Author: Tony Shackleford

Self Employed Tax Return Changes

Written by Tony Shackleford on May 8, 2023.

Currently self-employed individuals are taxed based on the taxable profits earned in the accounting period ending in a tax year. Hence for an individual having annual accounts prepared at the 30...

Sel employed basis period, Self employed tax

Student Loan Repayments

Written by Tony Shackleford on April 26, 2023.

Student loan repayments are payable to The Student Loan Company via HMRC. The loan repayments are collected as a deduction through a payroll scheme for employed individuals and through the...

student loan, Student Loan Repayments

Limited Liability Protection

Written by Tony Shackleford on April 14, 2023.

The Finance Act 2020 gave HMRC authority to recover unpaid company taxes from the directors of companys, where the company itself was unable to pay the taxes due. On the face of it this seems to...

limited liability, Tax evasion, veil of incorporation

Self Assessment Return Update

Written by Tony Shackleford on March 9, 2023.

For the 2021/22 tax year, there were approximately 12 million individuals who were required to submit self-assessment tax returns. The deadline for filing the returns is the 31 January. On 31...

Self assessment deadline

R&D Tax Relief – HMRC Investigations

Written by Tony Shackleford on March 3, 2023.

HMRC have issued in excess of 2,000 letters to companies who have previously claimed R&D tax relief. The letters advise the company’s to review their R&D claims as HMRC believe they...

R&D, R&D tax relief

National Insurance Contributions Top Up

Written by Tony Shackleford on February 13, 2023.

The current rules for eligibility to the basic state pension is that 35 years of National Insurance Contributions are required. To have an entitlement to any state pension, 10 years of National...

National Insurance voluntary contributions, State Basic Pension

Why Is The Government Changing The R&D Tax Relief Scheme

Written by Tony Shackleford on February 6, 2023.

The following is a quote from the UK government, which spells out why the UK R&D tax relief scheme needs to be changed. ‘The UK has one of the most generous R&D tax relief systems in...

R&D, R&D tax relief

VAT On Marshmallows

Written by Tony Shackleford on January 30, 2023.

The starting point for VAT is that sales are subject to standard rated VAT (currently 20%). However sales of food are zero rated , but sales of biscuits and confectionery are standard rated. A...

Vat

Use of Home As Office Tax Relief

Written by Tony Shackleford on September 22, 2022.

HMRC guidance currently allows those working full time from home to claim tax relief as follows: Those in employment at the rate of £4 per week. This works out at £208 per year and provides tax...

use of home

R&D Tax Relief Changes

Written by Tony Shackleford on June 6, 2022.

The environment surrounding R&D tax relief claims has been changing significantly over the last year and will continue to change significantly. There are 2 conflicting goals, which the...

R&D, R&D tax relief

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Author: Tony Shackleford