News – Tide Accounting

Tax Diary October/November 2024

1 October 2024 - Due date for Corporation Tax due for the year ended 31 [...]

Qualifying for Business Asset Disposal Relief

Business Asset Disposal Relief (BADR) applies to the sale of a business, shares in a [...]

Claiming Child Trust Fund cash

If you turned 18 on or after 1 September 2020, there may be cash waiting [...]

Employing under 16-year-olds and young workers

When a new employee is added to the payroll it is the employers' responsibility to [...]

Self-assessment deadlines 2023-24

The deadline for submitting paper self-assessment tax returns for the 2023-24 tax year is 31 [...]

Penalties for late filing of company accounts

There are late filing penalties which are designed to encourage companies to file their accounts [...]

Could an interest rate reduction reduce government expenditure?

A 1% reduction in the Bank Rate would reduce the UK government's annual interest charges [...]

What is the new National Wealth Fund

The UK's new National Wealth Fund (NWF) represents a significant shift in the government's approach [...]

Negative equity

Negative equity occurs when the value of an asset, typically a property, falls below the [...]

Business sectors subject to AML regulation

In the UK, certain business sectors are required to register with a regulatory body, such [...]

CGT Gift Hold-Over Relief

Gift Hold-Over Relief is a tax relief that defers the payment of Capital Gains Tax [...]

Medical and dental care for employees

There is no requirement for employers to pay tax and National Insurance on certain health [...]

Carry forward a company trading loss

There are a significant number of reliefs available to businesses that suffer losses. Certain losses [...]

Could you claim Pension Credits?

Pension Credits can provide extra income to those over State Pension age and on a [...]

Claim tax deduction for working from home

Employees who are working from home may be eligible to claim a tax deduction on [...]

Advising HMRC about additional income

There is an online tool available on GOV.UK that allows taxpayers to check if they [...]

Tips at work

Tips received at work do not count towards your earning for the purposes of the [...]

Definition of living together

There are many tax reliefs available to married couples or civil partners. In many cases, [...]

Late filing penalties VAT returns

The VAT penalty regime that applies to the late submission and / or late payments [...]

No change to Corporation Tax rates?

The Corporation Tax Main Rate applies to companies with profits exceeding £250,000 and is currently [...]

Update on High Income Child Benefit Charge

Changes to the High Income Child Benefit Charge (HICBC) came into effect on 6 April [...]

What is an appropriate address for a company?

One of the key changes introduced as part of the Economic Crime and Corporate Transparency [...]

Persistence pays off

Persistence in following up leads is a crucial trait in many fields, especially in sales [...]

Paying tax via your tax code

You may be able to have tax underpayments collected via your tax code when you [...]

What is Gift Hold-Over Relief?

Gift Hold-Over Relief defers the payment of Capital Gains Tax (CGT). It can be claimed [...]

IHT unused Residence Nil Rate Band (RNRB)

The Inheritance Tax Residence Nil Rate Band (RNRB) is a transferable allowance available to married [...]

Do you have a personal tax account?

HMRC’s Personal Tax Accounts (PTAs) serve as an online tool that enables taxpayers to view [...]

Checking employees DBS certificates

The Disclosure and Barring Service (DBS) is an executive non-departmental public body sponsored by the [...]

Check your State Pension forecast

The enhanced Check Your State Pension forecast service is available online. The service can be [...]

Guidance for charities on managing public disorder

The charity commission has offered the following guidance to charities following the recent public disorder [...]

£32m for AI projects

Companies developing artificial intelligence (AI) to improve safety on construction sites, reduce time spent repairing [...]

Don’t forget to report property gains

A higher rate of CGT applies to gains on the disposal of residential property (apart [...]

Tax relief for goodwill purchases

Goodwill is a concept frequently discussed, and yet it is seldom addressed in legislation. Typically, [...]

Corporate claims for charitable donations

When a limited company makes charitable donations specific rules apply. These may include Corporation Tax [...]

More detail on VAT charge on private school fees

More details have been published regarding Chancellor Rachel Reeves' plans to impose a VAT charge [...]

Holiday Lets – the demise of tax concessions

It was announced as part of the Spring Budget measures that the present favourable tax [...]

Pension contributions – claiming higher rate tax relief

You can usually claim tax relief on private pension contributions worth up to 100% of [...]

Road fuel costs still too high

The Competition and Markets Authority (CMA) has published an update on the widespread action it [...]

Living Wage rates to be overhauled

In a move to put more money in working people’s pockets, the government has overhauled [...]

First interest rates cut in over four years

The Bank of England’s Monetary Policy Committee (MPC) met on 1 August and in a [...]