Blog

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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CGT record keeping

The annual Capital Gains Tax (CGT) exemption for individuals is £11,700 for 2018-19. A husband and
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Help-to-Save scheme launched

The new Help to Save scheme for people on low incomes was officially opened with effect from 12
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New bereavement allowance for parents

A new workplace right to paid leave for bereaved parents has been officially enshrined in law after
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Budget date remains to be confirmed

The Chancellor Philip Hammond, has stated before the House of Lords Economic Affairs Committee,
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Telephone advice a reasonable excuse

The First-tier Tribunal (FTT) recently heard an appeal against late filing penalties imposed on
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CGT Rollover Relief

Capital Gains Tax (CGT) Rollover Relief is a valuable relief that allows for a delay in the payment
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How to tell if a tax office email is fraudulent

HMRC continues to warn taxpayers to be aware of email phishing scams. Phishing emails are used by
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Receipts to cover certain expenses to be abolished?

A new measure to remove the requirement for employers to check receipts for expense claims made by
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Self-employed Class 2 NIC changes cancelled

In a surprise move, the government has announced that following a lengthy consultation the planned
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Acas publishes new guidance on employment references

ACAS has published new guidance on employment references aimed at both employers and employees,
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Update on Bank Referral Scheme

The government’s Bank Referral Scheme was launched in November 2016. The scheme, created by the
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Take care when making VAT reclaims

The Court of Appeal recently heard a taxpayer's appeal against a decision of the Upper Tribunal to
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Make a claim on an estate

There are special intestacy rules that govern how assets are divided if you die without making a
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Advice for exporters if ‘no deal’ Brexit

We have already examined matters that must be addressed by those importing goods to the UK if there
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Advice for importers if ‘no deal’ Brexit

The UK is set to leave the EU on 29 March 2019 and as things currently stand, it would seem that we
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Change in national minimum wage penalties in a TUPE transfer situation

HMRC has advised that it has changed its approach to charging financial penalties when enforcing
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Venture Capital Schemes advance assurance

There are four tax-advantaged Venture Capital Schemes currently available: The Seed Enterprise
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IHT Disclosure of Tax Avoidance Schemes from April 2018

The Disclosure of Tax Avoidance Schemes (DOTAS) legislation, targets taxpayers who implement listed
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What is Mileage Allowance relief?

Employees who use their own car at work can under certain circumstances be paid a tax-free
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Allowable costs for property businesses

Costs that can be deducted by individuals that have a property rental business, depend on the type
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Capital Gains after divorce or separation

When spouses or civil partners are living together they are both treated as separate individuals
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What are the different ways to dismiss staff?

Many employers rightly have concerns about the process of dismissing an employee. Whilst there are
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How to close down a company by striking off

There are a limited range of circumstances when a company can request to be removed from the
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Are you eligible for CGT Entrepreneurs’ Relief?

Entrepreneurs' relief applies to the sale of a business, shares in a trading company or an
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How to earn more at the basic rate of tax

Donations made to charity over the course of a tax year can add up and taxpayers should ensure that
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Boosting recycling with tax system

Over 162,000 responses were received to a call for evidence launched by HM Treasury on how changes
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VAT on transfer of business as a going concern

The transfer of a business as a going concern (TOGC) rules consider the VAT liability on the sale
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Time to declare offshore assets?

HMRC has published a press release to remind taxpayers that the 30 September 2018 deadline to come
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Limited liability for sole traders?

The Office of Tax Simplification (OTS) has updated its papers on the possibility of launching a
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VAT – goods on sale or return

There are special VAT rules that must be followed when you sell goods on a sale or return basis.
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What is overpayment relief?

Overpayment relief was introduced from 1 April 2010 and replaced error or mistake relief for Income
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Gifting share in home

Most gifts made during a person's life are not subject to tax at the time of the gift. These
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Tax free health benefits

There is no requirement for employers to pay tax and National Insurance on certain health benefits
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32.5% Corporation Tax on overdrawn directors’ loans

HMRC defines a director's loan as money taken from your company (by you or other close family
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What to do if you disagree with HMRC

There are a number of options open to taxpayers who disagree with a tax decision issued by HMRC. As
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Capital Gains Tax: company takeovers

When a company takes over another company it may issue its own shares and/or securities in payment
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Selling your UK home if you live abroad

There are special reporting requirements and the possibility of a tax bill when you sell your home
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Correcting errors on your VAT return

Where an error on a past VAT return is uncovered taxpayers have a duty to correct the error as soon
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Football agent scores £1.2m own goal

A former football agent, Jerome Anderson, who looked after over 200 players during his career
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VAT – motor dealer deposit contributions

A new Revenue and Customs Brief 7/18 has been published by HMRC concerning their policy on the VAT
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New guidance on disguised remuneration scheme

The government's plan to tackle disguised remuneration tax avoidance schemes was first announced as
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How to challenge your Council Tax listing

The Valuation Office Agency (VOA) is a government body in England and Wales and an executive agency
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Will I pay tax when coming to the UK?

The statutory resident test (SRT) is used to determine if someone is resident in the UK for tax
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A round up of some non-taxable payments and benefits

Although the government is continually clamping down on non-taxable payment and benefits for
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New fund launched to help tackle the disability employment gap

The government has launched a multi-million pound challenge fund to help tackle the disability
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VAT and gift vouchers

New draft legislation has been published as part of the draft Finance Bill 2018-19 that aims to
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Change to penalties for late payment of tax

Plans to introduce a new two tiered penalty system for individuals and businesses that do not pay
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