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All the best,
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Thank you for getting in touch. A member from our friendly team will aim to get back to you shortly.
All the best,
The SK Accountants team
Thank you for getting in touch. A member from our friendly team will aim to get back to you shortly.
All the best,
The SK Accountants team
Almost 800,000 tax scams reported to HMRC in past 12 months, figures reveal
Nearly 800,000 tax-related scams were reported to HM Revenue & Customs (HMRC) in the past 12 months, a major study has revealed. According to the report, HMRC responded to 797,010 referrals of suspicious contact from the public in the last year. Around 358,000 of these involved scams where taxpayers were offered bogus tax rebates.
Tax Planning
Did you use a Bounce Back Loan to cover personal expenses during the pandemic? Act now to avoid tax consequences
If you received a Bounce Back Loan (BBL) during the coronavirus pandemic and took the cash as drawings, there may be additional tax consequences.
Tax Planning
Tax cut and Employment Allowance rise comes into effect
Due to the increase of the employment allowance, smaller companies will be able to claim up to £5,000 off their employer National Insurance Contributions (NICs).
Tax Planning
Be prepared if you decide to adopt a working from home policy
So, it seems sensible that both employers and members of staff take full advantage of any tax breaks or allowances available for those not in the office.
Business
Tax Planning
How to minimise Inheritance Tax bills as house prices surge
More and more people are being drawn into paying Inheritance Tax (IHT), as the price of property soars.
Tax Planning
Britons lose millions in penalty charges as they cash in LISAs
Millions of Britons facing a cost-of-living crunch have been withdrawing funds from their Lifetime ISA (LISA) accounts and getting hit with significant penalty charges.
Tax Planning
Tax credit claimants reminded of deadline as 33,600 use new app
As the deadline for renewing tax credits approaches, HM Revenue & Customs (HMRC) has revealed that 33,600 people have used their new app to renew.
Tax Planning
Back to Basics on Business Mileage
Ask anyone who either uses their vehicle for business reasons, or puts fuel in a company car, and you will soon realise business mileage can be a confusing topic.
Tax Planning
9 Tax Saving Tips for Company Directors
For those who do not want to pay more taxes than they are legally obliged to, here are some methods that the government has made available to you.
Tax Planning
Tax year basis reform: Should I change my year-end?
In the first blog of this series on tax year basis reforms, we will be discussing the new rules that will affect how unincorporated businesses are taxed from 2023/24.
Business
Tax Planning
Furnished Holiday Lets – What tax reliefs are available?
The UK has seen a boom in the ownership of Furnished Holiday Lets thanks to the increase in staycations.
Tax Planning
Back to basics: Job expenses
Expenses incurred by employees are generally the responsibility of the employer.
Tax Planning
Homebuyers make savings as stamp duty thresholds rise
For those homebuyers facing higher mortgages, changes to Stamp Duty Land Tax (SDLT), or stamp duty, announced in September’s mini-Budget will ease some of the pain.
Tax Planning
The significance of ‘One To Many’ letters from HMRC
Letters have been sent out to individuals listed as ‘Persons of Significant Control’ (PSC), urging them to check and, where necessary, correct their tax returns.
Tax Planning
More people to be caught by higher income tax bands
Nearly three-quarters of a million more people are likely to be caught by the 40 per cent income tax bracket from next April.
Tax Planning
Implementation of MTD for ITSA delayed for two years
The delayed implementation of Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) means it will now be phased in from April 2026 for a smaller number of businesses, rather than the original launch date of April 2024
Tax Planning
Don’t pay the penalty for filing late tax returns
For those who got their 2021 to 2022 Self-Assessment wrapped up before Christmas, they can enjoy the festivities. But delay too long and miss the 31 January deadline and you risk having to pay a penalty.
Business
Tax Planning
