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Autumn Budget 2017 – Key Points for Small Business Owners

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Our newsletter this month includes: a note of changes announced in the recent Budget regarding small businesses and personal tax payers; a reminder that directors of companies and members of partnerships have new anti-tax evasion obligations, and background information about new data protection regulations. The Budget – small business update Notable changes are listed below: […]


Autumn Budget 2017: Key policy points and highlights

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Autumn Budget 2017 Prospects for growth, especially for productivity have been downgraded, but the Chancellor was bullish in his forecasts for investment and the Government’s intention to sort out the slow pace of house building in the UK. A few non-tax comments of note were: Unemployment at its lowest rate since 1975. Chancellor is providing […]


Review of recent forecasts regarding the Forthcoming Budget

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Our newsletter this month includes: a review of recent forecasts regarding the forthcoming Budget, a note of how to spread tax arrears under self-assessment, the carry back rules for charitable donations and a reminder that March year end companies will need to settle their corporation tax bill on or before 1 January 2018. The Budget […]


Tax exemptions, a reminder of forthcoming tax payments

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Tax exemptions, a reminder of forthcoming tax payments and the Our newsletter this month includes: a review of recent tax announcements, a discussion of Inheritance benefits of using the VAT Annual Accounting Scheme. Tax legislation Readers may be forgiven for finding the recent rash of announcements by HMRC, regarding possible changes to tax legislation, rather […]


Common misconceptions about tax and letting property

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Our newsletter this month includes: a list of commonly overlooked situations regarding the disclosure of rental income, the dual aspects of claiming VAT bad debt relief, claiming for professional subscriptions and obtaining evidence of earnings for mortgage purposes. Common misconceptions about tax and letting property HMRC has published a list of popular misconceptions that taxpayers […]


Tax relief for uniforms and other expenses

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Our newsletter this month includes: tax relief for uniforms and other expenses, possible changes to the tax rules for companies, the outcome of the Glasgow Rangers’ case concerning tax avoidance, the minimum salary levels for director shareholders to consider and an update on the Making Tax Digital process. Uniforms, work clothing and tools It is […]


HMRC’s Making Tax Digital (MTD) – are we making progress?

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Our newsletter this month includes: now the election is over what happens next in the Making Tax Digital saga, a discussion of the combined Income Tax and NIC payments facing the self-employed, tax changes for landlords and a recent tax case involving fines. Making Tax Digital – are we making progress? There is evidence that […]


Expenses and benefits for employees

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Our newsletter this month includes: a reminder for employers to make appropriate returns of benefits to HMRC, details of the changes to the driving test, the tax and NIC implications of making loans to employees, and expenses paid to employees for the business use of their own transport. Expenses and benefits for employees Until 2015-16, […]


HMRC’s Making Tax Digital for Business (MTDfB) 2017-18

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The new tax year starts on the day this newsletter is published, 6 April 2017. Philip Hammond has presented his spring budget and this month we are reviewing some of the issues he raised: Making Tax Digital, extension of the simplified cash basis for accounting, changes to Class 4 NICs and the reduction in the […]


Budget Statement 8 March 2017

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Pundits are mixed in their interpretation of the prospects for the UK economy as we approach the formal Brexit disengagement. They are keen to see encouragement for industry to invest and export rather than more of the same debt fuelled consumer expenditure. Has Philip Hammond succeeded in meeting these demands, and will he be able […]


Director Disqualified for Seven Years

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This month’s newsletter includes articles covering: help with consequences of storm damage, directors’ responsibilities to keep proper records, issues to consider if investing in plant or other equipment, and a warning not to respond to internet phishing. Storm damage Costs that businesses incur to clean up after the recent storms, that affected the north and […]


Tax planning and CGT planning opportunities for 2016-17

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This month’s newsletter includes articles covering: tax planning opportunities for 2016-17, the benefit of repaying an employer for company car private fuel, a list of the current advisory car fuel rates and a reminder of CGT planning options for 2016-17. Three months to go All UK taxpayers may benefit from pausing, taking a deep breath, […]


Mr Hammond surprised listeners to his Autumn budgets from 2018

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This month’s newsletter includes articles covering: changes to future Budget timetables, changes to salary sacrifice arrangements, changes to the Flat Rate Scheme, and increases in the National Living Wage and National Minimum Wage from April 2017. These are all extended updates on items included in the autumn statement last month. Autumn budgets from 2018 Mr […]


