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Tax exempt gifts paid out of income

Many taxpayers are aware that there is an annual Inheritance Tax exemption of £3,000 for gifts and
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CGT base cost uplift on death

Special rules apply to assets when they are passed to a beneficiary after the death of the
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Company van use – the tax consequences

There are a number of tax consequences to be aware when employees are provided with company vans
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Give now pay later – what are the settlement rules?

The settlement rules are intended to prevent an individual from gaining a tax advantage by making
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Beware sting in VAT Annual Accounting Scheme

The VAT annual accounting scheme is open to most businesses with a turnover of up to £1.35m per
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New guidance published for employers on setting dress codes and sex discrimination

Following a joint report ("High heels and workplace dress codes") published by the House of Commons
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Pay and expenses for volunteers

There are many rewarding opportunities for volunteering available across the UK. It is a popular
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More warnings to beware of bogus tax refund scams

Fraudsters are taking advantage of taxpayers who may be due a tax refund following the end of the
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NMW and LW enforcement measures

A new press release has revealed that in 2017-18, HMRC investigators identified £15.6 million in
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When might you be due a tax refund?

HMRC has issued helpful guidance that explains when you might be due a tax refund and how to make a
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Responding to a County Court claim

It is important that any correspondence received from the County Court is dealt with promptly. This
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Pensions Regulator to seize assets where employers fail to pay workplace pension fines

The Pensions Regulator (TPR) has announced that employers who refuse to pay workplace pension fines
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Child Benefit claw-back

The High Income Child Benefit charge came into force in January 2013 and applies to taxpayers whose
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Progress made towards one-day cheque clearance

A new system that allows UK banks and building societies to scan cheques and clear them digitally
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When do you pay tax on lodger’s rents?

The rent-a-room scheme is a set of special rules designed to help homeowners who rent-a-room in
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Are you making money from a hobby?

The 'badges of trade' tests whilst not conclusive are used by HMRC to help determine whether an
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Advance assurance for R&D tax claims

Advance Assurance for small companies that claim Research and Development (R&D) tax relief was
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Enterprise zones – new maps published

Enterprise zones were first launched in 2011 and are specific geographic areas that provide various
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New laws to protect home address

New laws have come into effect (from 26 April 2018) to help tackle the problem of identity fraud
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Scottish Limited Partnership reforms

The government has announced a new crackdown to close loopholes that have been exploited by those
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Bid to tackle online VAT fraud

HMRC is continuing to pressure online marketplaces marketplace (such as eBay or Amazon) to tackle
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Updated guidance on DBS criminal record checks

The Home Office and the Disclosure and Barring Service (DBS) have updated their guidance for
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Tax when your company gives to a charity

There are special rules in place when a limited company gives to charity. This can include,
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Late filing of self-assessment tax returns

Taxpayers that have not yet filed their 2016-17 self-assessment returns, will have already been
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Which car benefits are exempt from tax?

The tax benefits of driving a company car have been steadily reduced over many years. Most
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How to claim or stop claiming the employment allowance

The employment allowance of £3,000 per year is available to most businesses and charities to be
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Should you pay tax on money or goods you inherit?

The surprising answer to this question is usually no. This is because inheritance tax (IHT) is
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Information Commissioner’s Office announces new lawful basis interactive guidance tool

The Information Commissioner's Office (ICO) has announced that it has produced a lawful basis
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Tax Diary May/June 2018

1 May 2018 - Due date for corporation tax due for the year ended 30 July 2017. 19 May 2018 - PAYE
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What is a PET?

Most gifts made during a person’s life are not subject to tax at the time of the gift. These
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Don’t forget to handout P60s

The deadline for employers to provide employees with a copy of their P60 form is by 31 May 2018. A
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Claiming 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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How much does Class 4 NIC cost?

There are currently two types of national insurance contributions (NICs) payable by most
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Renewing tax credit claims

Families and individuals that receive tax credits should ensure that they renew their tax credit
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Treatment of termination payments

With effect from 6 April 2018, employers will need to pay income tax and Class 1 national insurance
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Reminder to submit details for Benefits in Kind

Employers are reminded that the deadline for submitting the 2017-18 forms P11D, P11D(b) and P9D is
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EMIs lose tax clearance under state aid

HMRC's recently published, and usually routine, Employment related securities bulletin contains an
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Treatment of termination payments

With effect from 6 April 2018, employers will need to pay income tax and Class 1 national insurance
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Reminder to submit details for Benefits in Kind

Employers are reminded that the deadline for submitting the 2017-18 forms P11D, P11D(b) and P9D is
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EMIs lose tax clearance under state aid

HMRC's recently published, and usually routine, Employment related securities bulletin contains an
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Access to Work grants increase by £15,000

Following new measures introduced in Parliament, from 1 April 2018 disabled workers can now benefit
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What is the settlement legislation?

The settlements legislation is contained in s.624 ITTOIA 2005. The legislation seeks to ensure that
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Overseas online VAT abuse

The new Fulfilment House Due Diligence Scheme (FHDDS) opened for online applications on 1 April
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Changed circumstances, change your Will

We have published articles before discussing the importance of making a will and ensuring that your
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The GDPR is coming

There are now just 7 weeks to go until the new data protection regulations become law on 25 May
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What is your principle private residence?

