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A recent Court of Appeal case concerning the Royal Opera House Foundation has decided that that there was no direct and immediate link between the costs of staging productions and their taxable supplies of catering etc. The production costs were found to be ‘directly and immediately linked’ to ticket sales which are exempt from VAT due to the cultural exemption rules and the VAT costs incurred on them as a consequence was irrecoverable.

Pension tax relief can seem like an alien concept, but it pays to understand what it is and how you can make the most of it, up to certain limits.

The Supreme Court’s recent decision in Balhousie Holdings [Balhousie Holdings Ltd v HMRC [2021] UKSC 11] indicates that care home operators (and other entities such as charities and universities) may be able to use sell and lease back arrangements to finance the construction of new buildings without incurring a significant VAT penalty.

A recent Court of Appeal case has decided against two organisations that provided day care services.

It may feel like an alien world, full of complicated jargon and unseen digital transactions, but HMRC has been considering how cryptoassets should be taxed for years and have recently pulled together all their existing guidance into a new Manual. There isn’t any new legislation to go with it because they consider that existing rules cover this new way of trying to make money – many would disagree but how do you know what to do about your tax in the meantime?

The Covid pandemic has been tough on many businesses; one of the consequences of the economic turmoil of the past 12 months has been a significant increase in the number of new businesses starting up.

What is Xero and cloud accounting?

Back in 2023, the Main rate of Corporation Tax increased from 19% to 25%. Whilst this may seem like a huge hike for business owners, many companies will actually pay less than 25%.