NEWSLETTER ARTICLES

 

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14-02-2018
Appealing to a tax tribunal

Appealing to a tax tribunal

There are a number of different options open to taxpayers that disagree with a tax decision issued by HMRC. The first step is to make an appeal to HMRC against the tax decision. If taxpayers do not ... read more

14-02-2018
Does a charity pay tax?

Does a charity pay tax?

The tax treatment of charities can be very complex. As a first step any charity hoping to benefit from any beneficial treatment needs to be recognised as a charity for UK tax purposes by HMRC as well ... read more

14-02-2018
Pay and paternity leave

Pay and paternity leave

When your partner gives birth or when you adopt a child or have a baby by surrogate, you may be entitled to 1 or 2 weeks paternity leave and paternity pay. You are also entitled to take a small amount ... read more

14-02-2018
What to do if you have stopped work

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 covers the main reasons that you might have stopped work such as being made redundant or leaving ... read more

14-02-2018
Can you change a Will after death?

Can you change a Will after death?

One might expect that the answer to this question would be a definitive no. However, under certain circumstances a will can actually be changed after death. This is done by using what is known as a ... read more

14-02-2018
How to get proof of employment history

How to get proof of employment history

A special employment history request can be submitted by taxpayers for those needing to make a claim for compensation. The form is usually used for claims relating to industrial injuries, road traffic ... read more

14-02-2018
Tax-Free Childcare available now

Tax-Free Childcare available now

The Tax-Free Childcare Scheme (TFCS) was launched in April 2017 to the first tranche of working parents. The scheme was initially made available to working parents of children aged under 4 on 31 ... read more

12-02-2018
Draft regulations to increase the national minimum wage published

Draft regulations to increase the national minimum wage published

The draft National Minimum Wage (Amendment) Regulations 2018 have been laid before Parliament and are due to come into force on 1 April 2018. The regulations will increase the various rates of the ... read more

07-02-2018
10.7m tax payers filed before the deadline

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 assessment returns. The use of the online service continues to grow year on year. In this year a total ... read more

07-02-2018
Income from selling services online

Income from selling services online

Many taxpayers supplement their income by selling services online. This is often known as the 'sharing economy' or the 'peer-to-peer economy' and usually involves taxpayers renting out something they ... read more

07-02-2018
Delaying tax with rollover relief

Delaying tax with rollover relief

Rollover Relief is a valuable relief that allows for a delay in the payment of Capital Gains Tax (CGT) on gains when you sell or dispose of certain assets and use all or part of the proceeds to buy ... read more

07-02-2018
Text message scammers stopped by HMRC

Text message scammers stopped by HMRC

HMRC has published a news release to explain how they are working to stop taxpayers receiving fraudulent text messages from reaching their phones. Scammers have been found to be using text message or ... read more

07-02-2018
Paying NIC if you go abroad

Paying NIC if you go abroad

If you move abroad it can be advantageous to continue paying UK National Insurance Contributions (NICs) in order to preserve your entitlement to the State Pension and other benefits. If you are ... read more

07-02-2018
Tax consequences of importing vehicle into the UK

Tax consequences of importing vehicle into the UK

The Notification of Vehicle Arrivals (NOVA) is an online notification system for vehicles entering the country for permanent use on UK roads. There is a separate process for personal imports from ... read more

05-02-2018
Retailers encouraged to employ more disabled workers

Retailers encouraged to employ more disabled workers

The Minister for Disabled People, Health and Work has launched a new campaign to encourage more retail employers to sign up to its trailblazing “Disability Confident” employer scheme, to increase the ... read more

05-02-2018
DBS updates identity checking guidelines

DBS updates identity checking guidelines

The Disclosure and Barring Service (DBS) has introduced new identity checking guidelines for standard and enhanced disclosure checks. The new guidelines have been running in parallel with the previous ... read more

31-01-2018
A reminder to consider a carry back of charitable contributions

A reminder to consider a carry back of charitable contributions

Donations to charity over the course of a tax year can add up and taxpayers must ensure they keep a proper record of all donations to record them on their tax return. Donations that are made through ... read more

31-01-2018
Nominating a home for tax purposes

Nominating a home for tax purposes

As a general rule there is no CGT payable on the disposal of a property which has been used as the main family residence. Conversely, an investment property which has never been used will not qualify ... read more

31-01-2018
Reasonable excuse for late filing of your tax return

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 automatic £100 penalty for late submission. The penalty applies from 1 February 2018 even if no tax ... read more

31-01-2018
Did you file before the deadline?

