New powers for Companies House
The Economic Crime and Transparency Bill sets out enhanced powers for Companies House including the ability to require company directors to verify their identity and the scrapping of abridged accounts meaning all companies will have to file a profit and loss account and directors report once the new rules come in.
Losses arising from transactions involving cryptoassets
A reminder of the tax implications of dabbling in cryptoassets and the need to report both gains and losses.
Income from short term property letting
Given the increase in taxpayers letting rooms in their home or letting second homes via the likes of AirBnB, HMRC are currently writing to taxpayers who may have omitted to disclose property income.
PAYE for Employers - Time to Pay
HMRC have introduced the ability for employers to apply for time to pay arrangements via a new online facilty, subject to certain parameters.
VAT when purchasing commercial property - Option to Tax
VAT issues to be aware of when purchasing commercial property and recent changes to the Option to Tax process.
Hybrid & flexible working
Changes to flexible working rules and how to deal with flexible working requests.
A reminder of the need for company directors to stay informed and be mindful of their fiduciary duties.