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Tax Myths Debunked: Self Assessment Returns

It feels as if the tax year has hardly begun, but the self assessment paper deadline is already looming – words that strike fear into the heart of many a self-employed person! Fortunately, IBISS & Co are here to help: in this blog, we’ll debunk some of the most prevalent tax myths surrounding self assessment…Read More

How to Claim R&D Credits

As discussed in last week’s blog, ‘Can I Save Tax Through R&D Relief’, research and development reliefs can offer a huge potential saving to eligible companies. But what kind of companies qualify for R&D credits – and how can you claim? What Makes A Company Eligible to Claim R&D Credits? In the words of HMRC,…Read More

Can I Save Tax Through R&D Relief?

Research and development credits – known as R&D relief – can offer attractive tax benefits for eligible companies. In this blog, we’ll cover the different types of reliefs that are available, depending on the scale of your organisation. What is R&D Relief? R&D-related reliefs were introduced with the aim of encouraging companies to invest in…Read More

How Much Can I Gift Without Being Taxed?

The summer may nearly be over – but wedding season isn’t! Recent research shows that September is the second most popular month to get married in; meaning that you might be perusing a gift list or two in weeks to come. But if you’re considering giving a cash present, how much can you give away…Read More

Top Tax Tips for Students: Part Two

If you’re about to embark on your next educational challenge, now might be the ideal time to get your finances in order. Clarifying your position with regard to tax will save you time and stress in the long run, and could also provide a helpful boost to your student finances! If you’ve not delved into…Read More

Top Tax Tips for Students: Part One

Results Day has been and gone, meaning that many budding students will soon be heading to university. If you’re one of them, it’s likely that your mind is occupied with thoughts of freshers’ week rather than finances, but trust us: it pays (literally) to start thinking about tax sooner than later. Keep reading for some…Read More

DOTAS: Your Questions Answered

In 2004, a new piece of legislation was introduced to help HMRC identify – and eliminate – tax avoidance schemes: ‘The Disclosure of Tax Avoidance Schemes’ (DOTAS).  In this overview, IBISS & Co answer the most common questions around DOTAS, to help you get to grips with your responsibilities and work towards compliance. What is…Read More

What is IR35?

IR35 – which was introduced in 2000 – has recently been a hot topic in the news, thanks to several high-profile lawsuits. One of these was Christa Ackroyd Media Ltd v HMRC, the adjudication of which determined that the former BBC presenter Christa Ackroyd was inside of IR35 – and as such owed HMRC income tax…Read More

IFRS 16 – Is Your Business Ready?

The new leases standard – IFRS 16 – comes into effect on 1 January 2019. This change will require companies to recognise the majority of leases on their balance sheets – whether these had previously been accounted for as ‘operating’ leases or not. The new IFRS 16 requirements will have wide-ranging effects, eliminating most off-balance…Read More

VAT and Commercial Property: A Guide

When it comes to VAT and commercial property transactions, there’s a lot at stake – and there are a range of factors to consider. As such, it’s highly recommended that potential purveyors or purchasers seek advice from a qualified tax adviser without delay. This IBISS & Co blog will help you decide where to start.…Read More

Alternative Dispute Resolution: An Attractive Option for Tax Disputes

Becoming embroiled in a tax dispute with HMRC can be both time-consuming and expensive. Fortunately, HMRC have been refining their processes over the years with the aim of providing a viable alternative to litigation. Alternative dispute resolution (ADR) is now widely available, and can help individuals and businesses resolve disputes with HMRC before the matter…Read More

Inheritance Tax for Married Couples and Civil Partners

Inheritance tax (IHT) is a tax levied on a deceased person’s estate. Every person – whether married or unmarried – is entitled to an allowance on which IHT is not due: the nil-rate band (which is frozen at £325,000 until 2021). Any part of a deceased person’s estate that exceeds this threshold is likely to…Read More

Making Tax Digital for VAT: How to Prepare

Making Tax Digital (or MTD) represents one of the biggest changes that the tax industry has ever seen – and it’s coming soon. IBISS & Co are here to help you stay ahead of the curve. MTD is a government initiative that spells the end of paper accounting and aims to make it easier for…Read More

Forming a Limited Company: Taxation

In our previous blog, we explored the key considerations for setting up a limited company: how to name your company, things to think about when appointing shareholders or considering share capital, and all the information you’ll need to hand when submitting your application. In this blog, we’ll look at the tax implications for a limited…Read More

Setting up a Limited Company: Five Key Considerations

If you run your own business and are thinking of setting up a limited company, there are various reasons as to why this may prove advantageous: from potential tax savings to reduced personal liability. However, the process of forming a company can be longwinded, and there are several things to consider before you can begin.…Read More

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