What is Time to Pay and can my business use it?
If a business or individual is struggling to make a tax payment because of genuine financial hardship or personal difficulties, then they may be eligible for a Time to Pay (TTP) arrangement. As we approach the Self Assessment tax return deadline, the Clayton & Brewill team discusses TTP and how it can be useful for […]
How to get tax on employment benefits right
With particularly complex rules, getting the tax on employment benefits right for directors and employees can seem like a minefield. Recent research by The Global Payroll Association showed that errors in this area are routine. Its survey revealed that 25% of employees responding had been wrongly paid: and that 11% of these errors related to […]
Keeping up to date with VAT
The world of VAT is always changing. ‘Every question answered seems to give rise to three more’, according to one expert commentator. To help keep your business up to date with VAT developments, Clayton & Brewill takes a look at some of the basic questions here. Also, in the light of a recent VAT case […]
December 2024 newsletter: the latest updates from Clayton & Brewill
Clayton & Brewill’s December 2024 newsletter is now available to view online. We are well and truly into the winter season now with many areas even seeing snowfall in the last few weeks. We hope you are enjoying the last few weeks of the year and are looking forward to 2025. In our latest newsletter, […]
2025 planning: key tax dates and deadlines
With so many dates and deadlines across the tax year, it can be easy to lose track. But missing certain deadlines could land you in hot water with HMRC. From self-assessment tax returns to ISA allowances and payment deadlines, there are several key tax dates that should play a vital role in your financial planning. […]
Why succession planning is more important than ever for farmers
The Autumn Budget 2024 left farmers across the UK feeling disappointed and uncertain about their future as it was announced that Agricultural Property Relief is going to be significantly reduced. The Clayton & Brewill team explains what these changes mean and shares some tips on how farmers can protect their futures. Agricultural property relief (APR) […]
IHT relief capped for farmers: key updates from the Budget 2024
The Autumn Budget 2024 has brought with it a wave of changes, not least the introduction of a £1m inheritance tax relief cap, which will heavily impact farming businesses across the UK. Nottingham chartered accountants, Clayton & Brewill, unpacks some of the key announcements. After weeks of speculation over potential tax increases, adjustments in debt […]
The Tipping Act: what employers need to know before the upcoming changes
The Employment (Allocation of Tips) Act 2023, often referred to as the Tipping Act, states that all tips should be passed on to workers without deductions. The Act was originally set to come into force on 1 July 2024 but has now been pushed back to 1 October 2024. The Clayton & Brewill team explains […]
Travel expenses for flexible and hybrid workers
Travel costs make up a large part of necessary expenditure for many businesses and with the continued popularity of hybrid and flexible working it is important that allowable travel expenses reflect this. HMRC has recently updated its guidance on ordinary commuting and private travel, adding a new section to clarify the rules on claiming tax […]
Why is tax investigation protection so important?
The number of tax investigations being undertaken by HMRC is significantly increasing year on year. These investigations are becoming incredibly detailed, with HMRC even using social media to help with identifying tax discrepancies. In this blog, the team at Clayton & Brewill explains why tax investigations protection is so important for businesses. What is a […]