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What is an interest in possession trust?

From an Income Tax perspective, an interest in possession trust is one where the beneficiary of a trust has an immediate and automatic right to the […]

Getting ready for making tax digital

Accountant & Bookkeeper Guides Starting as soon as 2019, UK businesses will have to start transitioning to a digital tax system – where tax is filed […]

Inheritance Tax-Inheritance Tax reduced rate calculator

You may qualify to pay Inheritance Tax at a reduced rate of 36% if you leave at least 10% of your net estate to charity. Use this […]

Income Tax-Calculate tax on employees’ company cars

As an employer, if you provide company cars or fuel for your employees’ private use, you’ll need to work out the taxable value so you can […]

VAT-VAT Returns

Overview You usually submit a VAT Return to HM Revenue and Customs (HMRC) every 3 months. This period of time is known as your ‘accounting period.’ The VAT Return records […]

Self Assessment-Business records if you’re self-employed

Overview You must keep records of your business income and expenses for your tax return if you’re self-employed as a: sole trader partner in a business partnership You’ll also need […]