Cryptocurrency: the future for payments?

3 minutes to read The Treasury recently announced that it intends to recognise stablecoins as a valid form of payment as part of wider government plans to ‘make Britain a global hub for cryptoasset technology and investment’. Here, we consider cryptoassets in greater detail.  Outlining cryptocurrencies  The government defines cryptoassets as ‘cryptographically secured digital representations of value or contractual …

Holiday pay on tap: what you need to know about the Pimlico Plumbers

2 minutes to read Employment status and employment rights are knotty issues.  The employment status and associated rights of the workforce of Pimlico Plumbers Ltd have been battled out at the highest judicial levels for years. There is now another verdict. What is the takeaway message if you run a business with a labour force that doesn’t fit the …

Spring Statement Update

4 minutes to read Just over five years ago saw the introduction of the Spring Statements with the narrative that ‘The Chancellor will not make significant tax or spending announcements at the Spring Statement, unless the economic circumstances require it.’ Given the current economic circumstances it is therefore not surprising that the 2022 Spring Statement included some significant announcements. …

Thinking of Selling a Property? What you need to know – Capital Gains Tax!

3 minutes to read If you sell or dispose of a property and make a profit on the sale, a “capital gain” will arise and you may have to pay Capital Gains Tax (CGT). The capital gain is calculated after taking the proceeds of sale and deducting the costs of acquisition and any enhancements costs, as well as incidental …

Making Tax Digital for Self-Assessment

4 minutes to read The Government have once again extended the deadline for Making Tax Digital for Income Tax Self Assessment (MTD ITSA). Following the Government announcement and publication of a new Statutory Instrument on 23 September 2021, further details of the new digital tax administration system have been released including who is affected and how this new system …