Did you file before the deadline?

HMRC revealed that, as of 24 January 2018, there remained over 3 million taxpayers who had not yet submitted their 2016-17 self-assessment returns. This left a lot of people with a lot of work to do ... read more

31-01-2018
Seconding employees to a charity

Seconding employees to a charity

There are special rules in place when a limited company gives to a charity. This can include Corporation Tax relief for certain donations made to registered charities or community amateur sports club ... read more

31-01-2018
Claiming tax relief for uniforms, work clothing and tools

Claiming tax relief for uniforms, work clothing and tools

Employees who use their own uniforms, work clothing and tools for work can sometimes claim tax relief for the associated costs. It is possible to claim for the cost of repairing or replacing small ... read more

29-01-2018
Businesses urged to prepare for stronger data protection laws

Businesses urged to prepare for stronger data protection laws

Following the publication of new government research which shows that fewer than half of businesses are aware of forthcoming new data protection laws, the government has urged businesses to act to ... read more

24-01-2018
Support for Carillion subcontractors

Support for Carillion subcontractors

HMRC has published a press release following the financial collapse of Carillion. Given the current uncertainty for subcontractors, HMRC understands that some businesses will be experiencing problems ... read more

24-01-2018
Aliens, vertigo and other excuses

Aliens, vertigo and other excuses

A recent press release by HMRC revealed some of the oddest excuses for submitting a late tax return. The excuses ranged from the sublime to the ridiculous and included: I couldn’t file my return on ... read more

24-01-2018
Why the cash basis may not suit your business

Why the cash basis may not suit your business

The cash basis scheme helps many sole traders and other unincorporated businesses benefit from a simpler way of managing their financial affairs. The scheme is not open to limited companies and ... read more

24-01-2018
Sign up for email alerts from Companies House

Sign up for email alerts from Companies House

A new email alerts service has been launched by Companies House. The new alert service covers a range of subscription topics and should not be confused with the email reminder service, which advises ... read more

24-01-2018
Fish and chip shop directors banned

Fish and chip shop directors banned

A recent investigation by the Insolvency Service has seen two married restaurant directors disqualified for a total of 5 years each. The Directors of Gambino Fish Ltd trading as Quality Fish, were the ... read more

24-01-2018
Claiming for use of office and related costs

Claiming for use of office and related costs

The self-employed are often concerned regarding expenses they can claim. In this article, we will briefly look at the rules for claiming expenses relating to office, property and equipment. You cannot ... read more

23-01-2018
Tax Diary February/March 2018

1 February 2018 - Due date for corporation tax payable for the year ended 30 April 2017. 19 February 2018 - PAYE and NIC deductions due for month ended 5 February 2018. (If you pay your tax ... read more

22-01-2018
New DBS basic disclosure service goes live

New DBS basic disclosure service goes live

From 17 January 2018, individuals who need to obtain a basic disclosure check for a job in England and Wales should apply to the Disclosure and Barring Service (DBS), not to Disclosure Scotland. The ... read more

22-01-2018
Statutory payment rates for tax year 2018/19 confirmed

Statutory payment rates for tax year 2018/19 confirmed

Following the written ministerial statement published in November 2017 announcing the proposed new rates for statutory maternity pay (SMP), statutory adoption pay (SAP), statutory paternity pay (SPP), ... read more

18-01-2018
A reminder of ways you can pay tax due

A reminder of ways you can pay tax due

Last week we confirmed that as from 13 January 2018, HMRC will not accept personal credit cards for payment of tax or penalties. We have listed below the payment options you still have available to ... read more

18-01-2018
Buying a rental property?

Buying a rental property?