As a general rule, there should be no capital gains tax (CGT) to be paid on a property which has
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Presidential Guidance published on uprated Vento bands

The President of the Employment Tribunals (England and Wales) and the President of the Employment
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Minimum wage increases

New National Minimum Wage (NMW) and National Living Wage (NLW) rates come into effect on 1 April
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Employment law changes taking effect in April 2018

The following key changes to employment law will come into force in April 2018: The National
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Directors beware National Living Wage complications

From 1 April 2018, the National Living Wage (NLW) will increase by 33p to £7.83. This represents an
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VAT option to tax land and buildings

There are special VAT rules that allow businesses to standard rate the supply of most
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HMRC tackling online VAT fraud

Under new rules that came into force on 15 March 2018, HMRC has enhanced powers to make online
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Self-catering and holiday let business rates

One important aspect of a self-catering or holiday let business that should not be overlooked, is
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Ken Dodd has the last laugh

The recent death of the comedian, Sir Ken Dodd, aged 90, would not usually be the topic of one of
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Childcare voucher scheme deadline extended

The government has announced that the employer-operated childcare voucher scheme will remain open
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Inflation proofing corporate gains ceased December 2017

As part of the Autumn Budget measures, the Chancellor announced that the indexation allowance for
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Tax break to help black cabs turn green

The government has confirmed that a new tax allowance for electric taxis will come into effect from
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ISAs transfer of benefits upon death

New rules were introduced in April 2015 that allow for the spouse or civil partner of a deceased
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New offshore tax penalties

New legislation that comes into effect from 1 October 2018 will see higher penalties for anyone
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Tax avoidance scheme scuppered by HMRC

A tax avoidance scheme used by businesses that sought to avoid paying tax and National Insurance on
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Tax-free trivial benefits

There is no tax to pay on trivial benefits in kind (BiK) provided to employees where all of the
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Wales takes over taxes starting from April 2018

The Welsh tax devolution will begin next month when Wales, the Welsh Government and the National
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Benefits that lose tax-free status from April 2018

The tax and NIC advantages of certain benefits provided as part of a salary sacrifice arrangement
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Property owners’ lose 50% of higher rate tax relief on finance costs

Under new rules that came into effect from April 2017 the tax relief on mortgage costs for
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Company fined £297,845 for paying VAT one day late

We have often warned our readers of the importance of submitting and paying VAT returns in a timely
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Tax-free allowances for Capital Gains Tax

The annual exemption for Capital Gains Tax (CGT) in the current tax year is £11,300. This exemption
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Still time to top up your ISA

Now that the infamous 31 January deadline has passed it is time to start thinking about the current
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New advisory fuel rates published

Advisory fuel rates are intended to reflect actual average fuel costs and are updated quarterly.
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Payments made to son not a wage

A recent First-Tier Tribunal case examined whether a father's payment of wages to his son was an
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New protection for company directors

The government has announced the introduction of new laws to help tackle the problem of identity
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Living abroad and selling UK home?

A capital gains tax (CGT) charge on the sale of UK residential property by non-UK residents was
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More on inheritance tax shakeup

The Office of Tax Simplification (OTS) provides advice to the Chancellor on simplifying the UK tax
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HMRC’s requirement to correct

The new requirement to correct (RTC) legislation was introduced by the Finance (No.2) Act 2017. The
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Dormant company obligations

If a company has stopped trading and has no other income then HMRC should be informed for
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Beware capital allowance claw-back when you sell an asset

Capital allowances is the term used to describe the tax relief businesses can claim on certain
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What is reasonable care?

HMRC expects that taxpayers take ‘reasonable care’ over their tax affairs and do everything
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Government launches campaign to promote shared parental leave

In its “Good Work” response to the 2017 Taylor Review of Modern Working Practices, the government
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HMRC clarifies commencement provisions for termination payment tax changes

From 6 April 2018, all payments in lieu of notice (PILONs) equivalent to the amount of basic pay
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Can you change a Will after death?

One might expect that the answer to this question would be a definitive no. However, under certain
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What to do if you have stopped work

HMRC issues some helpful guidance that covers what you need to do if you stopped work. The guidance
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Pay and paternity leave

When your partner gives birth or when you adopt a child or have a baby by surrogate, you may be
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Does a charity pay tax?

The tax treatment of charities can be very complex. As a first step any charity hoping to benefit
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Appealing to a tax tribunal

There are a number of different options open to taxpayers that disagree with a tax decision issued
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Draft regulations to increase the national minimum wage published

The draft National Minimum Wage (Amendment) Regulations 2018 have been laid before Parliament and
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Paying NIC if you go abroad

If you move abroad it can be advantageous to continue paying UK National Insurance Contributions
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Text message scammers stopped by HMRC

HMRC has published a news release to explain how they are working to stop taxpayers receiving
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Delaying tax with rollover relief

Rollover Relief is a valuable relief that allows for a delay in the payment of Capital Gains Tax
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Income from selling services online

Many taxpayers supplement their income by selling services online. This is often known as the
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10.7m tax payers filed before the deadline

HMRC has issued a press release detailing the number of online filings made for the 2016-17 self
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Paying NIC if you go abroad

If you move abroad it can be advantageous to continue paying UK National Insurance Contributions
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Text message scammers stopped by HMRC

HMRC has published a news release to explain how they are working to stop taxpayers receiving
Read More

Delaying tax with rollover relief

Rollover Relief is a valuable relief that allows for a delay in the payment of Capital Gains Tax
Read More

Income from selling services online

Many taxpayers supplement their income by selling services online. This is often known as the
Read More

10.7m tax payers filed before the deadline

HMRC has issued a press release detailing the number of online filings made for the 2016-17 self
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DBS updates identity checking guidelines

The Disclosure and Barring Service (DBS) has introduced new identity checking guidelines for
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Retailers encouraged to employ more disabled workers

The Minister for Disabled People, Health and Work has launched a new campaign to encourage more
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Seconding employees to a charity

There are special rules in place when a limited company gives to a charity. This can include
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Did you file before the deadline?

HMRC revealed that, as of 24 January 2018, there remained over 3 million taxpayers who had not yet
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Reasonable excuse for late filing of your tax return

Taxpayers that have not yet filed their 2016-17 self-assessment returns will have been charged an
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