Budget 2015

Summer Budget 2015 Summary Chancellor George Osborne has delivered the first Budget by a wholly Conservative government in almost 20 years, as the Summer Budget 2015. The previous budget provided some clues as to possible new measures and of course, the Conservative...
Avoid Penalties Regarding High Income Child Benefit Charge

Avoid Penalties Regarding High Income Child Benefit Charge

Parents on higher incomes who continued to receive Child Benefit after January 2013 have been reminded that they must register for Self Assessment by 5 October 2013 to avoid any penalties in relation to the High Income Child Benefit Charge. This month, HM Revenue and...