Using the Help to Save scheme

The Help to Save scheme for people on low incomes was launched in September 2018. The scheme allows those in ...
Read More

HMRC phishing emails warning

HMRC continues to warn of the ever-present problem of fraudulent phishing emails. The emails typically look to obtain taxpayers personal ...
Read More

Employee Car Ownership Scheme (ECOS)

An Employee Car Ownership Scheme (ECOS) is a set of arrangements whereby employees acquire cars from a specified, often single ...
Read More

The scope of CGT incorporation relief

Where a taxpayer owns a business as a sole trader or in partnership, a Capital Gain will be deemed to ...
Read More

Entrepreneurs’ relief minimum period increased from April 2019

Entrepreneurs' relief applies to the sale of a business, shares in a trading company or an individual’s interest in a ...
Read More

CGT and chattels

A charge to Capital Gains Tax (CGT) usually arises after an asset is sold. However, there are special rules concerning ...
Read More

Tax on a private pension you inherit

Private pensions can be an efficient way to pass on wealth, but it is important to consider what, if any, ...
Read More

Want to pay-off your student loan in full?

Student Loans are part of the government’s financial support package for students in higher education in the UK. They are ...
Read More

Be Data Aware campaign

The Information Commissioner's Office (ICO) has launched a new "Be Data Aware" campaign to help people understand how organisations might ...
Read More

What is a Close Company?

A Close Company is broadly defined as a company that is controlled by: five or fewer participators or any number ...
Read More

How to treat post-cessation items if property business ceases

There are special rules for the taxation of post-cessation receipts after a trade has ceased. The legislation clearly states that ...
Read More

Chargeable benefits from cheap loans

An employee can obtain a benefit when provided with an employment-related cheap or interest-free loan. The benefit is the difference ...
Read More

Child benefit payments

The weekly rates of child benefit for the only or eldest child in a family is currently £20.70 and the ...
Read More

Last call, are you ready for revised digital filing of your VAT returns?

Most VAT registered businesses with a turnover above the VAT threshold need to be ready to keep digital records for ...
Read More

Submitting P11Ds is just the start of your obligations

We would like to remind employers that the deadline for submitting the 2018-19 forms P11D, P11D(b) and P9D is 6 ...
Read More

Landlords, time to consider your options?

Two changes to the way Private Residence Relief works are due to come into effect from April 2020. These changes ...
Read More

NICs and termination payments

The National Insurance Contributions (NICs) Bill was introduced into Parliament on 25 April 2019. The Bill will see the introduction ...
Read More

Search launched for new Bank of England governor

The current Governor of the Bank of England, Mark Carney, will step down from his role on 31 January 2020 ...
Read More

Treatment of capital expenditure if using the cash basis

The cash basis scheme helps many sole traders and other unincorporated businesses to manage their financial affairs. The scheme is ...
Read More

Dealing with builders retentions

It is common practise in the building industry for a final percentage of an amount due to a builder to ...
Read More

Renewing your tax credit claim

Families and individuals that receive tax credits should ensure that they renew their tax credit claims by 31 July 2019 ...
Read More

Beware Limited Cost Test if you use the VAT Flat Rate Scheme

The VAT Flat Rate Scheme (FRS) has been designed to simplify the way a business accounts for VAT and in ...
Read More

Will your gift aid donations create a tax bill?

The Gift Aid scheme is available to all UK taxpayers. The charity or Community Amateur Sports Clubs (CASC) concerned can ...
Read More

What is business relief for Inheritance Tax purposes?

Inheritance Tax (IHT) is levied on a person’s estate when they die and can also be payable during a person’s ...
Read More

Minimum wage underpayment is on the rise

A new report from the Low Pay Commission (LPC) has found that the number of workers paid less than the ...
Read More

Tax Diary May/June 2019

1 May 2019 - Due date for Corporation Tax due for the year ended 30 July 2018. 19 May 2019 ...
Read More

Making an EU VAT refund claim

The VAT paid in other EU countries is often recoverable by VAT-registered businesses in the UK, who bought goods or ...
Read More

VAT registration thresholds

HMRC’s VAT Notice 700/1: should I be registered for VAT? has recently been updated. The update reflects the fact that ...
Read More

Corporation Tax for non-resident companies

Non-resident companies with a trading business in the UK are liable to pay UK Corporation Tax on their profits made ...
Read More

VAT and transfer of business as a going concern

The transfer of a business as a going concern (TOGC) rules concern the VAT liability on the sale of a ...
Read More

Dealing with property income losses

Where a property business makes a loss, the loss can usually be carried forward and set against future rental business ...
Read More

How to register as self-employed

Are you self-employed? HMRC’s guidance says that you are probably self-employed if you: run your business for yourself and take ...
Read More

Maternity pay explained

How much maternity leave can you take? If you work as an employee and become pregnant you are eligible to ...
Read More

More about Debt Relief Orders

Last week we posted that it is over 10 years since Debt Relief Orders (DROs) were first introduced in April ...
Read More

The VAT concept of business

The VAT system is policed by HMRC and there can be heavy penalties for breaches of the legislation. There are ...
Read More

What is domicile?

Domicile is a general legal concept which in basic terms is taken to mean the country where you permanently belong ...
Read More

Outline of special rules for use of vouchers and credit tokens

HMRC’s Employment Income Manual is clear that there are special rules when an employee receives goods or services by reason ...
Read More

Let Property Disclosure Campaign

The Let Property Campaign provides landlords who have undeclared income from residential property lettings in the UK or abroad with ...
Read More

Welsh Income Tax takes effect

The start of the 2019-20 tax year marked a fundamental change to the way Income Tax is calculated for people ...
Read More

Job related expenses you can claim against your tax

If you are an employee and use your own money to buy things that you need for your job, you ...
Read More

Estate Agents targeted

HMRC has launched an unannounced crackdown on money laundering regulation non-compliance by estate agents. This clampdown resulted in over 50 ...
Read More

Tenth anniversary of first Debt Relief Order

Debt Relief Orders (DROs) were first introduced in April 2019. The DROs assist people who have small levels of assets ...
Read More

New guidance on the impact of Brexit on workplaces

Acas has published new general guidance to assist employers and employees in understanding the impact that Brexit may have in ...
Read More

Right to work checks for EU nationals after Brexit

The government has published new guidance which confirms that, once the UK leaves the EU and whether this is with ...
Read More

Capital expenditure for property businesses

There are different rules which apply to different types of capital expenditure for a property business. One of the main ...
Read More

Latest advice from government if we leave the EU

Although the EU have now extended the deadline to agree the withdrawal agreement - to 31 October 2019 - there ...
Read More

Late filing penalty notices delayed

In an agent update published earlier this year HMRC wrote that as part of EU Exit contingency planning, a change ...
Read More

Child Benefit Tax Charge

The High Income Child Benefit charge applies to taxpayers whose income exceeds £50,000 in a tax year and who are ...
Read More

Sign up for the newsletter

Login