A simple change to the accounting date for an unincorporated business have a dramatic impact on the amount of tax due and the date it is payable.

3 minutes

In these trying times businesses need to be certain that relief will be given for trading losses arising in periods when trading may have been interrupted by lockdown measures.

2 minutes

HMRC was sceptical of an individual’s explanation of his £300k income being derived from the tax-free pursuit of gambling activities. The tax tribunal supported his appeal against the tax assessments and provided some valuable reminders in its judgement.

3 minutes

Following enquiries by RSM, HMRC has confirmed that R&D repayment claims will not be offset against tax liabilities under COVID-19 deferral schemes. However, payments of tax that are delayed under time-to-pay agreements with HMRC remain subject to offset.

3 minutes