A new system that allows UK banks and building societies to scan cheques and clear them digitally rather than using the paper cheque for clearing is expected to be introduced from October 2018. The Image Clearing System (ICS) for cheques will cut
The rent-a-room scheme is a set of special rules designed to help homeowners who rent-a-room in their home within certain limits to pay no tax on the lodger’s rents. The limit increased to a generous £7,500 from 6 April 2016 and remains unchanged for
The 'badges of trade' tests whilst not conclusive are used by HMRC to help determine whether an activity is a proper economic / business activity or merely a money-making side line to a hobby. However, there is a point where careful consideration
Advance Assurance for small companies that claim Research and Development (R&D) tax relief was introduced in November 2015. This measure makes it easier for small businesses investing in research and development to claim tax relief.