If your company is no longer trading and does not have any other income, you can tell HMRC that it is dormant. This will relieve you of the need to file a company tax return or pay corporation tax.

All individuals are entitled to an annual exempt amount for capital gains tax purposes. Net gains (chargeable gains less allowable losses) for the tax year are free of capital gain tax to the extent that they are covered by the annual exempt amount. For 2021/22, the annual exempt amount is set at £12,300.

Did you know that you can claim tax relief for revenue and capital expenses that were incurred in setting your business up? In this article you can learn more about pre-trading expenses. #businesstax #tadadvice

Where an employee has a company car that is available for his or her private use, they are taxed on the benefit that this provide. The taxable amount is a percentage – the appropriate percentage – of the list price of the car and optional accessories.

Cryptoassets are a relatively new type of asset that have become more prevalent in recent years. New technology has led to cryptoassets being created in a wide range of forms and for various different uses.

The sale of an individual's home is normally exempt from CGT, with neither a taxable gain nor loss arising. This is certainly the case where it has been the individual's only or main residence throughout the period it has been owned, or if owned prior to 31 March 1982, then the period since then.

VAT cannot be recovered on business entertainment expenditure. This includes the gratuitous provision to customers or clients of hotel accommodation, food and drink or tickets to events.

It is important to know whether a worker is employed or self-employed as there are many differences in the way in which they will be taxed.

It is only permissible for a company to deduct expenditure in computing its taxable profits if incurred wholly and exclusively for the purposes of the trade. Since a company is a separate legal entity that stands apart from its directors and shareholders, it will not incur personal expenses.

Most purchases carry a VAT charge. Value Added Tax (VAT) is levied on most business transactions and on many goods and some services.

The corporation tax self-assessment return (CTSA) must be submitted to HMRC along with the accounts and tax computations, although it is possible to file all this information online through the HMRC website.

The income is treated as the profits of a Property Income Business. If the owner of the property is an individual or a trust the profits are charged to income tax for the tax year to 5th April. If the owner is a company the profits are charged to corporation tax for the accounting period of the company.

The treatment of car motor expenses for VAT purposes can be quite complex.

Under the cash accounting scheme you account for VAT on the basis of payments you receive and make, rather than on invoices you issue and receive. The main benefit of this scheme is that you don't have to pay VAT on invoices you have issued until your customers pay you, although it also means you can't reclaim VAT on purchases until you pay your suppliers. You get automatic bad debt relief because, if no payment is received, no output tax is due.

With the Annual Accounting Scheme you complete one VAT return per year instead of each quarter. The advantages of using the scheme are that...

Only one VAT return is required per year and you have two months in which to complete it.

Cash flow is helped by regular monthly payments.

You can choose the VAT return year that you want.

This helpsheet provides you with an overview of the information to provide to us to enable completion of your end of year accounts.