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Is a fine tax deductible?

by Jessica Garbett | Jan 25, 2024 | ACCA, business issues, business taxation

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA Reviewing the circumstances where a fine can be tax deductible Advisers generally agree that when a penalty or fine serves the purpose of...

HMRC successful at tribunal on denying R&D tax credit

by Jessica Garbett | Jan 24, 2024 | ACCA, business taxation

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA A recent R&D tax credit appeal on going concern grounds saw HMRC’s original decision upheld In a recent case decided at the First-tier...

HMRC sets out consultation on new draft regulations for MTD

by Jessica Garbett | Jan 22, 2024 | ACCA, business taxation

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA Draft legislation and notices have been issued HMRC has set out draft legislation and notices following announcements in the Autumn Statement...

Changes to National Insurance contributions from 6 January 2024

by Jessica Garbett | Jan 17, 2024 | ACCA, business taxation, personal taxatation

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA HMRC rates tables updated As mentioned in our recent Autumn Statement Summary, class 1 NIC contributions were cut with effect from 6 January...

Self-assessment: repair or capital?

by Jessica Garbett | Jan 16, 2024 | ACCA, business taxation, capital taxation, personal taxatation, property taxation

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA A recap of what is allowable when preparing your taxes The profits of a trade are calculated in accordance with generally accepted accounting...

HMRC announces reduced support during December and January

by Jessica Garbett | Jan 15, 2024 | ACCA, business taxation, HMRC, personal taxatation

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA Support for the self-assessment helpline will be redirected to online services From 11‌‌‌ ‌‌December 2023, HMRC has made changes to...
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