The making tax digital (MTD) rules currently only apply for businesses that submit VAT returns. Those traders need to keep their VAT records in a digital format and transmit their VAT return data directly from their digital records to HMRC using MTD-compatible software.

When completing the annual expenses and benefits return (P11D) you need to know what company-provided vehicles each employee and director used in the tax year.

Ukrainian refugees are being hosted by private individuals and organisations in spare rooms and properties across the UK. The Government is providing hosts with a monthly payment of £350 per property, administered by local authorities.

It is time to report the expenses and benefits provided to employees during the year to 5 April 2022. This reporting process is known as the P11D after the number of the relevant HMRC form although these days the report is normally a function within payroll software.

It is important to keep your personal money and your company's money completely separate. If you use your company's bank card to buy personal items or to pay your own bills, that expenditure is treated as a loan to you.

The rates for national insurance contributions (NIC) increased by 1.25 percentage points for everyone on 6 April 2022. From 6 July the NIC starting threshold will rise to £12,570 per year (£1,048 per month) for employees.

The price of road fuel has increased significantly in the last few months and HMRC has responded by raising all the advisory fuel mileage rates for company cars from 1 December 2021.

All late paid tax now carries interest at 3%. Where the tax has been outstanding for more than six months a 5% surcharge on the outstanding amount may also apply.

Contract termination fees can be a bitter pill to swallow when you just want out of an expensive agreement. What's worse is that some suppliers will charge VAT on top of the cancellation fee while others will not.

In uncertain times people instinctively look for alternative ways to invest and some may choose cryptoassets such as Bitcoin and non-fungible tokens. If you decide to go digital with your investments, think about how the profit or loss you make on these assets will be taxed.

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.

The Covid-19 support grants (CJRS, SEISS and Eat Out to Help Out) are taxable and should be declared on your business' tax return. For corporation tax (CT) you must report amounts received in the accounting period covered by the return, not grants claimed for the period and paid in a later period.

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.