When an individual dies everything they own is valued to calculate the inheritance tax (IHT) due on their estate. These assets include the deceased's main home and any let properties they may own.

As we are now at the 'living with Covid-19' stage of the pandemic the Government has decided to close the Covid-19-related statutory sick pay (SSP) rebate scheme on 17 March 2022.

The hospitality and tourist sectors have been supported through the Covid-19 pandemic by being able to pay a reduced amount of VAT to HMRC in respect of most sales. The reduced VAT rate was 5% from 15 July 2020 to 30 September 2021 and 12.5% from 1 October 2021 to 31 March 2022.

For VAT periods starting on and after 1 April 2022 all VAT records must be recorded digitally and returns must be submitted under the Making Tax Digital (MTD) regime. If you are not already submitting your VAT returns using MTD-enabled software (or asking us to do so) you need to take action.

Personal tax rates have been held steady for a few years, so it made no difference whether you extracted funds from your company in one tax year or the next.

HMRC are now actively pursuing incorrect and fraudulent grant claims made under the coronavirus job retention scheme (CJRS) for wages of furloughed employees.

The self-employed income support scheme (SEISS) grants were welcomed when they were distributed during the Covid-19 pandemic. Each recipient had to meet three conditions:

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.

The fuel crisis last September has encouraged many people to consider buying an electric car.

Currently if you pay your VAT bill late you may receive a penalty of up to 15% of the late paid amount, even for a one-day delay. The Government agrees that this is harsh, so it is reforming the late-payment penalties for VAT periods starting on or after 1 April 2022.

Making a charitable donation in place of physical Christmas gifts is a worthy tradition in some families. This means that fewer unwanted items need to be quietly disposed of and as an added benefit the giver and the charity can both claim tax relief in the form of Gift Aid.

The UK tax system is under attack from fraudsters who attempt to register numerous people for self assessment then submit false repayment claims.

Filing VAT returns using making tax digital (MTD)-compatible software will be compulsory for all VAT registered traders for periods beginning on or after 1 April 2022 unless HMRC agrees that the taxpayer is exempt.

Making tax digital for income tax self assessment (MTD ITSA) will replace the self assessment tax return for unincorporated businesses from April 2024 for sole traders and from April 2025 for most partnerships.

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.