16-01-2019
Don’t overclaim for equipment purchases
You can use the Annual Investment Allowance (AIA) to claim a very generous 100% first year tax relief for qualifying expenditure on plant and machinery. The allowance is available … read more
16-01-2019
Reducing payments on account
Taxpayers are usually required to pay their Income Tax liabilities in three instalments each year. The first two payments are due on:
31 January during the tax year e.g. for … read more
16-01-2019
Could you claim the Marriage Allowance?
If you or your partner are a low earner or not working, then you may be eligible for the marriage allowance. The marriage allowance allows lower earning couples to share part of … read more
16-01-2019
Carry back 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 backup tax return entries. Donations that are … read more
16-01-2019
Remaining age related tax allowances
Most age related tax allowances have been phased out. However, the Married Couple’s Allowance (MCA) is available to elderly married couples or those in a civil partnership where at … read more
16-01-2019
Tax if clients leave the UK to live abroad
The P85 form should be completed by individuals or their agents to advise HMRC that have left the UK to live or are going to work abroad for at least one full tax year.
The … read more
09-01-2019
Automatic enrolment for the self-employed?
The government has confirmed that they are to examine a number of different approaches to help encourage the self-employed to save for their retirement. The success of automatic … read more
09-01-2019
New ‘global’ pound coin
HM Treasury has confirmed that the £1 coin will be going global. This announcement means that the UK’s Overseas Territories and Crown Dependencies will be able to design and mint … read more
09-01-2019
Check if your Holiday let property is qualifying
The Furnished Holiday Let (FHL) rules, allow holiday lettings of properties that meet certain conditions to be treated as a trade for some specific tax purposes.
In order to … read more
09-01-2019
Register a company and register for tax
A new one-stop service to register a company and register for tax at the same time has been used by more than 200,000 businesses since it was introduced. The introduction of the … read more
09-01-2019
Changes to a building after the VAT option to tax
There are special VAT rules that allow businesses to standard rate the supply of most non-residential and commercial land and buildings (known as the option to tax). This means … read more
09-01-2019
Cash basis option for landlords
The cash basis scheme helps sole traders and other unincorporated businesses benefit from a simpler way of managing their financial affairs. The scheme was extended to landlords … read more
09-01-2019
Genuine messages from HMRC
HMRC has issued an updated version of their online guidance on Genuine HMRC contact and recognising phishing emails and texts. The guidance provides a current list of genuine … read more
02-01-2019
Did you file your tax return Christmas Day?
A new press release by HMRC has highlighted that 2,616 taxpayers took the time to file their tax return online on Christmas Day with a further 8,465 taxpayers completing their tax … read more
02-01-2019
Don’t forget to pay your tax at the end of the month
The 31 January 2019 is not just the final date for submission of your self assessment tax return but also an important date for payment of tax due. This is the final payment … read more
02-01-2019
Paying young people and children
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. … read more
02-01-2019
Finance Bill delay
The government published Finance (No.3) Bill 2017-19 on Wednesday, 7 November 2018. The Bill is so named as it is the third Finance Bill in the current special two-year session of … read more
02-01-2019
Merchandise in Baggage
There are special customs requirements for commercial goods or samples which are imported or exported by passengers in their accompanied baggage (hand carried). This is known as … read more