Philip Hammond Presented Autumn Statement on the 23 November

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Autumn statement 23 November 2016 The new incumbent at number 11 Downing Street, Philip Hammond, had his first opportunity to show us what he had in mind for the UK economy when he presented his autumn statement on the 23 November. The usual rash of speculation pointed to easing the predicament of the “just managing”, […]


If your hobby is a business that you need to declare to HMRC

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This month’s newsletter includes articles covering: when a hobby may be considered a business, rolling over taxable gains into replacement assets, a note of how long you need to keep tax records and current limits on claiming certain tax reliefs. When is a hobby a trade? We have received enquiries from a number of clients, […]


Jerome Anderson v HMRC – A football agent that loses an appeal

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This month’s newsletter includes articles covering: Jerome Anderson v HMRC – A football agent that loses an appeal; How to claim back VAT on pre-registration costs; How to claim back pre-incorporation costs; A few pointers that may highlight tax issues for home owners. Football agent loses tax appeal In a recent tax case, Jerome Anderson v […]


Claiming back VAT on a vehicle purchase

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This month’s newsletter includes articles covering: VAT reclaims for a vehicle purchase, a government pledge to cover EU grants and funding, a reminder for parents with high incomes that they may subject to the High Income Child Benefit Charge, and a brief description of recent HMRC court successes. Claiming back VAT on a vehicle purchase […]


A new broom: Philip Hammond has been appointed Chancellor of the Exchequer

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This month’s newsletter includes articles covering: Philip Hammond has been appointed Chancellor, action required by certain buy-to-let landlords, a recent court of appeal case, and lesser known facts about the Employment Allowance. A new broom Philip Hammond has been appointed Chancellor of the Exchequer as George Osborne returns to the backbenches. Mr Hammond has already […]


Is it better to file your Self Assessment tax return end of the tax year?

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This month’s newsletter includes articles covering: Filing strategy for the 2015-16 Self Assessment tax return, Allowable business expenditure, Transferring ISAs and spoof calls purporting to be from HMRC. Sooner or later? Is it better to file your Self Assessment tax return as soon as possible after the end of the tax year? You are not obliged to file your […]


How can you increase your Income Tax bands?

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This month’s newsletter includes articles covering: Expanding your Income Tax bands; More about the taxation of dividends; Possible Stamp Duty increases for home buyers; and What is a CT61? Expanding your Income Tax bands For the tax year 2016-17, most taxpayers are entitled to claim a tax-free personal allowance of £11,000 from their taxable income. […]


NIC Advantage for Retirement age Business People

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This month’s newsletter includes articles covering: NIC advantage for retirement age business people Lifetime gifts and Inheritance Tax What was in the budget Good news for farmers Retirement age NI bonus When you reach the State Retirement Age (SRA) you stop paying Class 1 NIC contributions if you are employed, and Class 2 contributions if […]


Stamp Duty to Increase an Additional 3% from April 2016

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What does the new tax year hold? Has George Osborne laid the foundations for achieving national solvency or are we on the rocky road to recession? The March 2016 budget seemed to indicate that austerity is still on the Treasury’s road map – balancing the books and reducing debt. Certainly, there were no major surprises. […]


Budget Statement 16 March 2016: Personal Tax and Miscellaneous Matters

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Budget 2016  Personal Tax and miscellaneous matters Personal Tax allowance Budget 2016: From 2016-17, there will be one Income Tax personal allowance regardless of an individual’s date of birth. For 2016-17 the allowance is set at £11,000, and For 2017-18 at £11,500 Income Tax rate bands The Chancellor confirmed his intention to remove taxpayers from […]


Incorporation vs self-employment

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We are moving ever closer to the end of the 2015-16 tax year, and the budget later this month is likely to endorse a number of changes that have already been announced. This month’s newsletter includes information regarding: the incorporation of property businesses, Incorporation vs self-employment, when should the self employed consider the incorporation of […]


Home Office to Landlords, the so-called Right to Rent checks

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Newsletter February 2016 This month’s newsletter includes the following articles: The introduction of the right to rent obligations Capital Gains Tax planning, Tax payments due 31 January 2016 National Living Wage later this year Right to Rent On 1 February 2016, the responsibility for ensuring that tenants have a right to live in the UK […]


