When Inheritance Tax applies to pensions
Inheritance Tax (IHT) is levied on a person’s estate when they die and can also be payable during a person’s lifetime on certain...
04 Dec
Inheritance Tax
Author Archives: Elver Consultancy
04 Dec
HMRC notices
Income excluded from property business
HMRC publishes a list of income streams that are excluded from a UK property businesses' taxable income. The list includes fishing concerns, hotels...
04 Dec
Corporate Governance & Regulation
Accounting periods if company has two or more trades
A tax accounting period for Corporation Tax purposes cannot exceed a 12 month period. If company accounts cover less than 12 months then...
04 Dec
Employee Benefits
New advisory fuel rates published
Advisory fuel rates are intended to reflect actual average fuel costs and are updated quarterly. The rates can be used by employers who...
04 Dec
Income Tax
Loss of tax personal allowance
If your income is expected to exceed £100,000 for the first time, we would like to remind you of the effects this can...
04 Dec
Income Tax
Child Benefit tax charge
The High Income Child Benefit tax charge could apply to you or your partner if either of your individual taxable earnings exceeds £50,000...
04 Dec
Employment & Payroll
Shared parental leave entitlements
The shared parental leave and pay rules offer working parents’ far greater choice as to how they share the care of their child...
28 Nov
Tax Diary
Tax Diary December 2019/January 2020
1 December 2019 - Due date for Corporation Tax payable for the year ended 28 February 2019. 19 December 2019 - PAYE and NIC...
27 Nov
Payroll
Reporting PAYE information in real time
In December 2018, HMRC wrote to employers to advise of a temporary easement on reporting PAYE information in real time over the Christmas...
27 Nov
Value Added Tax
VAT Standard Retail Schemes
VAT retail schemes are a special set of schemes used by retail businesses to account for VAT. The schemes are usually used...