The removal of the 10% wear and tear allowance that allowed landlords to reduce the tax they paid on furnished property lets (after the end of the 2015-16 tax year) was a significant loss for many ... read more

18-01-2018
Projects that count as R & D for tax purposes

Projects that count as R & D for tax purposes

Research and development (R&D) tax credits were introduced for small and medium sized enterprises (SMEs) in 2000 and for large companies in 2002. R&D credits are a corporation tax relief to ... read more

18-01-2018
Salary sacrifice examples of tax consequences

Salary sacrifice examples of tax consequences

The tax and NIC advantages of certain benefits provided as part of a salary sacrifice arrangement were removed from 6 April 2017. The new rules effectively remove the Income Tax and employer NIC ... read more

18-01-2018
What to consider when employing family, young people and volunteers

What to consider when employing family, young people and volunteers

When a new employee is added to the payroll it is the employers’ responsibility to ensure they meet the employees’ rights and deduct the correct amount of tax from their salary. This includes any ... read more

18-01-2018
What is the herd basis?

What is the herd basis?

There are special rules which can apply to farmers and market gardeners that prepare their accounts on an accruals basis. This includes special rules for farmers’ averaging relief, dealing with losses ... read more

10-01-2018
Splitting a business to save VAT

Splitting a business to save VAT

The artificial separation of businesses (also known as disaggregation) happens when a business with two or more activities (for a public house this could be the sale of drinks and the sale of food) ... read more

10-01-2018
Holiday let property – reminder to check your occupancy stats

Holiday let property – reminder to check your occupancy stats

The furnished holiday let (FHL) rules allow holiday lettings of properties that meet certain conditions to be treated as a trade and therefore qualify for additional tax benefits. In order to ... read more

10-01-2018
Who is entitled to claim statutory maternity pay?

Who is entitled to claim statutory maternity pay?

Employees that are pregnant are eligible to take up to 26 weeks of maternity leave (known as ordinary maternity leave) plus an additional 26 weeks (known as additional maternity leave). This means ... read more

10-01-2018
The end of credit card payment surcharges?

The end of credit card payment surcharges?

From 13 January 2018, it will become illegal for any business to charge a fee in addition to the advertised price of a transaction to consumers (widely known as surcharging). For example, a travel ... read more

10-01-2018
Basic monthly tasks if you run your own payroll

Basic monthly tasks if you run your own payroll

One of the most time-consuming admin tasks associated with the running a small business can be dealing with the payroll. Generally speaking, you can: Run your own in-house payroll, or Hire your ... read more

10-01-2018
Can we claim for marketing, entertainment and subscription costs?

Can we claim for marketing, entertainment and subscription costs?

The self-employed are often concerned if an expense is allowable or not for tax purposes. In this article, we will briefly look at the rules for claiming marketing, entertainment and subscription ... read more

08-01-2018
Changes to approved English apprenticeships

Changes to approved English apprenticeships

The Apprenticeships (Miscellaneous Provisions) Regulations 2017, which only apply in relation to England, came into force on 15 January 2018. The new Regulations: make it a requirement that ... read more

03-01-2018
Beware iTunes gift card scam

Beware iTunes gift card scam

HMRC is warning members of the public of a worrying iTunes gift card scam. The fraudsters are cold calling victims purporting to work for HMRC and warning them that they owe HMRC large amounts of tax ... read more

03-01-2018
Staircase tax to be reversed

Staircase tax to be reversed

The Government has announced that the business rates anomaly known as the ‘staircase tax’ is to be axed. The 'staircase tax' affects businesses that operate in adjoining units or rooms, but are ... read more

03-01-2018
Relief if you let and then sell your home

Relief if you let and then sell your home

One of the most often used and valuable of the capital gains tax (CGT) exemptions concerns the sale of the family home. As a general rule there is no CGT on a property which has been used as the main ... read more

03-01-2018
Fair payment practices for small businesses

Fair payment practices for small businesses

In October 2017, Paul Uppal (a former Conservative MP and entrepreneur) was appointed to the newly-established post of Small Business Commissioner (SBC) based in Birmingham. At the time, it was ... read more

03-01-2018
VAT when business transferred as a going concern

VAT when business transferred as a going concern

The transfer of a business as a going concern (TOGC) rules concern the possible VAT liability resulting from the sale of a business. Normally the sale of the assets of a VAT registered or VAT ... read more