News

Tax on rental profits

A taxpayer, Miss Akan, appealed to the First Tier Tribunal (FTT) against assessments in relation to Income Tax, Capital Gains ...
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Telephone advice a reasonable excuse

The First-tier Tribunal (FTT) recently heard an appeal against late filing penalties imposed on both partnership and individual self-assessment returns ...
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CGT Rollover Relief

Capital Gains Tax (CGT) Rollover Relief is a valuable relief that allows for a delay in the payment of CGT ...
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How to tell if a tax office email is fraudulent

HMRC continues to warn taxpayers to be aware of email phishing scams. Phishing emails are used by fraudsters to access ...
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Receipts to cover certain expenses to be abolished?

A new measure to remove the requirement for employers to check receipts for expense claims made by employees using the ...
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Self-employed Class 2 NIC changes cancelled

In a surprise move, the government has announced that following a lengthy consultation the planned abolition of Class 2 National ...
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Acas publishes new guidance on employment references

ACAS has published new guidance on employment references aimed at both employers and employees, based around the typical questions it ...
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Lost your national insurance number?

Taxpayers who have lost or forgotten their national insurance number should first try and locate the number on paperwork such ...
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Students working summer jobs

We would like to remind any students that had a summer, job that they may be entitled to claim back ...
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Student loan refunds

Student Loans are part of the government's financial support package for students in higher education in the UK. They are ...
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Update on Bank Referral Scheme

The government’s Bank Referral Scheme was launched in November 2016. The scheme, created by the Small Business, Enterprise and Employment ...
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Take care when making VAT reclaims

The Court of Appeal recently heard a taxpayer's appeal against a decision of the Upper Tribunal to recover an amount ...
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Make a claim on an estate

There are special intestacy rules that govern how assets are divided if you die without making a will. If this ...
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Advice for exporters if ‘no deal’ Brexit

We have already examined matters that must be addressed by those importing goods to the UK if there is a ...
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Advice for importers if ‘no deal’ Brexit

The UK is set to leave the EU on 29 March 2019 and as things currently stand, it would seem ...
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Change in national minimum wage penalties in a TUPE transfer situation

HMRC has advised that it has changed its approach to charging financial penalties when enforcing the National Minimum Wage (NMW) ...
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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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PAYE late filing penalties

There are late filing penalties in place for employers that don’t report payroll information on time. The size of the ...
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Claiming the employment allowance

The employment allowance of £3,000 per year, is available to most businesses and charities to be offset against their employers ...
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Updating the PSC register

The register of People with Significant Control (PSC register) came into effect on 6 April 2016. The PSC register is ...
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Funeral Expenses Payment

Paying for a funeral can be expensive, and research shows that the average funeral arranged using a funeral director costs ...
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Venture Capital Schemes advance assurance

There are four tax-advantaged Venture Capital Schemes currently available:The Seed Enterprise Investment Scheme (SEIS) The Enterprise Investment Scheme (EIS) Venture ...
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IHT Disclosure of Tax Avoidance Schemes from April 2018

The Disclosure of Tax Avoidance Schemes (DOTAS) legislation, targets taxpayers who implement listed tax avoidance schemes as well as the ...
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What is Mileage Allowance relief?

Employees who use their own car at work can under certain circumstances be paid a tax-free allowance by their employers ...
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Allowable costs for property businesses

Costs that can be deducted by individuals that have a property rental business, depend on the type of property that ...
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Capital Gains after divorce or separation

When spouses or civil partners are living together they are both treated as separate individuals for Capital Gains Tax (CGT) ...
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Help to Buy: ISA scheme

The Help to Buy: ISA scheme launched in December 2015 and allows savers to claim a government bonus of 25% ...
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HMRC Alternative Dispute Resolution

The Alternative Dispute Resolution (ADR) process uses independent HMRC facilitators to help resolve disputes between HMRC and taxpayers. The person ...
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What are the different ways to dismiss staff?

Many employers rightly have concerns about the process of dismissing an employee. Whilst there are many laws to be aware ...
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How to close down a company by striking off

There are a limited range of circumstances when a company can request to be removed from the register (known as ...
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Are you eligible for CGT Entrepreneurs’ Relief?

Entrepreneurs' relief applies to the sale of a business, shares in a trading company or an individual’s interest in a ...
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How to earn more at the basic rate of tax

Donations made to charity over the course of a tax year can add up and taxpayers should ensure that they ...
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Boosting recycling with tax system

Over 162,000 responses were received to a call for evidence launched by HM Treasury on how changes to the tax ...
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Tax Diary August/September 2018

1 September 2018 - Due date for Corporation Tax due for the year ended 30 November 2017.19 September 2018 - ...
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Corporation Tax computations

The Office of Tax Simplification (OTS) provides independent advice to the government on simplifying the UK tax system, with the ...
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HMRC interest rates

Following the recent increase in the Bank of England base rate to 0.75%, HMRC has announced changes to the rates ...
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The Cycle to Work scheme and National Minimum Wage

There are special rules involving bicycles usually referred to as 'Cycle to Work' arrangements. The Cycle to Work scheme was ...
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Intellectual property scam

The Intellectual Property Office (IPO) is warning taxpayers of a new intellectual property (IP) scam, where taxpayers receive unsolicited invitations ...
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New counter-fraud squad

A new Government Counter Fraud Profession (GCFP) is to be launched on 9th October to help fight fraud in the ...
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Duty free limits for travellers

Here is a reminder for travellers of their duty and tax free allowances whilst travelling this summer.Travelling to an EU ...
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VAT on transfer of business as a going concern

The transfer of a business as a going concern (TOGC) rules consider the VAT liability on the sale of a ...
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Time to declare offshore assets?

HMRC has published a press release to remind taxpayers that the 30 September 2018 deadline to come forward and declare ...
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Limited liability for sole traders?

The Office of Tax Simplification (OTS) has updated its papers on the possibility of launching a Sole Enterprise Protected Assets ...
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Employers have published gender pay gap data

Under new gender pay gap regulations that came into force in April 2017, all employers with over 250 employees are ...
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What is overpayment relief?

Overpayment relief was introduced from 1 April 2010 and replaced error or mistake relief for Income Tax, Capital Gains Tax ...
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Emails and letters from HMRC

HMRC continues to warn taxpayers about email phishing scams. Phishing emails are used by fraudsters to access recipients’ valuable personal ...
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Childcare voucher scheme issues

The Tax-Free Childcare Scheme (TFCS) was launched in April 2017 and opened to all remaining eligible families with children under ...
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Fixtures and fitting on transfer of ownership

The tax treatment of the sale of fixtures and fittings included in the sale or purchase of a commercial building ...
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