Associated Companies for Corporation Tax

The article is a simplified guide regarding associated companies for Corporation Tax. From 1 April 2023 the single corporation tax rate was removed and associated company rules have once again become an important factor when calculating Corporation Tax. Why are Associated Companies important? From 1 April 2023 the Corporation Tax rate will depend on the profits in an accounting period …

Restricted Securities – What is RSU Tax UK?

This article will go through some of the things to consider with Restricted Securities, also known as Restricted Share Units or Restricted Stock Units – RSUs. What are Restricted Share Units – RSUs? RSUs are shares that are awarded to an employee, whom will receive these upon meeting the restriction conditions.  They therefore form part of your remuneration package and …

Cryptocurrency Capital Gains Tax HMRC Letter

In recent years, HM Revenue and Customs (HMRC) has intensified its efforts to ensure that taxpayers report their crypto asset capital gains accurately. If you have engaged in cryptocurrency transactions and have not informed HMRC, you might soon find an HMRC letter in your mailbox. This article serves as a vital educational alert from a tax advisor to individuals engaged …

FCA Measures To Safeguard Crypto Investors

Recently, the Financial Conduct Authority (FCA) in the UK has implemented a series of measures aimed at enhancing consumer protection in the cryptocurrency market. These measures acknowledge the risks associated with cryptoassets and are designed to ensure that individuals fully comprehend these risks before investing. In this article, we will outline the key aspects of the FCA’s new regulations and …

HMRC Cryptoasset Reporting Changes from 2025

We would like to bring HMRC’s upcoming reporting changes for cryptoassets on self-assessment tax returns to your attention. From tax year 2024-25 onwards, the HMRC cryptoasset reporting changes will see taxpayers be required to separately identify amounts relating to cryptoassets on their self-assessment tax return forms. This includes all transactions involving cryptocurrencies and non-fungible tokens (NFTs). The aim of these …

What do you need to know before incorporating a Limited Company

When starting a business it is important to understand what business type you should adopt.  This article cover what a Limited Company is along with the pros and cons of being such. We will only cover the most common type of Limited Company which is a Close Company, meaning it is effectively owned and managed by its shareholders (up to …

What do you need to know as a Sole Trader

When starting a business it is important to understand what business type you should adopt.  This article covers what a Sole Trader is along with the pros and cons of being such. What is a Sole Trader? A sole trader is an individual who decides to undertake an activity with a view to make a profit.  It is important to …

HMRC Tax Enquiry Dos and Don’ts

This article will cover some of the dos and don’ts when being subjected to an HMRC tax enquiry.  If you have received an enquiry letter, do not panic.  We have helped many people who have failed to disclose something and have received a letter from HMRC. If you are reading this article as you are worried about something you have …

Keeping Accurate Cryptocurrency Records

Keeping Accurate Cryptocurrency Records Keeping accurate cryptocurrency records is a requirement of anyone due to send a self-assessment tax return to HM Revenue and Customs (HMRC). An individual must retain their records for a minimum of 22 months after the end of the tax year the tax return is for. A business must keep their records for 5 years. That …

Staking Rewards & Income Tax

Staking Rewards Staking Rewards are received by participants of the respective blockchain, as an incentive for validating a block of transactions. By staking crypto, you choose to validate transactions on the blockchain, allowing for a quicker and safer network, this in turn allows you to receive a portion of tokens back from fees or a pool as Staking Rewards. If …