All UK residents must file and pay the capital gains tax within 60 days (or 30 days if the completion date was on or after October 27, 2021) of the completion day if any UK land, including buildings, is subject to the tax. The original deadline of April 6, 2020 was extended. These clauses are… Continue reading What are the exceptions to the 60-day capital gains tax reporting and payment deadline?
A major change has occurred in UK company law with the royal assent of the Economic Crime and Corporate Transparency Act on October 26, 2023. By enacting this legislation, Companies House is given the authority to actively fight against economic crime and promote economic progress. The purpose of the amendments made by this law is… Continue reading Latest Amendments to UK Company Law
In the UK, there will be new tax regulations regarding internet platform reporting starting in 2024. Uber will need to begin obtaining all required tax information from new drivers who download the app on January 1, 2024. Uber will provide HMRC with this information regarding these drivers on January 31, 2025. Uber drivers who registered… Continue reading How will Uber share information with HMRC as per the recent changes, effective January 1, 2024?
Beginning on January 1, 2024, the UK government has stated that it intends to modify the laws governing holiday pay and annual leave. The computation of holiday pay and compensation will be affected by these modifications, especially for part-time and irregularly scheduled employees. Here are a few important things to keep in mind: Holiday Entitlement… Continue reading Holiday Pay Reforms in UK 2024: What You Need to Know
Residence status plays a crucial role in determining the tax obligations of individuals. Every country has its own set of rules and criteria to determine an individual’s tax residency. This blog aims to provide a comprehensive understanding of residence status and taxation, exploring the key concepts and factors involved. 1. What is Residence Status? Residence… Continue reading Understanding Residence Status and Taxation of Individuals
Introduction Navigating tax regulations often proves complicated, particularly in distinguishing between resident and non-resident corporations. In this article, we will look at the key distinctions in the taxation of non-resident corporations vs their resident counterparts. Businesses can handle their tax duties more successfully and make more informed decisions if they grasp these distinctions. Let’s go… Continue reading Taxation of Non-Resident Companies: An overview
Introduction The development of digital platforms has transformed how we connect, buy items, and access services. However, the difficulty of guaranteeing tax compliance for people and organizations operating on these platforms comes with this digital change. In response to this difficulty, the UK government has implemented reporting standards for digital platforms. To level the playing… Continue reading Reporting Rules for Digital Platforms (Uber, Deliveroo, Etsy, Airbnb etc): HMRC’s Update
Introduction Many fields are being quickly changed by artificial intelligence (AI), and management accounting is no exception. As AI gets better, it will likely replace some parts of standard management accounting. This will change the way businesses handle their money. This blog post talks about how AI is changing management accounting, how it might affect… Continue reading The History of Management Accounting: How AI Will Take the Place of Old Practices
Introduction Artificial Intelligence (AI) has been transforming industries across the board, and the field of accounting is no exception. The advent of AI is reshaping how financial data is managed, analyzed, and reported, leading to a significant shift in the traditional role of external accountants. In this blog, we will explore how AI is poised… Continue reading The Rise of AI in Accounting: Redefining the Role of External Accountants
Introduction If you are planning to buy a home in the UK, you may be wondering how your employment status affects your chances of getting a mortgage. You may have heard that changing jobs or starting a new job can make it harder to get approved by lenders. But is this true? And if so,… Continue reading Why Mortgage Applications Are Rejected of New Employments in the UK