Ossmans

News

Reclaiming pre-trading VAT

20/06/2024

There are special rules that determine the recoverability of VAT incurred before a business registered for VAT. This

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Post cessation transactions

20/06/2024

Tax relief may be available for post-cessation expenses of a trade. To be an allowable post-cessation expense the trade

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Tax relief for training costs

20/06/2024

If you are self-employed it is important to know if an expense is tax allowable. Any allowable costs can be used to

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Tax and employee share schemes

20/06/2024

There are a number of government approved share schemes which offer various incentives to employees. The rules of the

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Connected persons for tax purposes

20/06/2024

The definition of a connected person for tax purposes varies. A statutory definition of “connected persons”

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Is your income over £100,000?

20/06/2024

If you earn over £100,000 in any tax year your personal allowance is gradually reduced by £1 for every £2 of adjusted

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Child Benefit for 16 – 19 year olds

17/06/2024

More than a million parents will receive reminders to extend Child Benefit for their teenagers if they are continuing

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Are we unpaid tax collectors?

17/06/2024

Business owners often refer to VAT as if it were a cost to their business regardless of their VAT position; whether they

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Types of HMRC enquiries

13/06/2024

HMRC can enquire into any statutory return (or amendment of that return) or statutory claim to check if the return /

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Correcting errors in VAT returns

13/06/2024

Where an error on a past VAT return is uncovered businesses have a duty to correct the error as soon as possible. As a

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Interest on children’s savings

13/06/2024

All children in the UK have their own personal allowance, currently £12,570. There are special rules if a parent gifts

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Non-resident UK property sales

13/06/2024

There are specials rules that apply to UK property sales by non-residents. Since 6 April 2020 non-residents have needed

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Self-assessment payments on account

13/06/2024

Self-assessment taxpayers are usually required to pay their income tax liabilities in three instalments each year. The

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Multiple Dwellings Relief for SDLT

13/06/2024

It was announced as part of the Spring Budget 2023 that Multiple Dwellings Relief (MDR) was being abolished. This change

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New Brooms

11/06/2024

As time passes during the present election campaign, its seems more likely that we may have a change of government from

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Falling inflation – what does it mean for you?

11/06/2024

The following notes are reproduced from a Treasury statement issued 21 May 2024. Lower inflation supports people by

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Tax Diary July/August 2024

07/06/2024

1 July 2024 - Due date for corporation tax due for the year ended 30 September 2023. 6 July 2024 - Complete and submit

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Filing your tax return early

06/06/2024

The 2023-24 tax year ended on 5 April 2024 and the new 2024-25 tax year started on 6 April 2024. Most taxpayers will be

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CONTACT US

Ossmans Limited
591 London Road
North Cheam
Surrey
SM3 9AG

Tel: 020 8330 7711
Fax: 020 8330 6226
Email: mail@bremakumars.com