Basis of assessment – The tax year 2023/24 was the transition year from the ‘current year’ basis of assessment (which charged tax on the profits of a 12-month accounting period ending in the tax year) to the‘tax year’ basis of assessment, which taxes the profits actually arising in the tax year. Only businesses that already...

GDPR – What information do you hold on me? Q. If an employee wants to make a subject access request, must it be given in a particular format? A. The UK GDPR does not set out any formal requirements or suggestions for a valid subject access request. This means that a subject access request can...

You are registered for VAT as a sole trader and have decided to earn extra money by renting out a bedroom in your home via Airbnb. But is this income subject to VAT and, if so, is there a way around it?  John Craig looks at this futher. It is often forgotten that there is...