08-10-2019
Changing your company’s year end
There are special rules in place which limit your options to change your company’s year-end date. A company’s year-end date is also known as its ‘accounting … read more
08-10-2019
What is the Inheritance Tax residence nil rate band?
The Inheritance Tax residence nil-rate band (RNRB) came into effect on 6 April 2017. The RNRB is a transferable allowance for married couples and civil partners (per person) when … read more
08-10-2019
What is Capital Gains Tax incorporation relief?
If you own a business as a sole trader or in partnership, a Capital Gain will arise if your business is transferred into a company structure. The gain will be assessed by reference … read more
08-10-2019
Overdrawn directors’ loans
An overdrawn Director’s Loan Account is created when a director (or other close family members) 'borrows' money from their company. Many companies, particularly … read more
08-10-2019
When overseas companies need to register at Companies House
An overseas company must register with Companies House if they want to set up a place of business or branch in the UK. Generally, this would be if the overseas company had a … read more
08-10-2019
Objecting to a limited company being struck off
There are a limited range of circumstances when a company can request to be removed from the register (known as being struck off). For example, a voluntary strike off can be … read more
02-10-2019
Post Brexit funding announced
The Chancellor is set to announce a new package of measures to help the UK prepare for a post-Brexit future. We are told that these measures will also help to support the next … read more
02-10-2019
Residential landlords’ tax changes complete April 2020
The tax relief on finance costs used to buy investment properties is being gradually restricted to the basic rate of tax. The full finance costs restriction will be in place from 6 … read more
02-10-2019
Making a loss when you sell your home?
One of the most often used and valuable of the Capital Gains Tax (CGT) exemptions is Private Residence Relief, which usually exempts any profit made on the sale of a family … read more
02-10-2019
Changes to off-payroll working from April 2020
The rules for individuals providing services to the public sector via an intermediary such as a Personal Service Company (PSC), changed from April 2017. The new rules shifted the … read more
02-10-2019
Gifts to spouse or charity
There is usually no Capital Gains Tax (CGT) to be paid on the transfer of assets to a spouse or civil partner. There is, however, still a disposal that has taken place for CGT … read more
02-10-2019
When NIC credits can be claimed
National Insurance credits can help qualifying applicants to fill gaps in their National Insurance record. This can assist taxpayers to build the amount of qualifying years of … read more
25-09-2019
NIC after State Pension Age
If you have reached the State Pension age and continue to work in most cases, you no longer need to pay National Insurance Contributions (NICs).
At State Pension age, the … read more
25-09-2019
To-do list if selling your business
If you are selling your business, there are some important actions you must take in order to properly finalise your affairs. We have summarised below some of the main steps you … read more
25-09-2019
Tax for provision of parking spaces
There are some important rules to be aware of if you provide parking spaces to your employees. If the parking places you provide are at, or near your employee’s workplace, … read more
25-09-2019
Brexit and making an EU VAT refund claim
The VAT paid in other EU countries is often recoverable by VAT-registered businesses in the UK, who bought goods or services for business use. The exact rules that govern what VAT … read more
25-09-2019
Brexit and VAT Mini One Stop Shop
HMRC has confirmed that after Brexit, you will not be able to use the UK’s VAT Mini One Stop Shop (MOSS) to declare and pay VAT. The final return period for the UK’s … read more
25-09-2019
Basis periods – the general rules
A basis period is the time period for which the self-employed or partnerships pay tax in each tax year. The general rule is that the profits for a tax year are those arising in the … read more