Finance

A VAT investigation is an examination of a business’s VAT returns, calculations and supporting records by HM Revenue and Customs. HMRC usually describes this process as a VAT compliance check. The check may be conducted...

HMRC SDDS is a bank statement description used when HM Revenue and Customs collects an automatic Direct Debit from a taxpayer or business. SDDS stands for Strategic Direct Debit Service. An HMRC SDDS payment commonly...

Artificial intelligence can affect an R&D tax claim in two ways. HMRC uses AI and machine-learning tools within its wider tax administration, while businesses and advisers may use generative AI to organise evidence, analyse records or draft claim...

Last Updated: 10.10.2026 How long an HMRC tax rebate takes depends mainly on what type of refund you are claiming and whether HMRC has already calculated the amount. A straightforward P800 refund claimed online should normally...

Marginal relief corporation tax rules create a gradual transition between the 19% small profits rate and the 25% main Corporation Tax rate. For a standard 12-month accounting period with no associated companies, a qualifying company...

Last Updated: 10.10.2026 Most train tickets in the UK are zero-rated for VAT, which means VAT applies at a rate of 0% rather than the standard 20% rate. For an ordinary passenger buying a train ticket,...

HMRC Name and Shame Full Disclosure refers to a taxpayer making a complete, accurate, and timely disclosure of unpaid tax while fully cooperating with HM Revenue & Customs (HMRC). Under the Publishing Details of Deliberate...

Last Updated: 10.10.2026 Inheritance tax when second parent dies is usually calculated on the surviving parent's estate after their death. The amount due depends on the estate's total value, available inheritance tax allowances, what happened when...

Last updated: 7 July 2026 Yes, a director of a liquidated company can potentially get a mortgage in the UK. Company liquidation does not automatically stop a director from being approved for a residential mortgage. However,...

Last Updated: 10.10.2026 Self-employed people in the UK can generally claim the business-use portion of qualifying car lease costs as an allowable business expense. The amount that can be deducted depends on how the vehicle is...