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16 May 2023

VAT: the option to tax explained

VAT: the option to tax explained

The VAT treatment of property can be challenging. Normally, supplies of land and buildings are exempt from VAT. There are some exceptions to this, the prime examples being the sale of new residential property, (zero-rated) and the freehold sale of new commercial property, less than three years old (standard-rated). But in most other cases, when

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Plastic Packaging Tax

Plastic Packaging Tax update

The Spring Budget 2023 confirmed an increase to the rate of Plastic Packaging Tax (PPT) from 1 April 2023. Where packaging falls within scope of the tax, the rate increases in line with the Consumer Price Index, becoming £210.82 per tonne, rather than £200 per tonne. The new rate applies to packaging manufactured in or

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Companies House gets major new powers

Companies House gets major new powers

The Economic Crime and Corporate Transparency Bill, currently going through parliament, impacts company directors, secretaries, and people with significant control. The move gives Companies House greater powers to check information on the companies register, and enhanced ability to work with law enforcement and other bodies tackling fraud. It’s described as the ‘biggest upgrade’ at Companies

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Crypto currency

Crypto loss?

Cryptoassets are a hot topic, but amid the plunging prices of a crypto winter, what’s the position if you make a loss? HMRC usually treats holding cryptoassets as a personal investment, rather than a financial trade. This brings activity within the capital gains tax regime. If you make a loss on your transactions, it will

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