If you will struggle to pay your tax due in January you can apply for 'time to pay' to spread the balance over 12 monthly instalments.

Management accounting can help develop a clear picture of your monthly performance, financial year to date, performance against budget and previous years.

Why hiring an expert complete your tax return can bring significant commercial advantages

The UK tax system is due an overhaul to streamline and digitalise the administration processes.

A new online system for paying and declaring CGT within 30 days of completion for sales of residential property was introduced from 6 April 2020.

To encourage employers to keep as many employees on the payroll as possible into 2021 the Government has promised to pay a job retention bonus to employers of £1,000 per employee.

The hospitality and attractions sectors are enjoying a special 5% VAT rate which applies from 15 July 2020 to 12 January 2021.

Buying or selling a home is always stressful but the process has been made a little easier for buyers as the starting point at which stamp duty becomes payable has been temporarily raised.

If your company has made a loss in the current year you will want to report that loss to HMRC as soon as possible so that it can be set against earlier profits and generate a refund of corporation tax paid for that earlier year.

Making staff redundant is hard for any small business as employees can become as close as family.

Whether your business buys a car or a van can make a big difference to the tax relief given on the cost of the vehicle and to the tax payable by the driver who uses it for private journeys.

If you are self-employed and your business has been adversely affected by COVID-19 you may be eligible to claim a grant from HMRC of up to £7,500.

Unless you use the VAT cash accounting scheme you have to account to HMRC for the VAT you charge on sales even if the customer does not pay you.

Changes to the application of the IR35 rules (known as off-payroll working) were due to come into effect from 6 April 2020 but due to the COVID-19 pandemic those changes have been deferred until April 2021.

Subcontractors registered in the construction industry scheme (CIS) will normally have tax deducted from their invoices by the companies they work for.

Many workplaces are currently closed and employees working at home where possible to prevent the spread of COVID-19. This comes with advantages, not least avoiding the daily commute, but may also create costs for the employee such as additional power and water used whilst working.

To help businesses struggling due to the COVID-19 lockdown, local authorities have been distributing grants of £25,000 or £10,000 to certain businesses which pay business rates on properties with a rateable value of less than £51,000.

If you have paid statutory sick pay (SSP) to employees who were unable to work because they had COVID-19 symptoms, or they self-isolated because someone in their household had such symptoms, you may be eligible to reclaim that SSP.

There are three rates of VAT applicable to sales in the UK: standard 20%, reduced 5% and zero 0%.

If your business is not making sales but you are still incurring costs, HMRC may refuse to repay the input VAT on purchases and ask you to cancel your VAT registration voluntarily as there are no business activities.