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How does an HMRC discovery assessment work?

How do HMRC’s discovery assessments work? There is a window of time in which HMRC can begin an investigation. However HMRC has other powers to recover unpaid tax outside the enquiry window. It has the authority to issue an assessment, known as a discovery assessment, if it has good reason to believe a tax liability has […]

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The tax rules for Bitcoin

What are the tax rules for Bitcoin and other cryptocurrencies? We are often asked about the tax rules for Bitcoin and other cryptocurrencies. HMRC says that cryptocurrencies “have a unique identity and cannot be directly compared to any other form of investment activity of payment mechanism”. This means the tax position needs to be “looked […]

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Business entertainment tax rules: the mistakes to avoid

Are you making mistakes when it comes to applying business entertainment tax rules? As you (probably) know, both income and corporation tax rules block businesses from claiming a deduction from profits for expenses they incur on entertainment, such as taking customers or suppliers out for a meal. Corresponding business entertainment tax rules for directors and […]

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Tax dos and don’ts of employing casual workers

The important things to know when employing casual workers There are potential pitfalls to watch out for when employing casual workers. As an employer you probably know from experience that these days you must not only pay workers a fair wage for a fair day’s work, but provide workplace pensions, welfare and much more. You […]

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Landlords forced to improve energy ratings

Improve your portfolio’s energy ratings Do you know the energy ratings of your property portfolio? The Energy Efficiency (Private Rented Property) (England and Wales) Regulations 2015 started to be enforced from April 2018. They apply to landlords of privately rented domestic and non-domestic properties in England and Wales. The core requirement is that properties must […]

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