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Structures and Buildings Allowances

The Structures and Buildings Allowances (SBA) allows for tax relief on qualifying capital
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ISAs 2022-23

The maximum amount that can be invested in an ISA in the current (2022-23) tax year is
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When you are required to register for PAYE

There are a multitude of rules that new businesses must follow when they start employing staff for
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Holiday lets occupancy check

The furnished holiday let (FHL) rules allow holiday lettings of properties that meet certain
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Reminder to look out for tax credit renewal packs

HMRC is currently sending the annual tax credit renewal packs to some 2.1 million tax credit
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Check which EORI number is required

The Economic Operators' Registration and Identification System (EORI) was setup as a European Union
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Accountancy expenses arising out of an enquiry

HMRC’s internal manual offer some revealing insights as to the treatment of accountancy expenses
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PAYE settlement agreements

A PAYE Settlement Agreement (PSA) allows employers to make one annual payment to cover all the tax
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Tell HMRC if your company is dormant

If a company has stopped trading and has no other income, then the company is usually classed as
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Reclaiming VAT

For most fully taxable businesses, VAT can be reclaimed on goods and services used in the course
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Tax Diary May/June 2022

1 May 2022 - Due date for corporation tax due for the year ended 30 July 2021. 19 May 2022 - PAYE
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Planning for Basis Period reform

The basis period reforms will change the way trading income is allocated to tax years. The reforms
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Basic principles of domicile

Domicile is a general legal concept which in basic terms is taken to mean the country where you
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Tax-free mileage expenses

If you use your own vehicle for business journeys, then you may be able to claim a tax-free
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Dividend tax increase from 6 April 2022

A reminder that the 1.25% increase in NIC contributions that came into effect on 6 April 2022 are
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Asset disposals not subject to Capital Gains Tax

Capital Gains Tax (CGT) is a tax on the profit made from selling certain assets such as property,
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NIC relief if employing veterans

A new National Insurance Contributions (NICs) holiday for employers who hire former members of Her
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HMRC names avoidance scheme promoters

HMRC has used new powers introduced in the Finance Act 2022 to name tax avoidance schemes and their
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Check your Income Tax for current year

HMRC offers taxpayers the ability to check their Income Tax for the current tax year. The online
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Tax if you live abroad and sell UK home

One of the most often used and valuable of the Capital Gains Tax (CGT) exemptions covers the sale
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Business tax cuts from April 2022

A number of business tax cuts came into effect from April 2022. This includes an increase in the
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Rural pubs community funding

The Department for Levelling Up, Housing and Communities has published the list of successful
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NIC Rates and Allowances for 2022-23

HMRC has published an updated version of the rates and thresholds for employers following the
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Will you need to repay child benefits?

The High Income Child Benefit charge applies to taxpayers whose income exceeds £50,000 in a tax
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Do you need to submit a Self-Assessment return for 2021-22?

There are a number of reasons why you might need to complete a Self-Assessment return. This
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Get help with childcare costs for Easter

As the Easter holiday approaches, HMRC is reminding parents that they may be eligible for Tax-Free
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What is a wasting asset?

A wasting asset is an asset which has a predictable life of 50 years or less. HMRC’s guidance is
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Self-employed NIC changes

In the recent Spring Statement, a significant increase in the National Insurance Threshold from
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Resolving commercial rent debts

A new law that seeks to resolve certain remaining commercial rent debts accrued during the pandemic
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On your bike – cycle to work exemption

The Cycle to Work scheme was introduced over 20 years ago to help promote the use of healthy ways
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Scammers target Self-Assessment taxpayers

Fraudsters are continuing to target taxpayers with scam emails, texts and calls following the
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Overview of Digital Services Tax (DST)

The UK’s Digital Services Tax (DST) came into operation on 1 April 2020. This tax is designed to
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Bare or simple trusts

A trust is an obligation that binds a trustee, an individual or a company to deal with the assets
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Extended loss relief carry-back

A reminder that the temporary extension to the eligible carry back period for trading losses
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Employer company car considerations

If you are thinking about purchasing a company car through a limited company, there are many issues
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Inheritance Tax-free gifts reminder

We wanted to remind our readers of the Inheritance Tax (IHT) implications of making cash gifts
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Exempt loans to employees

An employee can obtain a benefit when provided with an employment-related cheap or interest-free
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Appeals process for late filing of company accounts

There are late filing penalties which are designed to encourage companies to file their accounts
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Check large suppliers payment status

The government has been working for a number of years to combat the problem of large businesses
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Increased rates for second homes in Wales

The Welsh government has announced that it is increasing the maximum amount that local authorities
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Auto enrolment for care workers

Automatic enrolment for workplace pensions has helped many employees make provision for their
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Definition of VAT partial exemption

A business that incurs expenditure on taxable and exempt business activities is partially exempt
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Limits to loss relief claims against income or capital gains

There are a number of tax reliefs available for self-employed taxpayers that make a trading loss.
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Transferring assets during separation and divorce

When a couple separate or divorce it is unlikely that they are thinking about any tax implications.
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SDLT concerns transferring a property to a company

Stamp Duty Land Tax (SDLT) is a tax that is generally payable on the purchase or transfer of land
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Increase in National Insurance from April 2022

We would like to remind our readers that the increases in National Insurance Contributions (NIC) of
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What is plant and machinery?

