Thousands of UK businesses could lose out on critical Research and Development (R&D) tax relief due to new pre-registration requirements by HMRC. Companies must now register their intention to claim within six months of their financial year-end, or risk missing out on valuable tax relief, sometimes exceeding 20% of R&D spend.
Glamping pods qualified for capital allowances under the annual investment allowance (AIA) in a recent test case. This makes them even more attractive as diversification options
Business owners registered for VAT are being reminded to make sure they file their returns and pay on time or face falling foul of new penalties introduced by HMRC.
HMRC has confirmed the mandation dates for making tax digital for income tax self assessment (MTD ITSA) as announced in the Autumn Statement 2023.
HMRC has updated the advisory fuel rates for employees reclaiming business travel in company vehicles.
The zero rate of VAT has been extended to include the installation of additional energy-saving materials (ESMs) from 1 February 2024.