If you are self-employed, and obliged to submit a self-assessment tax return, you must keep your tax records for at least five years after the 31 January submission deadline of the relevant tax year. For example, if you sent your 2017-18 tax return online by…
Year: 2018
Black cabs urged to go green
Britain’s black cabs now qualify for an incentive to go green as the new tax exemption for electric taxis comes into force this month. The exemption, worth £1,550, will apply to new cabs purchased from April 2018 onwards, and follows the Autumn Budget announcement that…
Offshore tax evasion
From 1 October 2018, HMRC will be gaining access to information from tax havens that will enable it to identify UK citizens with undisclosed offshore assets, and by inference, undisclosed UK income and taxable gains. Why does this matter? It matters because HMRC has introduced…
Don’t forget to register your free place at the Yorkshire Business Market
DSC will once again be exhibiting at the Yorkshire Business Market this month. The event will take place on Monday 30th April 2018, 10am – 4pm at Pavilions of Harrogate. The market is free to attend but you must register beforehand. To book your…
We are hiring!
DSC Chartered Accountants have been supporting Yorkshire businesses for over 50 years and have recently expanded our teams in both Harrogate and Leeds. Due to our continued growth, we are now recruiting for both a senior and part qualified accountant plus a new trainee role.…
Claiming expenses by the mile
A reminder that employees can make a claim for the business use of their own cars, motorcycles or cycles by logging their business mileage and applying an approved mileage rate. Mileage allowance payments (MAPs) are the HMRC approved rates used by most employers to…
Tax and making loans to employees
A reminder that making loans to your employees or their relatives can create tax problems for employees and employers. For example, the employer will have an obligation to report a beneficial loan to HMRC and the deemed benefit would be a taxable benefit in…
Tax-free childcare support expanded
From 14 February 2018, tax-free childcare is available to all remaining eligible families: parents whose youngest child is under 12. The new scheme aims to help working parents with the cost of childcare. According to government, it is quick and easy to apply, and…
Inheritance tax in for an overhaul?
The Office for Tax Simplification (OTS) has been tasked by government to review key aspects of the inheritance tax (IHT) legislation. According to information posted to the government’s website recently, the review would appear to be wide ranging. Issues to be examined include: The…
Do you want to be more productive at work?
Come along to our next Business Development Forum and find out how to improve productivity in your workplace. The UK has one of the lowest productivity levels in the world (compared to other developed economies) yet everyone appears to be complaining about long hours…