Blog

Joint ventures and VAT

A joint venture is a commercial enterprise undertaken by two or more parties who otherwise retain
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Election to treat property as main residence

There are a number of issues that owners of more than one home should be aware of. An individual,
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Did you get your Brexit update letter from HMRC?

HMRC has now written to over 145,000 VAT-registered businesses across the UK with a Brexit update.
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Edinburgh makes a case for UK’s first tourist tax

The City of Edinburgh Council is seeking permission to introduce a tourist tax. After an extensive
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New Stamp Duty surcharge announced

A new consultation has been launched by HM Treasury together with HMRC seeking views on the design
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Gifts out of disposable income

There is an annual Inheritance Tax exemption of £3,000 for gifts. This exemption can also be
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Sooner is better than later

This week we pass the filing deadline (31 January 2019) for the 2017-18 Self Assessment tax
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Brexit – what the UK government has advised business owners to do

The Brexit uncertainties continue. To help businesses consider their options HMRC has published
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Charities – reducing input VAT

Charities pay VAT on all standard-rated goods and services they buy from VAT-registered businesses.
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Who pays Income Tax in Scotland?

According to HMRC, individuals pay Scottish Income Tax if they live in Scotland. Care should be
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Maximum AIA calculations for split accounting periods

The recent, and temporary, increase in the AIA to £1m from 1 January 2019 creates computational
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Government outlines new proposals to protect pregnant women and new parents against redundancy

The government has launched a consultation seeking views on new proposals to extend redundancy
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Changes to lettings relief and other exemptions April 2020

Two changes to the way Private Residence Relief works are due to come into effect from April 2020.
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Lifetime transfers where estate of another individual is increased

Most gifts made during a person's life are not subject to tax at the time of the gift. These
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On your bike – Cycle to Work schemes

There are special rules involving bicycles usually referred to as 'Cycle to Work' arrangements. The
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Avoid car-fuel benefit charge for 2018-19

The easiest way to ensure that no car-fuel benefit charge (for private journeys in a company car)
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HMRC publishes more strange excuses

A recent press release by HMRC revealed some of the oddest excuses for submitting a late tax
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EU Settlement Scheme fee is to be scrapped

The Prime Minister has announced in a speech to the House of Commons that the £65 fee for
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Statutory payment rates for tax year 2019/20 confirmed

Following the written ministerial statement published in November 2018 announcing the proposed new
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Auto-enrolment qualifying earnings band figures for tax year 2019/20 confirmed

The draft Automatic Enrolment (Earnings Trigger and Qualifying Earnings Band) Order 2019 has now
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Remaining age related tax allowances

Most age related tax allowances have been phased out. However, the Married Couple's Allowance (MCA)
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Carry back charitable contributions

Donations to charity over the course of a tax year can add up and taxpayers must ensure they keep a
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Could you claim the Marriage Allowance?

If you or your partner are a low earner or not working, then you may be eligible for the marriage
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Reducing payments on account

Taxpayers are usually required to pay their Income Tax liabilities in three instalments each year.
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Don’t overclaim for equipment purchases

You can use the Annual Investment Allowance (AIA) to claim a very generous 100% first year tax
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Changes to a building after the VAT option to tax

There are special VAT rules that allow businesses to standard rate the supply of most
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Register a company and register for tax

A new one-stop service to register a company and register for tax at the same time has been used by
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Check if your Holiday let property is qualifying

The Furnished Holiday Let (FHL) rules, allow holiday lettings of properties that meet certain
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New ‘global’ pound coin

HM Treasury has confirmed that the £1 coin will be going global. This announcement means that the
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Automatic enrolment for the self-employed?

The government has confirmed that they are to examine a number of different approaches to help
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Merchandise in Baggage

There are special customs requirements for commercial goods or samples which are imported or
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Finance Bill delay

The government published Finance (No.3) Bill 2017-19 on Wednesday, 7 November 2018. The Bill is so
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Paying young people and children

When a new employee is added to the payroll it is the employers' responsibility to ensure they meet
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Don’t forget to pay your tax at the end of the month

The 31 January 2019 is not just the final date for submission of your self assessment tax return
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Did you file your tax return Christmas Day?

A new press release by HMRC has highlighted that 2,616 taxpayers took the time to file their tax
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What expenditure qualifies for the Annual Investment Allowance?

The Annual Investment Allowance (AIA) was permanently set at £200,000 for all qualifying
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A further £2bn allocated to Brexit planning

The government has announced more than £2 billion in additional funding across 25 government
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What is a company confirmation statement?

As well as filing accounts with Companies House, there is a requirement to check that the
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Check your State Pension age

A 'Check your State Pension age' tool is available at www.gov.uk/state-pension-age/y. The tool
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Advise HMRC if you stop being self-employed

Any taxpayers that have ceased to be self-employed must advise HMRC of their change in status.
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Amendments to UK data protection law in the event of a no deal Brexit

Following the publication of its technical notice in September 2018 on “Data protection if there’s
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When is lettings relief available?

In general, there is no Capital Gains Tax (CGT) on a property which has been used as the main
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Qualifying for VAT special schemes

There are three main special VAT schemes available to small businesses. These are the flat rate
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Is your income approaching £100,000?

