Income tax basis periods reform

Income tax basis periods reform

In the 2021 Budget. proposals to reform the income tax basis periods were confirmed.  The intention was to help with the introduction of Making Tax Digital for Income Tax Self Assessment (MTD ITSA). This will affect all business who have accounting periods that do not...
Christmas Gifts to Staff

Christmas Gifts to Staff

Many firms will provide a Christmas bonus to staff. Often this will be in cash which will be taxable and will normally be processed through the payroll. However, small, low value gifts of goods to employees will normally be tax free if they fall within the trivial...