Most shares issued by companies are ordinary shares, but they are just one of the different types of shares available. Preference shares, sometimes also called ‘preferred shares’ or just ‘prefs’, can also be useful both to investors and the companies issuing them. In this article, we look at the core features of preference shares, additional components…Read More
Self-assessment taypayers are wary of receiving letters about random checks to their tax status, finds the latest HMRC research into communications with the public They described the prospect of being personally selected for a check as daunting and worried about the consequences of potential mistakes being uncovered, according to the latest HMRC qualitative research into…Read More
Creative industry tax reliefs are a group of corporation tax reliefs that allow qualifying companies to claim a larger deduction, or in some circumstances claim a payable tax credit when calculating their taxable profits. The reliefs work by increasing the amount of allowable expenditure, which may be surrendered in exchange for a payable tax credit…Read More
In April 2020, the UK updated its rules on the reporting of Capital Gains Tax on the sale of UK residential property. Here is a quick guide to these updated rules as they apply to individuals. CGT reporting is different for residents and non-residents If you are not a UK resident then you must report…Read More
Capital allowance is one of the most misunderstood areas of business taxation in the UK. As a result, many businesses don’t claim back what they are entitled to, leaving a considerable amount of tax relief on the table. What is Capital Allowance? In the UK tax system, a capital allowance can be claimed against taxable…Read More
There is a lot of confusion and misinformation circulating about the taxation of cryptocurrency in the UK. Many people assume it is outside the scope of general taxation as it has more in common with gambling or having winning numbers on the lottery. Within the UK taxation system, this is not the case. In March…Read More
Research and Development (R&D) relief is offered by the government to support businesses that work on innovative projects in the field of science and technology. A wide range of businesses can claim this tax relief so that they can develop or research a particular advance within their field. You can even make a claim if…Read More
When you are looking for an accounting company, you may notice that some businesses are labelled as chartered accounting firms and some are not. Understanding the difference between the two is important. This will help you to make sure that you benefit from the best possible service when hiring an accountant, whether for your personal…Read More
These days, it’s straightforward to launch a limited company. You can ask an accountant to register a limited company on your behalf, use an intermediary that offers incorporation services, or register it yourself directly from Companies House. Of course, running a limited company and dealing with the accounts is another matter. As you can imagine,…Read More
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