Certain types of company are not eligible to apply the small profits rate for corporation tax, regardless of their profit levels.

A new merged research and development (R&D) scheme has come into effect for periods beginning on or after 1 April 2024.

If your company undertakes research and development (R&D) you will usually benefit from generous tax relief.

Our comprehensive analysis of the Chancellor's Spring 2023 budget covers R&D tax relief, the seed enterprise investment scheme, free childcare, pension allowances, pension savings, corporation tax and capital allowances.

Programming an electronic till to suppress the recording of sales amounts to tax evasion and HMRC can impose some serious penalties on retailers who do this.

Scammers are very aware of the tax payment deadlines and will step-up their efforts to divert payments from taxpayers to their own bank accounts.

Do you remember those annoying 'claim back your PPI' adverts? Thousands of people received repayments, which included interest calculated at 8% on the PPI premiums refunded.

Your business probably pays several different taxes to HMRC: corporation tax or income tax; VAT; and PAYE all at different intervals. If the tax payment is not correctly accounted for by HMRC and set against the right tax account for your business an erroneous tax debt may arise.

If you sell a UK residential property subject to capital gains tax (CGT) you must report the gain and pay the tax within 30 days of the completion date of the deal. The report generally has to be done online through a UK property account which needs to be activated for that purpose. The reporting must be repeated in your self assessment tax return after the end of the tax year. We can help you with CGT reporting.

In the March 2021 Budget the Chancellor announced a super-deduction scheme that provides a 130% deduction for the cost of new plant or equipment if it is purchased by a company before 1.4.23. Expenditure on other new assets such as fixtures and integral features in buildings can also qualify for a 50% first year deduction if purchased before 1.4.23.

Research and development (R&D) tax reliefs can be very generous for small companies, giving a deduction of 230% of qualifying costs. However the categories of expenditure which qualify for R&D relief were defined over 20 years ago and do not include costs of a typical internet based business.

Companies can now claim 'super' capital allowances on the purchase of new machinery and plant and to a lesser extent on certain new fixtures and fittings.

If your company suffered badly under the Covid-19 pandemic you can at least claim a tax repayment where the accounts show a loss and the company made profits in earlier years.

Unincorporated businesses which draw up accounts to a date other than on or between 31 March or 5 April may need to prepare for larger than normal tax bills for 2022-23.