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17-04-2019
Tenth anniversary of first Debt Relief Order

Tenth anniversary of first Debt Relief Order

Debt Relief Orders (DROs) were first introduced in April 2009. The DROs assist people who have small levels of assets and insufficient surplus income to deal with debts under … read more

16-04-2019
Estate Agents targeted

Estate Agents targeted

HMRC has launched an unannounced crackdown on money laundering regulation non-compliance by estate agents. This clampdown resulted in over 50 visits by HMRC staff to estate agents … read more

16-04-2019
Job related expenses you can claim against your tax

Job related expenses you can claim against your tax

If you are an employee and use your own money to buy things that you need for your job, you may be able to claim tax relief for the associated costs. It is usually only possible to … read more

16-04-2019
Welsh Income Tax takes effect

Welsh Income Tax takes effect

The start of the 2019-20 tax year marked a fundamental change to the way Income Tax is calculated for people who live in Wales. The new Welsh rates of Income Tax (WRIT) are payable … read more

16-04-2019
Let Property Disclosure Campaign

Let Property Disclosure Campaign

The Let Property Campaign provides landlords who have undeclared income from residential property lettings in the UK or abroad with an opportunity to regularise their affairs by … read more

16-04-2019
Outline of special rules for use of vouchers and credit tokens

Outline of special rules for use of vouchers and credit tokens

HMRC’s Employment Income Manual is clear that there are special rules when an employee receives goods or services by reason of their employment, that the employee does not … read more

16-04-2019
What is domicile?

What is domicile?

Domicile is a general legal concept which in basic terms is taken to mean the country where you permanently belong. However, determining domicile status can be complex. In fact, … read more

16-04-2019
The VAT concept of business

The VAT concept of business

The VAT system is policed by HMRC and there can be heavy penalties for breaches of the legislation.

There are four conditions that must be satisfied in order for an activity to be … read more

15-04-2019
New guidance on the impact of Brexit on workplaces

New guidance on the impact of Brexit on workplaces

Acas has published new general guidance to assist employers and employees in understanding the impact that Brexit may have in their workplace and it gives advice regarding the … read more

11-04-2019
Right to work checks for EU nationals after Brexit

Right to work checks for EU nationals after Brexit

The government has published new guidance which confirms that, once the UK leaves the EU and whether this is with a deal or not, there will be no change to the way EU, EEA and … read more

11-04-2019
Capital expenditure for property businesses

Capital expenditure for property businesses

There are different rules which apply to different types of capital expenditure for a property business. One of the main areas to consider in deciding whether a repair is a … read more

10-04-2019
Dormant assets scheme expanded

Dormant assets scheme expanded

Under the current scheme, banks and building societies transfer the money held in dormant accounts to a central reclaim fund. The reclaim fund is responsible for managing dormant … read more

10-04-2019
Latest advice from government if we leave the EU

Latest advice from government if we leave the EU

Although the EU have now extended the deadline to agree the withdrawal agreement – to 31 October 2019 – there is still a chance we will exit with a no-deal outcome.
In a pamphlet … read more

10-04-2019
Child Benefit Tax Charge

Child Benefit Tax Charge

The High Income Child Benefit charge applies to taxpayers whose income exceeds £50,000 in a tax year and who are in receipt of child benefit. The charge claws back the financial … read more

10-04-2019
Late filing penalty notices delayed

Late filing penalty notices delayed

In an agent update published earlier this year HMRC wrote that as part of EU Exit contingency planning, a change would be made to the timings for sending notification of Self … read more

10-04-2019
Corporation Tax loss relief for losses carried forward

Corporation Tax loss relief for losses carried forward

Corporation Tax relief may be available where your company or organisation makes a trading loss. The loss may be used to claim relief from Corporation Tax by offsetting the loss … read more

10-04-2019
The meaning of trade for tax purposes

The meaning of trade for tax purposes

Interestingly, there is no statutory definition of ‘trade’. The only statutory reference to the term states that ‘trade’ includes a ‘venture in the nature of trade’. This absence … read more

10-04-2019
VAT Fuel Scale Charges

VAT Fuel Scale Charges

The new VAT road fuel scale charges have been published. The changes amend the VAT scale charges for taxing private use of road fuel to reflect changes in fuel prices.
The new … read more

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    The Accountancy Practice is a Kent based firm specialising in small and medium sized businesses. We provide a friendly, professional service and regard our smallest client as important as our largest.
  • Latest News

    17-04-2019
    Tenth anniversary of first Debt Relief Order

    Debt Relief Orders ... read more

    16-04-2019
    Estate Agents targeted

    HMRC has launched an ... read more

    16-04-2019
    Job related expenses you can claim against your tax

    If you are an ... read more

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