Removing your home address from the public register

Since April 2018 company directors and other eligible people such as company secretaries, people with significant control (PSC) and LLP ...
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What is a finance lease?

The definition of a finance lease can be difficult to pin down. In legal form a finance lease is just ...
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Changes to VAT IT systems if no-deal Brexit

In a letter being sent to businesses across the country, HMRC has published the following information on the effect a ...
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Present tax-free company benefits

The list of company benefits that can be provided tax-free to employees is quite short. However, some of the benefits ...
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Keep abreast of Brexit news

As the Brexit date fast approaches, it seems the only thing we can say with any certainty is that uncertainty ...
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Business record keeping for the self-employed

If you are self-employed as a sole trader or as a partner in a business partnership, then you must keep ...
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Cash basis and capital expenditure

The cash basis scheme helps many sole traders and other unincorporated businesses benefit from a simpler way of managing their ...
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2019 Spring Statement: employment implications

In the Spring Statement 2019, the Chancellor of the Exchequer has announced that the apprenticeship reforms set out in the ...
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Full EU Settlement Scheme roll-out

The government has laid a Statement of Changes to the Immigration Rules implementing the full opening of the EU Settlement ...
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Employee tax codes 2019-20

The P9X form is used to notify employers of the tax codes to use for employees. The basic Personal Allowance ...
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Sale of income by an individual

A capital sum received by an individual in respect of the sale or relinquishment of income to be derived from ...
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What are the badges of trade?

The 'badges of trade' tests, whilst not conclusive, are used by HMRC to help determine whether an activity is a ...
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Treatment of deposits for VAT purposes

As a general rule, most deposits made by customers serve as advance payments and create a VAT tax point when ...
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Lost your Unique Tax Reference number?

Your Unique Taxpayer Reference (UTR) identifies your tax records at HMRC. The number is also known as your taxpayer number ...
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Topping up your self-employed NIC contributions

In many circumstances it can be beneficial to make voluntary Class 2 National Insurance Contributions (NICs) to increase your entitlement ...
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Spring Statement – 13 March 2019

The following comments were written on the 13th March 2019 immediately following Philip Hammond’s presentation of the 2019 Spring Statement ...
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Expenditure on building that qualifies as plant

Capital Allowances are the deductions which allow businesses to secure tax relief for certain capital expenditure. Capital Allowances are available ...
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Post cessation receipts and expenses

According to HMRC’s published guidance there are special rules for the taxation of post-cessation receipts and expenses. These provisions apply ...
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Incentive award schemes and tax

Companies can use incentive award schemes to encourage their employees in various ways, for example, to sell more of their ...
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Utilising unused losses for CGT

Sometimes tax-payers may sell an asset at a loss. If acceptable as capital losses, they can be deducted from Capital ...
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Companies House – Late Filing Penalties

There are Late Filing Penalties which are designed to encourage companies to file their accounts and reports on time. The ...
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Have you received income in the form of loans?

HMRC has issued a new briefing paper on disguised remuneration charge on loans. Disguised remuneration schemes are tax avoidance arrangements ...
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Last chance to get ready for VAT filing changes 1 April 2019

The deadline for the introduction of VAT filing changes is now just weeks away. For VAT returns periods starting on ...
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Are you claiming the Marriage Allowance?

HMRC has published a press release to remind qualifying couples to claim the Marriage Allowance. The Marriage Allowance allows lower ...
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Help to Save scheme

The Help to Save scheme for people on low incomes was officially launched in September 2018 and since then over ...
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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 ...
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Claim EU VAT refunds before Brexit

The VAT paid in other EU countries is often recoverable by VAT- registered businesses in the UK, who bought goods ...
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Correcting errors on VAT returns

Where an error on a VAT return is discovered, VAT registered businesses have a duty to correct the error as ...
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Company tax deductions for charitable donations

There are special rules in place when a limited company gives to a charity. This can include Corporation Tax relief ...
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What is a Company Voluntary Arrangement?

A Company Voluntary Arrangement or CVA is a special arrangement that allows a company with debt problems or that is ...
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Tax if selling online

Many people supplement their income by selling services online. This is often described as the 'sharing economy' or the 'peer-to-peer ...
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Job related expenses you may be able to claim

If you are an employee and use your own money to buy things you need for your job, you can ...
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National Insurance if you go abroad

If you move abroad it can often be advantageous to continue paying your UK National Insurance Contributions (NICs) in order ...
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Tax Diary March/April 2019

1 March 2019 - Due date for Corporation Tax due for the year ended 31 May 2018. 2 March 2019 ...
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New compensation limits announced to take effect from 6 April 2019

The Employment Rights (Increase of Limits) Order 2019 has been laid before Parliament and will come into force from 6 ...
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Finance Bill receives Royal Assent

The Finance (No.3) Bill 2017-19 received Royal Assent (later than originally planned) on 12 February 2019 following agreement by both ...
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Did you miss the self-assessment deadline?

Are you among the 700,000 taxpayers that missed the 31 January 2019 filing deadline for your 2017-18 self-assessment returns? If ...
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Filing deadlines for company accounts

After the end of its financial year, a private limited company must prepare full annual accounts and a company tax ...
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Joint ventures and VAT

A joint venture is a commercial enterprise undertaken by two or more parties who otherwise retain their own separate identities ...
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Election to treat property as main residence

There are a number of issues that owners of more than one home should be aware of. An individual, married ...
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Did you get your Brexit update letter from HMRC?

HMRC has now written to over 145,000 VAT-registered businesses across the UK with a Brexit update. The letters explain changes ...
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Edinburgh makes a case for UK’s first tourist tax

The City of Edinburgh Council is seeking permission to introduce a tourist tax. After an extensive consultation, the members of ...
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New Stamp Duty surcharge announced

A new consultation has been launched by HM Treasury together with HMRC seeking views on the design of a new ...
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Making Tax Digital – an opportunity for eCommerce

2019 will be a transformative year for many eCommerce retailers, who despite harnessing the power of technology to create their ...
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Tax codes for employees

The P9X form is used to notify employers of the tax code to use for employees. The form shows the ...
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EIS Income Tax relief restriction for connected parties

The Enterprise Investment Scheme (EIS) is designed to help smaller higher-risk trading companies raise finance by offering a range of ...
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Reduction in special Writing Down Allowance

Businesses can claim Capital Allowances tax relief for certain types of capital expenditure. For expenditure on plant and machinery that ...
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Class 4 NICs who is liable?

There are two types of National Insurance Contributions (NICs) payable by most self-employed people. These are known as Class 2 ...
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