The UK's tax authority, HMRC, has introduced an online calculator designed to assist sole traders and partners in determining their overlap relief figure for the 2023/24 income tax self-assessment ...

Paul Samrah of Kingston Smith explains how a low-profit year is a good time to take advantage of ‘overlap relief' and cut your tax bill by changing accounting date. Practices have a free choice over ...

As the Telegraph recently highlighted, a major change is coming for over half a million sole traders and partnerships. The new rules will apply for the 2024-25 tax year with 2023-24 designated as a ...

QUESTION: I own a small corner shop that I have operated as a partnership for many years and I prepare partnership accounts each year to September 30. Can you explain what changes are coming regarding ...