The timetable for mandatory use of Making Tax Digital for Income Tax Self-Assessment (MTD ITSA) by existing businesses is well established. But when must you use MTD ITSA if you start a new business or create a new income stream?
Owning your company jointly with your spouse can significantly reduce your tax bill compared with owning it alone. It’s worth transferring shares as a gift to achieve this, but might a sale to your spouse be even more tax efficient?
You use HMRC’s approved benchmark rates when you pay your employees for subsistence when they travel for work. The trouble is, if you follow HMRC’s latest advice you may be costing yourself VAT. What’s the full story?