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The meaning of goodwill
Goodwill is a term we hear about often, but interestingly, is rarely mentioned in legislation. In fact, the term 'goodwill' ...
Taxation of miscellaneous income
There are special rules, known as the miscellaneous income sweep-up provisions, that seek to charge tax on certain income. This ...
When are scholarships taxable as benefits?
The holder of a scholarship is exempt from a charge to Income Tax on income from a scholarship when receiving ...
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 ...
When can you increase your rental income?
The ability to increase the rent on private rentals is driven by the tenancy agreement. This is an agreement between ...
Tax if you work abroad
If you are leaving the UK to work abroad for at least one year (or permanently), there is a requirement ...
National Insurance if you work abroad
If you move abroad, it can often be advantageous to continue paying your UK National Insurance Contributions (NICs) in order ...
How do you calculate adjusted net income?
To calculate adjusted net income, you will need to look at a taxpayer’s total taxable income, before personal allowances, and ...
When are Class 1A NICs due
Class 1A NICs are paid by employers in respect of most benefits in kind provided to employees, for example, the ...
VAT and insurance claims
Insurance transactions are generally VAT exempt. However, there are many issues that can arise concerning the VAT liability of certain ...
Child Benefit charge if income exceeds £50,000
The High Income Child Benefit charge (HICBC) applies to a parent whose income exceeds £50,000 in a tax year and ...
When you can claim back VAT on purchase of a car
There are complex VAT rules that determine the amount of VAT that can be recovered when purchasing a new car ...
What you can do with your pension pot
Pension Wise is a free government service that was launched in 2015 to help provide individuals with general pension advice ...
Pregnant women and new parents to get enhanced redundancy protections
The government has published its response to its January 2019 consultation on “pregnancy and maternity discrimination: extending redundancy protection for ...
Inheritance Tax and domicile
Domicile is a general legal concept which in basic terms is taken to mean the country where you permanently belong ...
Working after State Pension age
There are many taxpayers that have reached the State Pension age and continue to work. It should be noted that ...
Clients exporting to EU if a no-deal Brexit
If the UK leaves the EU without a deal, any UK business that exports goods to the EU will be ...
Last chance to join the Help to Buy ISA scheme
The Help to Buy ISA scheme will close to new savers after 30 November 2019. This leaves less than 4 ...
Visiting EU after 31 October 2019
Although we have a new Prime Minister, it would seem that so far nothing has changed to bring us any ...
Lowest paid to be eligible for sick pay
A new consultation launched jointly by the Department for Work and Pensions and the Department of Health and Social Care, ...
NIC Act 2019 receives Royal Assent
The National Insurance Contributions (Termination Awards and Sporting Testimonials) Bill has received Royal Assent, to become the National Insurance Contributions ...
Changes at HM Treasury
Within hours of entering 10 Downing Street for the first time as Prime Minister, Boris Johnson had filled most of ...
Earlier payment dates for Capital Gains Tax
Currently, the due date for paying any Capital Gains Tax (CGT) owed to HMRC is the 31 January, following the ...
Changes to Structures and Buildings Allowance
The new structures and buildings allowance (SBA) allows for tax relief on qualifying capital expenditure on new non-residential structures and ...
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