Blog

Resurfacing A Haulage Yard: Repair Or Capital Improvement?

Work was carried out on a haulage yard to improve the surface after it became a Health and Safety hazard ...

Proposed Tax Rises To Pay For Impact Of Coronavirus

The national debt is tipping over £2 trillion for the first time and it is becoming obvious there will be some tax rises ...

HMRC: Proposed Financial Institution Notice

Recently, the Government published the Finance Bill 2020/21 and introduced the Financial Institution Notice (FIN) ...

HMRC Are On The Look Out For Furlough Fraud

Many small businesses are worried about the possible penalties from accidental furlough fraud. So how can you avoid it?

Methods HMRC Uses To Find Out About Rental Properties

One of the commonest questions I get asked about rental properties is how HMRC will discover a landlord's income ...

MTD Extended To Self-Employed And Landlords From 2023

Making Tax Digital has been slowly becoming mainstream with HMRC pushing it into new areas as time goes by ...

Capital Gains Tax Consultation Underway

In July, Chancellor Rishi Sunak announced that he was focussed on support measures instead of revenue raising ...

2% SDLT Surcharge For Non-UK Resident

SDLT for any non-UK residents is paid at the same rate as is paid by UK residents. This will soon change ...

Holiday Lets, Serviced Accommodation And The 5% VAT Rate

Chancellor Rishi Sunak's Summer Statement on the 8th July 2020 announced a VAT reduction in the hospitality sector ...

Chancellor's SDLT Boost For UK Property Investors

The UK housing market has virtually shut down during the Coronavirus lockdown and this has effected the rest of the economy in terms of the levels of consumer confidence ...

Payment On Account: Deferring the 31st July Tax Payment

UK taxpayers with a liability of more than £1,000 for the year are often required to make a payment on account ...

Have You Forgotten Your Capital Gains Tax Return?

So many people have forgotten about the 30-day filing and payment deadline for Capital Gains Tax during the lockdown ...

SDLT: Stamp Duty Land Tax Surcharge On Derelict Properties

If you've bought a derelict property since March 2016, you may be due a rebate if you paid Stamp Duty Land Tax ...

Remember To File Your Employment Related Securities Return

The 2019/20 tax year is over and there are filings that need to be made, including the Employment Related Securities return ...

Second Self-Employed Income Support Scheme Announced

I was heartened to hear that many will receive another payment from the Self-Employed Income Support Scheme ...

HMRC Wins In-Specie Pension Contributions Appeal

In a recent Upper-Tier Tribunal decision, HMRC was permitted to deny tax relief on some in-specie pension contributions ...

Extension To Time Limit To Notify HMRC Of An Option To Tax

We live in interesting times right now, so it's nice that HMRC has given us a break with the option to tax time limit ...

HMRC Loses Another Employment Status Case

HMRC appeals a lot of employment status cases, but one came to light recently where HMRC lost its appeal ...

Working From Home: What Tax Reliefs Are Available?

Working from home is something many of us have been subject to during the UK-wide Coronavirus lockdown ...

Update On The Trust Registration Service (TRS)

I've already written about the upcoming changes to the Trust Registration Service, but here's an update ...

Update On Capital Gains Tax And Property

I thought I would summarise the changes announced to Capital Gains Tax Relief for your Principal Private Residence ...

Update On The Self-Employed Income Support Scheme

The Government recently published further guidance on the new Self-Employed Income Support Scheme ...

Coronavirus Job Retention Scheme Portal Opens On 20 April!

HMRC has announced plans to open the new online Coronavirus Job Retention Scheme (CJRS) service on the 20th April ...

Support For Operators Of FHLs And Serviced Accommodation

There have been a number of measures announced by the Government to support businesses across the country ...

The Coronavirus Job Retention Scheme Explained

HMRC released much more detailed guidance on the Coronavirus Job Retention Scheme (CJRS) last week ...

HMRC Time To Pay Arrangements To Help Taxpayers

Time To Pay (TTP) arrangements extend payment deadlines for taxpayers in financial distress due to Coronavirus ...

Stamp Duty Land Tax: Surcharge For Non Resident Purchasers

The Chancellor has confirmed a Stamp Duty Land Tax (SDLT) surcharge coming into effect on the 1st April 2021 ...

Entrepreneurs' Relief: Do You Charge Your Company Rent?

It's common for directors to own their business premises. This is because it's sometimes cheaper to buy than to rent ...

End Of Year Tax Planning Checklist

As we approach the end of the current tax year, it's worth giving some consideration to end of year tax planning ...

Jointly Owned Property And The Use Of HMRC Form 17

Surely, if a rental property is owned as tenants in common and the split is 70:30, this is what we can declare on our tax return, right?

The 2020 Annual Tax on Enveloped Dwellings Filing Deadline

A limited company, registered in the UK or not, has to pay Annual Tax on Enveloped Dwellings on UK residential property ...

Should I Make A Disclosure To HMRC?

A number of people have approached me recently, to help them with making a disclosure to HMRC ...

An Accountant Or A Tax Advisor

Accountants are the mainstay of the business world, but not everyone has a tax advisor. I think they're missing out ...

Changes To The Trust Registration Service

New trusts, created on or after 1st April 2020 need to be registered under the TRS within 30-days of creation ...

Government To Make Changes To The Loan Charge

The findings from an independent review into the Loan Charge include a series of middle-ground reforms ...

Company Car Tax Changes In 2020

There are a number of changes happening to company car tax rules in 2020. Here's how you may be affected ...

Time Is Running Out For Tax Planning Opportunities

As we start 2020 and the new decade, our attention turns to the fact that the 5th of April is fast approaching ...

Can My Limited Company Pay My Mortgage?

You may have heard of salary sacrifice arrangements, but be careful if you want your company to pay your mortgage ...

Wishing You All A Very Merry Christmas

With most of us finishing for the holidays this week, I thought I'd join the festivities and let you have some tax trivia ...

Have You Declared Pension Growth On Your Tax Return?

If you're a high-earner, you could be hit with a huge tax bill for failing to report any pensions growth on your tax return ...

Treating Your Staff And Customers At Christmas

Christmas is fast approaching, and many business owners think about treating their staff and customers at this time of year ...

How To Extract Profits From Your Limited Company

There are a couple of ways to extract profits from your limited company, through a mix of dividends and salary ...

IR35 Employment Status: Contractor Or Employee?

The CEST assessment is designed to determine your IR35 employment status. What can you expect to happen?

Tribunal Considers What Is A Property Development Trade

Brexit has hit property development hard. Homes have failed to sell and agents are recommending drastic measures ...

Brexit: What Are The Potential Tax Consequences?

While the post-Brexit financial landscape remains in flux, it is possible to make some educated guesses ...

Capital Gains Tax: PPR And The Main Residence Election

Gains made on the disposal of a property can be exempt from Capital Gains Tax if it is, or was, the owner's main residence ...

Taxman Wins Landmark IR35 Case Against BBC Presenters

HMRC has won a landmark IR35 tribunal, this time against three BBC presenters at the high court ...

Inheritance Tax: Is It Time For A Change?

The OTS has given its second report to Parliament, recommending simplification of Inheritance Tax ...

Builders: A Useful VAT Concession In A Recession

Builders should know of a valuable VAT concession which could save many construction companies from failing ...

Ownership Of A Company's Business Premises

In certain cases, the business premises traded from will be owned by one or more of the company's shareholders ...