We all have one, it is the corner stone of your pay slip, and it dictates what deductions are taken from your hard earned salary – we refer, of course, to your tax code. But do you know exactly what your tax code means, or do you simply take it for granted that it’ll do

Tax Planning for Residential Landlords Planning to take advantage of low interest rates? After a challenging year for the UK’s residential landlords, you might have read about improvements to the buy-to-let mortgage market in recent weeks. In the three months to 31 May 2021, the average interest rates for residential landlords had declined. A two-year

The Pros & Cons of a Company Electric Car  Should employers shift towards greener vehicles? Despite the potentially high personal tax charge, many employees still enjoy and prefer the convenience of being offered the use of a company car by their employer.  Those employers familiar with the benefit-in-kind tax rules will be aware the tax

UK Tax Incentive ‘Fails to Deliver Extra R&D Spending’ The UK’s research and development (R&D) tax credit system is failing to prompt companies to increase spending and could prove a “costly failure”, a report claims.  The Centre for Business Research (CBR) said aggregate business expenditure on R&D in the UK is as much as 15%

OTS Considers Bringing the End of the Tax Year Forward The Office of Tax Simplification (OTS) is to explore changing the end of the tax year from 5 April to either 31 March or the end of the calendar year. The OTS published a document last month setting out the scope of a review into

Sweeping VAT Reforms in the EU will Affect the UK’s Online Retailers Retailers that heavily rely on online sales to EU consumers need to comply with VAT reforms, which were introduced on 1 July 2021. The new rules were originally designed to stop an estimated €7 billion in annual VAT fraud by non-EU ecommerce sellers,