Tax Insights
Cryptocurrency tax services
  • 19
  • Jan
Crypto Tax – An Opportunity for Accountants in the Digital Era

Cryptocurrencies are building themselves a niche within the accounting world. A growing number of traders now seek the help of accountants for crypto tax calculations and record-keeping. But the question remains, should accountants dive into this growing market?   Regardless of your opinion on cryptocurrencies, there is no escaping the fact that they are becoming…

Tax burdens
  • 20
  • Dec
Businesses urge Chancellor to reverse £12 billion jump in tax burden

More than a few clients of our tax compliance services at TS Partners are likely to be doing the sums right now on what their obligations to the Treasury will be in the months and years immediately ahead.  The results of those calculations might not make pretty reading for many. This, in turn, makes it…

Crypto Tax
  • 17
  • Dec
The Best Crypto Tax Calculators for UK traders

With HMRC cracking down on taxing cryptocurrencies, it’s time to discover the tools that will make life easier for you when declaring crypto tax. Crypto taxes are taxed depending on the level of activity. The most common form of taxation is Capital Gains Tax (CGT); however, if you conduct high levels of activity, similar to…

Research & develop great ideas
  • 15
  • Dec
The difference between SME and RDEC R&D Tax Credit Schemes

Choosing a suitable government R&D tax credit scheme can be a minefield. TS Partners is here to clear up the differences between SME and RDEC. The main difference between both schemes is the size of your company. The SME R&D tax credit scheme is for, as the name suggests, small and medium-sized enterprises. In comparison,…

Crypto Tax
  • 10
  • Dec
A Brief Guide to Crypto Tax in the UK

Cryptocurrencies are becoming more and more popular. However, many crypto traders are unsure how HMRC taxes cryptocurrencies. As cryptos rise in popularity, more people begin to trade and use these digital currencies. However, not many people know how the HMRC taxes cryptocurrencies. One of the most prominent myths surrounding taxes on cryptocurrency is that they…

  • 14
  • Apr
Parliamentary group urges amendment to ‘flawed’ IR35 rules

This month has seen long-anticipated new off-payroll working rules take effect, after a year of coronavirus-related delays. The reform, which kicked in from 6th April, is aimed at helping HM Revenue & Customs to assess whether a contractor is genuine or essentially being used as a “disguised employee” for tax purposes.  The Government has argued…

  • 23
  • Mar
Sunak ‘awaiting US stance before deciding on online sales tax’

According to the Financial Times, UK government officials have revealed that Chancellor of the Exchequer Rishi Sunak will not make a decision on a prospective online sales tax until the autumn.  The newspaper indicated that Mr Sunak was apparently waiting to see whether President Joe Biden’s administration in the United States would signal support for…

  • 17
  • Mar
Half of the UK’s freelancers say they’ll cease contracting once IR35 reform takes effect

In another development that will be of little surprise to workers taking advantage of our own accountancy for contractors in Plymouth and Wellington, a new survey has revealed that half (50%) of contractors plan to stop contracting in the UK after IR35 rule changes are introduced in April.  The UK government’s reforms of the off-payroll…

  • 8
  • Mar
Spring Budget 2021: what’s the latest on R&D tax relief?

In last week’s Budget, the government confirmed its commitment to ensuring the UK remains a competitive place for cutting-edge research. Although the Chancellor didn’t uncover any extensive or immediate changes to R&D relief in his Budget speech, he did announce the previously announced SME cap will go ahead, and that the government will carry out…

  • 5
  • Mar
Hospitality and retail firms to get £5bn for new Restart Grants

Chancellor Rishi Sunak has announced a £5bn Restart Grant scheme to help any small business badly impacted by Covid-19 – and support them as they get ready to reopen. The multi-billion pound package of support will replace the monthly Local Restrictions Support Grant (for open and closed businesses) due to end later this month, and…

  • 5
  • Mar
Budget 2021: Updates

This week, the Chancellor delivered the government’s Budget for 2021. Mr Sunak announced extensions to a number of the current COVID-19 schemes, as well as additional support for individuals and businesses. Below is a breakdown of some of the key measures for employers. To get the full details on all of Budget 2021 measures announced…

  • 5
  • Mar
Plymouth confirmed as one of first tax-break freeport sites

The creation of eight freeport zones across the UK has been announced in this week’s budget. While many of the freeports are situated in the North of England, Plymouth’s bid to become one of the Government’s first tax-break freeports has been successful. The remaining freeports announced will be located at East Midlands Airport, Felixstowe and…

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