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

Latest News

Termination payments

The tax treatment of termination payments has changed significantly over recent years. The changes have aligned the rules for tax ...
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Bona Vacantia – dissolved companies

The final step in bringing a company to a legal end is dissolution. However, one if the important points to ...
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Reminder of compensation limits for bank deposits

The bank deposit guarantee limit is the amount of money that is guaranteed for savers in UK banks and building ...
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Reminder that the plug-in grant has ended

The government plug-in grant was first introduced 11 years ago to help drivers make the move to owning an electric ...
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Using the Customs Declaration Service

The Customs Declaration Service (CDS) is a new customs IT platform that has been designed to modernise the process for ...
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Do you qualify for the marriage allowance?

HMRC is using the wedding season to issue a reminder to married couples and those in civil partnerships to sign ...
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Miscellaneous income

There are special rules known as the miscellaneous income sweep-up provisions that seek to charge tax on certain income. This ...
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Using the Annual Investment Allowance

The Annual Investment Allowance (AIA) is a generous tax relief that was first introduced in 2008. The AIA allows for ...
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Scope of Trade

There is no statutory definition of ‘trade’. The only statutory reference to the term is that ‘trade’ includes a ‘venture ...
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Using Advisory Fuel rates

The easiest way to ensure that no car-fuel benefit charge (for private journeys in a company car) is payable, is ...
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Tax-free trivial benefits

There is a benefit in kind (BiK) trivial exemption that applies to small non-cash benefits like a bottle of wine, ...
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Duty free limits if you are travelling abroad

Here is a reminder of any duty payable and tax-free allowances if travelling abroad this summer. If you are travelling ...
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Emergency tax codes

The letters in an employee’s tax code signify their entitlement (or not) to the annual tax-free personal allowance. The tax ...
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Settlement legislation – non-trust settlements

The settlement legislation seeks to ensure that where a settlor has retained an interest in property that the income arising ...
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Construction services taxed at VAT zero or 5% rate

Whilst most businesses in the UK charge VAT at the standard rate of 20%, there are a number of different ...
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Business records if 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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Tax relief on replacement of domestic items

The replacement of domestic items relief has been in place since April 2016. The relief allows landlords the ability to ...
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Gifts with reservation

The majority of gifts made during a person's life are not subject to tax at the time of the gift ...
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Entitlement to National Minimum Wage

Employers must ensure they are paying staff the new National Minimum Wage (NMW) and National Living Wage (NLW) rates for ...
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Non-resident company taxation

Non-resident companies with a trading business in the UK are liable to pay UK Corporation Tax on their profits made ...
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Qualifying for residence nil rate band

The Inheritance Tax residence nil rate band (RNRB) is a transferable allowance for married couples and civil partners (per person) ...
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Tax when you get your pension

There are special rules which allow individuals who have set up private pension scheme(s) to benefit from significant tax reliefs ...
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Applying for Marriage Allowance

The marriage allowance can be claimed by married couples and those in a civil partnership where a spouse or civil ...
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NIC threshold increased

In the Spring Statement earlier this year, the then Chancellor, Rishi Sunak, announced an NIC tax-cut to take effect from ...
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