Blog

Reviewing Your PAYE Settlement Agreement For COVID-19

Employers meet the tax on benefits and expenses for an employee using a PAYE Settlement Agreement ...

P11D: Focus On Staff Entertaining

Accountants are noticing an increasing number of enquiries from HMRC about the amounts spent on entertaining staff ...

What CGT Is Payable On The Sale Of A Property Post-Death?

CGT has a tax-free uplift to a property's valuation on the sale of a property post-death. The value for CGT is reset ...

Why Didn't The Annexe Qualify As A Separate Dwelling?

A tribunal considered whether a 6-bed home with annexe should be treated as one for Multiple Dwellings Relief ...

Period Of Grace Elections For Furnished Holiday Lettings

When a property qualifies as a Furnished Holiday Letting (FHL), they become subject to special tax rules ...

The Non-Resident Test For Employees Stranded In The UK

Trade bodies have consulted with the Treasury on difficulties faced by those stranded in the UK during the pandemic ...

Treasury Consultation On New Property Developer Tax

The Property Developer Tax was announced when the Government pledged to fund cladding replacement ...

Remember To File Your Employment Related Securities Return

The submission deadline for your company's Employment Related Securities return is fast approaching ...

COVID Loss Relief Carry Back Extension

A welcome extension of loss relief carry-back for companies, sole traders and partnerships has been announced ...

Investors' Relief: Attracting Investment Into Business

For shares acquired from the 17th of March 2016, Investors' Relief ensures investors pay 10% Capital Gains Tax ...

HMRC Sends Out Self-assessment Verification Letters

Some taxpayers are receiving self-assessment verification letters from HMRC requesting more information ...

How A Cryptocurrency Is Taxed In The United Kingdom

You need nerves of steel to invest in a cryptocurrency. You also need to know how cryptocurrency is taxed in the UK ...

Stamp Duty Land Tax On Uninhabitable Properties

Another day, another taxpayer at a tribunal. This time, due to the purchase of a dilapidated bungalow ...

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 ...

Capital Gains Tax On Divorce

Are you going through a divorce? Be conscious of the Capital Gains Tax consequences of your split ...

What Are The Benefits Of An Employer-Provided Electric Car?

Many commercial travellers have a company car which tend to be changed every 18 months, depending on mileage ...

ATED: Annual Tax On Enveloped Dwellings Deadline

Are you due to submit your Annual Tax on Enveloped Dwellings (ATED) soon? You may need to even with no tax due ...

Update On SDLT For Non-Residents Buying UK Property

HMRC has updated its information about the Stamp Duty Land Tax (SDLT) surcharge for non-residents ...

The Delayed Domestic Reverse Charge For VAT

I originally wrote about the Domestic Reverse Charge For VAT back in 2019, but it was delayed until this year ...

HICBC: The High Income Child Benefit Charge Threshold

A Low Incomes Tax Reform Group in the UK, has urged the Government to raise the HICBC threshold ...

HMRC Suspends Filing Penalties Until 28 February

HMRC has announced a last-minute change to filing tax returns benefitting up to 3 million individuals ...

IR35: Off-Payroll Working In The Private Sector

As of the 6th April 2021, the Government has introduced new IR35 rules for individuals who offer services to businesses ...

The Statutory Residence Test And COVID-19 Restrictions

Because of travel restrictions, lockdowns and quarantines, an individual may stay in the UK longer than they planned ...

Taxation Of Serviced Accommodation

Buy-to-let landlords are looking to convert their traditional buy-to-let properties into serviced accommodation ...

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 ...

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 ...

Capital Gains Tax: Proposed Changes Could Affect Share Sales

The OTS has released a report highlighting areas of disparity between Income Tax and Capital Gains Tax ...

HMRC Proposed Changes To Tackle CIS Abuse

A policy paper has been published by HMRC, covering a range of updates to the Construction Industry Scheme (CIS) ...

How To Have A Christmas Party In 2020

Thanks to the Coronavirus pandemic, the office Christmas party is mostly not happening this year ...

Inheritance Tax: Gifts Out Of Income A Very Valuable Relief

Out of all the tax reliefs and exemptions, probably the most generous of them all is this Inheritance Tax exemption ...

HMRC's Let Property Campaign

Did you know about the Let Property Campaign? It is a lifeline for landlords who may not have realised that tax is due ...

The Coronavirus Pandemic And Unplanned UK Workdays

The pandemic meant non-UK residents stranded in the country had to undertake unplanned UK workdays ...

Car Or Van? Court Finds In Favour Of HMRC

When working out a benefit in kind, it can sometimes be difficult to decide if the vehicle you are looking at is a car or van ...

Transferring Business Assets On Divorce

HMRC recently issued new guidance on their views on reliefs available when transferring business assets on divorce ...

Should You Register As Self-Employed Or A Limited Company?

I'm often asked whether being self-employed or a limited company is the best way to start out in business ...

Airbnb Exchanges Information With HMRC

It was recently announced that Airbnb has started to share information with HMRC about rental incomes ...

Mitigating Property VAT Costs For Landlords

Lockdown saw a major decline in the use of commercial premises, with everyone working from home ...

Important Update To The Trust Registration Service

The Trust Registration Service may be a one-off event, but you need to keep your registration up to date ...

Have You Overpaid Stamp Duty Land Tax?

Most property transactions incur Stamp Duty Land Tax, but often you may not pay the correct amount of tax ...

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 ...