Capital allowances are the deductions which allow businesses to secure tax relief for certain
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Range of supplies affected by VAT reverse charge

The VAT domestic reverse charge accounting mechanism was put in place to help prevent criminal
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End of SSP Rebate Scheme

The Coronavirus Statutory Sick Pay Rebate Scheme has allowed small and medium-sized businesses and
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Claiming for business use of own car or van

If you are an employee, you may be able to claim tax relief for using your own vehicle, be it a
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Latest on COVID restrictions in England

The government has published its latest guidance on COVID restrictions and specifically on the new
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MTD for VAT – digital records required

The MTD for VAT regime started in April 2019 when businesses with a turnover above the VAT
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Tax relief for job-related expenses

If you receive no compensation from your employer for work related expenses you have paid, you can
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Tax relief if working from home

If you are an employee working from home, you may be able to claim tax relief for some of the bills
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Spreading the cost of tax bills

One of the announcements by HMRC at the start of the coronavirus pandemic was the introduction of
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Hobbies and artificial trades

HMRC uses a number of different measures to help determine whether an activity is a trade
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Car fuel benefits for employees

The car fuel benefit rules only apply to company cars that attract a car benefit tax charge. This
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Option to tax (VAT) land and buildings

There are special VAT rules that allow businesses to standard rate the supply of most
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Challenging your council tax band

The Valuation Office Agency (VOA) is a government body in England and Wales and an executive agency
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Don’t miss out on this tax allowance

HMRC is using Valentine’s Day to issue a reminder to married couples and those in civil
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How to join MTD ITSA pilot

Some businesses and agents are already keeping digital records and providing updates to HMRC as
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Extending MTD for Income Tax to businesses and landlords

The introduction of Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) is now set to
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19% fail to file on time

HMRC has confirmed that more than 10.2 million people submitted their 2020-21 Self-Assessment tax
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Support with rising energy bills

The Chancellor, Rishi Sunak delivered a statement to the House of Commons on 3 February 2022
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Donations to overseas charities

Taxpayers who make donations to charities in other countries can qualify for tax relief in the UK
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Income Tax set-off of rental business losses

Where a property business makes a loss, the loss can usually be carried forward and set against
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IHT – limitations on spouse or civil partner exemptions

Inheritance Tax (IHT) is a tax that is levied on a person’s estate when they die and can also be
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Employing for the first time

There are a multitude of rules and regulations that you must be aware of when you start employing
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Working for yourself

Newly self-employed taxpayers should notify HMRC as soon as practicable when they begin working for
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Charging charities at lower rates of VAT

There are special rules, under which a VAT-registered business can sell certain goods and services
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Who should register for Plastic Packaging Tax

The new Plastic Packaging Tax will come into effect from 1 April 2022. The tax will not apply to
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How CIS off-set works in practice

The Construction Industry Scheme (CIS) is a set of special rules for tax and National Insurance for
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Tax and customs duties for goods sent from abroad

There are special rules to help ensure that goods sent from abroad are taxed appropriately and to
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Filing obligations for private limited companies

It is important that anyone responsible for the accounts and tax filing regime for private limited
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Government nudges local authorities

The Secretary of State for Business, Energy & Industrial Strategy has written a letter to local
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HMRC “sweetheart” deals

HMRC has issued an interesting press release stating that ‘Fact: HMRC does not do ‘sweetheart
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Global minimum Corporation Tax of 15%

A new consultation has been published by the UK government seeking views for how a worldwide 15%
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Replacement of domestic items in let property

The replacement of domestic items relief has been in place since April 2016. The relief allows
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Tax relief for working from home

If you are an employee working from home, you may be able to claim tax relief for some of the bills
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Leaving gifts to charity in your Will

The government introduced new rules to encourage charitable giving on death in 2012. The rule which
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Omicron funding delivered to local authorities

Just before the Christmas break, the Chancellor announced a new support package for some businesses
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HMRC fraud squad net £1bn from criminals

HMRC’s Fraud Investigation Service (FIS) was launched in April 2016. The FIS is responsible for
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Are you registered for Making Tax Digital for VAT?

Making Tax Digital (MTD) for VAT is to be extended to cover businesses with a turnover below the
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Delay in implementing late payment penalties

In tandem with the announcement that no late filing penalties will be issued for 2020-21
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HMRC agree delay in tax return deadline

HMRC has announced that late filing penalties will be waived for taxpayers that file their 2020-21
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New powers for Insolvency Service

The Insolvency Service is a government agency that provides services to those affected by financial
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Will you need to pay-back Child Benefits?

The High Income Child Benefit charge applies to taxpayers whose income exceeds £50,000 in a tax
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Self-certified sick notes

The statutory sick pay rules were temporarily amended on 17 December 2021. The amendment allows
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Beware online sales scams

A new government press release has been issued reminding the public that online sales scams
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A reminder – HMRC’s badges of trade

The 'badges of trade' tests whilst not conclusive are used by HMRC to help determine whether an
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BOE advises government on inflation hike to 5.1%

The current Governor of the Bank of England, Andrew Bailey, has written to the Chancellor of the
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Pay your tax bill by instalments

Businesses and self-employed people in financial distress, and with outstanding tax liabilities,
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Plug-in grants for electric vehicles

The government has announced significant changes to the low-emission vehicles plug-in grant scheme.
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Tax Diary January/February 2022

1 January 2022 - Due date for Corporation Tax due for the year ended 31 March 2021. 19 January
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Gifts to spouse or charity

In most cases, there is no Capital Gains Tax (CGT) to be paid on the transfer of assets to a spouse
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The judgement in HMRC v Tooth

A recent Supreme Court decision examined in some detail HMRC’s powers in relation to issuing a
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Rent-a-room relief

The rent-a-room scheme is a set of special rules designed to help homeowners who rent-a-room in
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Postponed VAT accounting

Since 1 January 2021, businesses registered for VAT have been able to account for import VAT on
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