Business News

Rules on directors’ tax returns are not as clear you might think

5 Jul 2017

According to the gov.uk guidance, a director must register for self-assessment (SA) and send a personal SA tax return to HM Revenue & Customs (HMRC) each year. However, this isn’t always the case. There are exemptions to this rule, one

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Opposing HMRC penalties on grounds of ‘reasonable excuse’

5 Jul 2017

Recent reports have shed light on some of the most unusual cases where self-assessment taxpayers have managed to successfully appeal late filing and late payment penalties issued by HM Revenue & Customs (HMRC). In one instance, a taxpayer named Magdalena

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The Inheritance Tax main residence additional nil-rate band

4 Jun 2017

A new additional nil-rate band of £100,000 for Inheritance Tax (IHT) on main residences, when bequeathed to a direct descendent, came into effect at the start of the new tax year in April 2017. In 2018, 2019 and 2020, this

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Software that makes you WannaCry – The importance of cyber security

1 Jun 2017

Last month more than 200,000 computers in 150 countries were infected during the WannaCry ransomware attack, including the systems of a number of NHS trusts. This cyber-attack caused mass hysteria and crippled a number of businesses and organisations – often

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The Big Squeeze – Pay and consumer spending to slow down

1 Jun 2017

With inflation hovering around 2.7 per cent, many businesses are facing a period of higher costs and reduced consumer spending – a trend which could see average pay rises this year hit just one per cent, according to the Chartered

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