For high earning taxpayers, the personal allowance is gradually reduced by £1 for every £2 of
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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
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VAT on property service charges

A new Revenue and Customs Brief (6-2018) entitled VAT exemption for all domestic service charges
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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
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HMRC writes to taxpayers in Wales

HRMC has written to two million taxpayers in Wales concerning the introduction of the Welsh rates
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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
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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
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X-factor VAT bonus

The Chancellor, Philip Hammond has announced that the government will waive the VAT equivalent on
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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
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Tax Diary December 2018/January 2019

1 December 2018 - Due date for Corporation Tax due for the year ended 29 February 2018. 19
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Coding out debts deadline

The coding threshold entitles taxpayers to have tax underpayments collected via their tax code,
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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
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Inheritance Tax if you live abroad

The Inheritance Tax rules can be difficult to fathom when an expat or another person with
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When to report and pay Capital Gains Tax

The annual Capital Gains Tax (CGT) exemption for individuals is £11,700 for 2018-19. A husband and
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Claim £2,500 broadband voucher

The Gigabit Broadband Voucher Scheme was launched in March this year to help small businesses and
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Employment status of football referees

A recent First-Tier Tribunal case examined the complex issue of whether a group of 60 football
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ISAs and Inheritance Tax

New rules were introduced by the Government in 2015 that allow for the spouse or civil partner of a
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Directors’ loans – tax consequences for the director

An overdrawn director's loan account is created when a director (or other close family members)
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Directors’ loans – tax consequences for your company

There are tax consequences for both companies and directors relating to the issue of director’s
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Finance (No.3) Bill published

As expected, the government published Finance (No.3) Bill on Wednesday, 7 November 2018. The Bill
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VAT reverse charge construction industry

A change to the VAT rules first announced at Budget 2018 will come into effect from 1 October 2019.
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Child Benefit penalties under review

The High Income Child Benefit Charge (HICBC) came into force in January 2013. It applies to
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Autumn Budget 2018 – VAT registration and deregistration thresholds

The Chancellor confirmed in his Budget speech that the taxable turnover threshold that determines
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Autumn Budget 2018 – Private Residence Relief

As a general rule, there is no Capital Gains Tax (CGT) on a property which has been used wholly as
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Autumn Budget 2018 – Annual Investment Allowance

The Chancellor’s announcement of a temporary five-fold increase in the Annual Investment Allowance
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Autumn Budget 2018 – Minimum wage increases

The Chancellor used his Budget speech to confirm that increased National Minimum Wage (NMW) and
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Autumn Budget 2018 – Income Tax Rates & Allowances

The Chancellor has confirmed that from 2019-20 the personal allowance will increase to £12,500 (an
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Enterprise Investment Scheme CGT exemption not available

The Enterprise Investment Scheme (EIS) is designed to help smaller higher-risk trading companies to
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Repayment of student loans

Students that have finished their studies and entered the workforce, must begin to make loan
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Small Business rate relief

Business rates are charged on most non-domestic premises, including most commercial properties such
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Help to Save scheme

The Help to Save scheme for people on low incomes was officially launched in September 2018
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Government grants towards home electric charging points

Over the last number of years, the government has announced a raft of measures to encourage the use
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Electing not to have Incorporation Relief

If a taxpayer owns a business as a sole trader or in partnership, a capital gain will be deemed to
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Son’s failed investment in father’s company

A recent Upper Tribunal case examined whether a sole trader operating a skip hire business was
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Tax to pay if you exceed the annual pensions allowance

The annual allowance for tax relief on pensions has been fixed at the current level of £40,000
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New style £50 note to be introduced

In a joint statement issued by HM Treasury and the Bank of England it had been confirmed that the
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Anti-money laundering rules

The Money Laundering Regulations (MLR) are designed to protect the UK financial system and put in
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VAT – option to tax

There are special VAT rules that allow businesses to standard rate the supply of most
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Self-assessment filing deadline

The 2017-18 tax return deadline for taxpayers using a paper self-assessment return is 31 October
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Importing from non-EU countries

There are special rules for businesses that import goods from non-EU countries. Whilst most smaller
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The end of late payments by large organisations?

The government has been trying to combat the widespread issue of large businesses abusing their
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Company director imprisoned

A director of a company that manufactured security systems has been found guilty of two counts of
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Class 3 NICs

Class 3 National Insurance Contributions (NICs) are a voluntary contribution paid by those wishing
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Gift Aid donations for food and drink

The Gift Aid scheme is available to all UK taxpayers. The charity or Community Amateur Sports Clubs
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What are National Insurance credits?

National Insurance credits can help qualifying applicants to fill gaps in their National Insurance
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When do you pay Income Tax?

Income Tax, unsurprisingly, is a tax on income. To be more specific, it is a tax on the income of
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Charity filing deadline approaching

The Charity Commission has warned charities that the deadline for submitting the 2017 annual return
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Employer pension contributions

Employer contributions to any type of pension arrangement in a registered pension scheme are always
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Taxpayer wins appeal against filing penalties

The First-Tier Tribunal (FTT) recently heard a taxpayers appeal against penalties imposed for the
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Do capital gains affect tax credit claims?

There are special income eligibility rules for making tax credit claims. The amount and type of
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Late night taxis for employees

There is no specific requirement for employers to provide employees with transport home.
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Alert for VAT registered traders

The deadline for businesses with a turnover above the VAT threshold to keep digital records and
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Data protection in the event of a no deal Brexit

The government has published the second tranche in its series of technical notices providing
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Spotless but not tax deductible

The First-Tier Tribunal (FTT) recently heard three joined appeals that concerned the availability
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Childcare and compensation claims

The Tax-Free Childcare Scheme (TFCS) helps support working families with their childcare costs. The
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