Strange & Unusual Taxes Throughout History

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Throughout history there have been many strange, unusual, and weird taxes. Many of them were implemented to raise additional revenue, while the purpose of others was to promote social change. Here are some of the strangest ones: Ancient Taxes from Around the World In Ancient Egypt, cooking oil was taxed, and on top of that, […]


Valuation Office Agency Council Tax Refund Scams

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Warning, Bogus Council Tax Refund Scams The Valuation Office Agency has issued the following warning regarding persons or organisations claiming to be able to reduce your council tax band for a fee. “We are aware of a number of Council Tax refund scams that are currently operating around the country. Someone may telephone you, or […]


Stamp Duty for buyers of second homes or buy-to-let property in England

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A very happy and prosperous new year to our readers. This month’s newsletter includes articles that highlight some of the changes we can expect as 2016 progresses. It includes: the draconian increase in Stamp Duty for buyers of second homes or buy-to-let property in England and Wales after 1 April 2016; a move by HMRC […]


Landlords Despair: Taxation of Property Businesses

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Newsletter December 2015 This month’s newsletter includes articles that highlight the following: 1. Tax and business issues: tax changes for landlords 2. 30 December filing deadline, 3. Information on the launch of help to buy ISAs 4. Repaying employers for private fuel. 5. Tax Diary December 2015/January 2016 Landlords despair On the 8 July 2015, George […]


Autumn Statement 2015 – Key Announcements

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Spending Review and Autumn Statement 2015 has been set out to Parliament – here’s a conclusion of what was announced: Announcements for businesses Support for smaller businesses The Chancellor reported that the UK’s small and medium sized enterprises now employ 15.6 million people, up from 13.7 million in 2010. Over the last two years the […]


Despite the revelations, Volkswagen (VW) cars are still in demand

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This month’s newsletter includes articles that highlight the following tax and business issues: 1. The Volkswagen (VW) emission revelations. 2. A comment regarding revenues raised from Corporation Tax. 3. The approaching Self Assessment filing deadline. 4. A reminder that there are still reliefs to be claimed to reduce business rates. The Volkswagen – VW emissions […]


Salary v Dividend Changes, Details of the Personal Savings Allowance

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October’s  newsletter includes articles that highlight the following tax and business issues: salary v dividend changes, details of the personal savings allowance, changes to the advisory fuel rates. Salary v dividends conundrum In the last two editions of this newsletter we have outlined the impact of the changes to the taxation of dividends that will […]


Pay Tax on Dividends

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This newsletter includes articles that highlight the following business and tax issues: more on strategy to minimise the new dividend tax next year; heads up regarding a new Sunday trading review; information about the changes to vehicle excise duties from April 2017; and an article for owners of property in the EU. Dividend Tax As […]


Conservative Party promised to ease Inheritance Tax charge for home owners

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Newsletter August 2015 This month’s newsletter is the first published since the Summer Budget announcements on 8 July. We have included articles to highlight changes that will affect home owners, landlords, small businesses and high income earners making pension contributions. Home owners and IHT One of the tax issues that the Conservative Party promised to […]


Summer Budget Statement 8 July 2015

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Personal Tax and miscellaneous matters The Tax Lock The Government are to legislate to set a ceiling for increases to various taxes. This will ensure that they cannot rise above their 2015-16 levels for the duration of the current parliament. The taxes affected are: The main rates of Income Tax. The standard and reduced rates […]


Scottish Rate of Income Tax

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Newsletter July 2015 This month’s newsletter reviews the following topics. Business start-ups If you are an old hand at setting up a new business most of the content of this article will be a timely reminder of the issues you need to cover in your project to-do list. For first timers, use this article as […]


Lists the tax changes announced in the Finance Bill 2015

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Lists the tax changes announced in the Finance Bill 2015 that were deferred until after the election, a reminder to take a look at the pensions automatic enrolment process, how to recover pre-incorporation VAT. What is your business staging date? Pensions’ automatic enrolment is not going to go away. Businesses have begun to receive notification […]


