Back to school – help with childcare costs
As children have returned to school, HMRC is reminding parents that they may be eligible for Tax-Free Childcare (TFC) to help pay for breakfast and after school clubs.
The TFC scheme can help parents
Deadline for notifying an option to tax (VAT) land and buildings
There are special VAT rules that allow businesses to standard rate the supply of most non-residential and commercial land and buildings (known as the option to tax). This means that subsequent
Child benefit when child turns 16
Taxpayers entitled to the child benefit should be aware that HMRC usually stop paying child benefit on the 31 August on or after a child’s 16th Birthday. Under qualifying circumstances, the child
Claiming a tax refund
If you think that you have paid too much tax to HMRC you can usually claim back any overpaid tax. The exact method for making a claim depends on a number of factors including whether or not you
Using your Personal tax accounts
HMRC’s Personal tax accounts (PTAs) were launched in 2015. The service works as an online resource to allow taxpayers to review and update their details in real time. For many routine requests and
Dividend tax increase announced
The 1,25% increase in NIC contributions from April 2022 will be mirrored by a similar increase in the tax charge on dividends. From April 2022, the dividend tax increases will apply as
National Insurance increase to fund NHS and social care
The Prime Minister announced increases in National Insurance Contributions (NIC) of 1.25% from April 2022, to contribute to increases in the NHS and social care budgets.
The increases will apply
Scope and legal basis of VAT
The scope and legal basis of how VAT is charged on taxable supplies is defined as follows in the VAT Act 1994:
VAT shall be charged on any supply of goods or services made in the United Kingdom,
Income excluded from UK property business
HMRC publishes a list of income streams that are excluded from a UK property business. The list includes fishing concerns, hotels and guest houses, tied premises, caravan sites, lodgers and tenants in
Tax treatment of incentive award schemes
Companies 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 various forms including cash,
