Accounting services in Abingdon, Oxford and across all UK

Termination payments

The tax treatment of termination payments has changed significantly over recent years. The changes have aligned the rules for tax and secondary National Insurance contributions (employer (NICs)) by

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Bona Vacantia – dissolved companies

The final step in bringing a company to a legal end is dissolution. However, one if the important points to consider when doing so is that the dissolved company can no longer do or receive anything

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Using the Customs Declaration Service

The Customs Declaration Service (CDS) is a new customs IT platform that has been designed to modernise the process for completing customs declarations for businesses that import or export goods from

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Tax Diary September/October 2022

1 September 2022 – Due date for Corporation Tax due for the year ended 30 November 2021.

19 September 2022 – PAYE and NIC deductions due for month ended 5 September 2022. (If you pay your tax

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Miscellaneous income

There are special rules known as the miscellaneous income sweep-up provisions that seek to charge tax on certain income. This unusual provision, which is broad in scope, catches income that would not

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Using the Annual Investment Allowance

The Annual Investment Allowance (AIA) is a generous tax relief that was first introduced in 2008. The AIA allows for the total amount of qualifying expenditure on plant and machinery to be deducted

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Scope of Trade

There is no statutory definition of ‘trade’. The only statutory reference to the term is that ‘trade’ includes a ‘venture in the nature of trade’. This absence of a formal definition decides if an

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