There are special rules for correcting errors on VAT returns. The relevant rules depend on whether you need to:
Amend your VAT records if you discover they contain errors;
Correct errors on VAT returns you’ve already sent to HMRC;
Claim a refund
It is established practice that Christmas presents paid in cash to employees are almost invariably taxable as earnings. This view has been upheld by the courts on many occasions and can mean that a gift from a well-intentioned employer is worth less
One of the less well-known ways of paying your self-assessment tax bill is to do so through your tax code.
This can only be done where all the following apply:
you owe a self-assessment balancing payment of less than £3,000;
you are an employee
There are a number of tax reliefs available for self-employed taxpayers that make a loss carrying on their trade, profession or vocation (collectively referred to as a ‘trade’) and for their share of partnership losses.
For the 2016-17 tax year,