Insights
Business and Accounting Information
Private rental deposits
There are special rules under the Tenancy Deposit Scheme that limits the amount of deposit that landlords in England can request. There are also further limitations on what landlords and agents can charge tenants.
If you are renting a residential
How to check a UK VAT number
The online service for checking a UK VAT number is available at: www.gov.uk/check-uk-vat-number.
This service can be used to check:
if a UK VAT registration number is valid; and
the name and address of the business the number is registered
Check employment status for tax
The Check Employment Status for Tax (CEST) tool can be used to help ascertain if a worker should be classified as employed or self-employed for tax purposes in both the private and public sectors.
The service provides HMRC’s view as to whether IR35
Finding your National Insurance number
If you have lost or forgotten your National Insurance number there are a number of ways to locate it. Firstly, you could try and locate the number on paperwork such as your tax return, payslip or P60. You can also use your personal tax account or the
Check your State Pension forecast
The enhanced Check Your State Pension forecast service is now available online. The service can be found on GOV.UK at the following webpage https://www.gov.uk/check-state-pension.
The new digital service is a joint service by HM Revenue and Customs
Are you claiming the marriage allowance
The marriage allowance can be claimed by married couples and those in a civil partnership and where a spouse or civil partner does not pay tax or does not pay tax above the basic rate threshold for Income Tax (i.e., one of the couples must currently
What is a group company structure?
A group is formed when one company has control of, owns, a number of subsidiary companies.
A group is different to an arrangement where an individual owns a number of companies personally. In this case the companies would be called associated or
Is your income over £100,000?
If you earn over £100,000 in any tax year your personal allowance is gradually reduced by £1 for every £2 of adjusted net income over £100,000 irrespective of age. This means that any taxable receipt that takes your income over £100,000 will result
Connected persons for tax purposes
The definition of a connected person for tax purposes varies.
A statutory definition of “connected persons” for Capital Gains Tax purposes is set out in Section 286 of the Taxation of Chargeable Gains Act (TCGA) 1992.
The legislation
Tax and employee share schemes
There are a number of government approved share schemes which offer various incentives to employees. The rules of the schemes vary but they are all designed to help incentivise employees by giving them the opportunity to invest in their employer’s
Tax relief for training costs
If you are self-employed it is important to know if an expense is tax allowable. Any allowable costs can be used to reduce your taxable profit.
As a general rule you can claim for items that you would normally use for less than 2 years as allowable
Post cessation transactions
Tax relief may be available for post-cessation expenses of a trade. To be an allowable post-cessation expense the trade must have ceased and the expense must have been deductible in calculating the trading profits.
This means that the expense still