Inspire Financial Management

Best viewed on a device with a bigger screen...
Tel: 0191 487 7074

Articles.

Improving cash flow to help pay corporation tax bill

Last year's high profit led to a large tax bill. A current year loss leaves funds short. Would changing the accounting date help?

Read more

Guidance for merged R&D scheme published

Companies claiming tax relief for R&D will need to use the new merged scheme for accounting periods starting on 1 April 2024. What are the key changes?

Read more

Have you underclaimed your expenses?

HMRC stated that upgrading a boiler wouldn't be a deductible expense for tax purposes. It is now admitting that this was wrong. What action do you need to take?

Read more

IHT exemptions - when and how to use them

Naturally, you want to keep as much of your estate as possible from HMRC's coffers. What simple steps can you take to achieve this?

Read more

Make your mortgage interest tax deductible

Is it possible to get tax relief for your mortgage interest?

Read more

Leasing cars - what are the VAT pros and cons?

You're leasing instead of purchasing cars for your business. This allows you to reclaim VAT that you would not otherwise be entitled to. Is this correct?

Read more

HMRC U-turn on helpline closures

HMRC announced that it would be scaling back its tax helplines. It has now seemingly reversed the decision. What's going on?

Read more

Company closure - what happens to shareholder loans?

You've closed a subsidiary of your main company but your loan account with the subsidiary company is in the red by nearly £20,000. What are the implications?

Read more

Revised guidance causing problems for LLP members

The guidance relating to the salaried member rules where capital contributions are made has been updated.

Read more

Threshold tax and benefit traps on families

There are genuine cliff-edge income thresholds that result in unfair tax charges. What are they and how can you avoid them?

Read more

New MTD Trial Launches Soon

HMRC's MTD for Income Tax Self-Assessment (MTD ITSA) pilot has been a disaster. Should you consider signing up?

Read more

Budget delivers on most predictions

The Chancellor delivered his Spring Budget yesterday, with several announcements affecting individual taxpayers. What were the highlights?

Read more

Advisory fuel rates from 1 March 2024 published

The approved amount that employers can reimburse staff for business travel in company cars changes from 1 March 2024. What are the new rates?

Read more

Are you ready for cash basis by default?

The cash basis is being simplified and will become the default basis of accounts preparation from 6 April 2024. What are the implications?

Read more

CGT allowance cut: options

On 6 April 2024, the capital gains tax (CGT) annual exempt amount will be halved to just £3,000. What can clients do ahead of this to save tax?

Read more

Pressure builds on cryptoasset owners

HMRC is stepping up investigations relating to cryptoassets. If you own Bitcoin assets, should you be worried?

Read more

Reforms to tax treatment of alternative finance products proposed

Govt addressing tax differences in alternative finance. How to participate?

Read more

Taxpayer successfully argues against "deliberate behaviour" penalty

HMRC penalties: Pay more for knowingly understating tax. One taxpayer's successful argument.

Read more

How to provide staff uniforms tax efficiently

Considering direct provision of clothing for tax efficiency. Is this advisable?

Read more

P11D filing to end

HMRC is scrapping the use of Form P11D to report benefits in kind from 2026. How will you need to account for tax and NI due after this?

Read more

Access Key Enabled Navigation
Keywords for: Articles

inspire financial management, financial management, accountant, accounting, gateshead, stockton on tees