Latest News 2018-11-28T15:19:12+00:00

Latest News

How the £1,000 trading allowance works

There is a £1,000 tax allowances for miscellaneous trading income that has been available to taxpayers since April 2017. This ...
Read More

When is lettings relief available?

In general, there is no Capital Gains Tax (CGT) on a property which has been used as the main family ...
Read More

Qualifying for VAT special schemes

There are three main special VAT schemes available to small businesses. These are the flat rate scheme, the annual accounting ...
Read More

Is your income approaching £100,000?

For high earning taxpayers, the personal allowance is gradually reduced by £1 for every £2 of adjusted net income that ...
Read More

Are you ready for VAT filing changes April 2019?

The introduction of Making Tax Digital (MTD) for VAT is fast approaching. From April 2019, some 1 million businesses with ...
Read More

VAT on property service charges

A new Revenue and Customs Brief (6-2018) entitled VAT exemption for all domestic service charges has recently been published by ...
Read More

Citizens’ rights in the event of a no deal Brexit

The government has published a policy paper on what might happen to EU citizens in the UK and UK nationals ...
Read More

When you can utilise overlap relief

The assessment of self-employed or partnerships profits is usually relatively straight-forward if the accounting date, to which accounts are prepared ...
Read More

Who can or cannot claim the Employment Allowance

The Employment Allowance of £3,000 per year is available to most businesses and charities to be offset against their employers ...
Read More

Taxation of termination payments

In the 2016 Budget, the government announced that termination payments over £30,000 would be subject to employer National Insurance Contributions ...
Read More

HMRC writes to taxpayers in Wales

HRMC has written to two million taxpayers in Wales concerning the introduction of the Welsh rates of Income Tax (WRIT) ...
Read More

UK VAT claims by non-EU businesses

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

Employing someone to work in your home

When you employ someone to work in your home, it is your responsibility to ensure you meet the employee's rights ...
Read More

X-factor VAT bonus

The Chancellor, Philip Hammond has announced that the government will waive the VAT equivalent on the sales of this year’s ...
Read More

Could you claim expenses and an early tax refund?

HMRC is reminding employees that they may be able to claim a tax rebate if they have incurred certain expenses ...
Read More

Statutory maternity, adoption, paternity, shared parental and sick pay to rise from April 2019

In a written ministerial statement, the government has announced the proposed new rates for Statutory Maternity Pay (SMP), Statutory Adoption ...
Read More

Tax Diary December 2018/January 2019

1 December 2018 - Due date for Corporation Tax due for the year ended 29 February 2018.19 December 2018 - ...
Read More

Tax on savings interest

In the current tax year, anyone with taxable income of less than £16,850 will have no tax to pay on ...
Read More

CGT and investment clubs

Investment clubs are loosely defined as a group of people who get together to buy and sell shares on the ...
Read More

VAT – FRS limited cost trader

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

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 ...
Read More

Pension automatic enrolment changes

Automatic enrolment for workplace pensions encourages many employees to start making provision for their retirement with employers, and as a ...
Read More

Coding out debts deadline

The coding threshold entitles taxpayers to have tax underpayments collected via their tax code, provided they are in employment or ...
Read More

Claim tax relief for job related expenses

Employees who use their own money to buy things they need for their job can sometimes claim tax relief for ...
Read More