Business and corporate tax changes from 1 April 2015

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May 2015’s newsletter lists the tax changes that became effective as from the 1st and 6th April 2015, a note on mileage allowance payments and the results of three recent tax cases. Personal tax changes from 6 April 2015 HMRC has kindly published a list of the tax changes that affect individuals from 6th April […]


Newsletter April 2015

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This month’s newsletter highlights two changes mooted by George Osborne in his recent Budget. We have also flagged up increases in the National Minimum Wage from October 2015 and the pro’s and con’s of the present relaxation in pension rules. Goodbye tax returns, hello digital accounts In an effort to streamline and simplify the administration […]


Newsletter February 2015

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This month’s newsletter articles are: a reminder of late filing penalties and how to appeal them, information for home based businesses in England and Wales regarding business rates, and notes of a recently decided VAT case that affects the zero rating of children’s clothing. Self Assessment late filing penalties The deadline for submitting your Self […]


Newsletter January 2015

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Happy New Year 2015 This month’s newsletter provides you with four tax ideas to add to your resolutions for 2015: planning before your business year end; reasons for tackling your Self Assessment return sooner rather than later; tax planning ideas if your income is approaching £100,000; and a new initiative to top up your State […]


Newsletter December 2014

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Newsletter December 2014 This month’s newsletter includes:  ACAS’s comments on a recent case regarding the calculation of holiday pay, a reminder that filing a 2014 paper tax return now will cost you £100 penalty, an update regarding tax summaries being distributed by HMRC and a reminder of an approaching deadline if you want to pay […]


Autumn Statement – 3 December 2014.

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Autumn Statement – 3 December 2014. George Osborne has delivered his last Autumn Statement of this Parliament. As expected, he was bullish about the state of the nation’s finances and seems committed to maintaining a steady reduction in borrowing. Nevertheless, the temptation to include a few sweeteners, prior to the 2015 general election, were in […]


Newsletter November 2014

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Newsletter November 2014 This month’s newsletter includes: a reminder of the tax and VAT consequences of having an annual staff party, new rules proposed to cap charges made for administering pension funds, rent-a-room relief and a reminder of the new minimum wage rates from October 2014. Our next newsletter will be published Thursday, 4 December […]


Newsletter October 2014

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Newsletter October 2014 This month’s newsletter includes: a reminder of costs that are covered by the landlord’s wear and tear allowance; a note that HMRC are delaying the implementation of penalties for smaller business employers; a reminder of the various small business rates reliefs available; and finally, the announced date for the Autumn Statement 2014. […]


Newsletter September 2014

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Newsletter September 2014 This month’s newsletter includes: an update on new support for home based businesses; tax incentives to support cycling; an update on proposals to give HMRC access to your bank account; and extracts from HMRC’s Charter. New support for home based businesses It is estimated that seven out of ten small businesses are […]


Newsletter August 2014

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Newsletter August 2014 This month’s newsletter includes: an article that sets out some of the benefits of preparing management accounts; news that Companies House will be making more of their data available at no charge; information about investment and tax relief; and finally, details on combining certain VAT schemes to ease the burden of compliance […]


Newsletter July 2014

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Newsletter July 2014 This month’s newsletter includes: details of circumstances when the Annual Investment Allowance can be denied, a reminder that penalties can be charged even if the delay is just one day, a reminder that landlords can no longer claim for the replacement of certain white goods and similar items sited in unfurnished accommodation, […]


Newsletter June 2014

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Newsletter June 2014 This month’s newsletter includes: a heads up for high income earners, details of HMRC’s campaign targeted at second income earners, news of relaxation in online filing of VAT returns, and the possible demise of the private residence election.  Pension contributions and high income earners Our previous government enacted legislation that removed the […]


Newsletter May 2014

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Newsletter May 2014 This month’s newsletter provides company car drivers with a few ideas to save tax; news about HMRC’s intention to open up access to tax data; details about the pension decision period extension; and advance warning of changes to certain VAT place of supply rules. Our next newsletter will be published Thursday 5th […]


Newsletter April 2014

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Newsletter April 2014 5th April is the end of the tax year so this seemed an opportune moment to remind readers what has changed, as a result of the Budget announcements two weeks ago, and what has not changed. We also remind employers of a change to the way HMRC will charge interest on late […]


Budget Statement 19 March 2014

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Budget Statement 19 March 2014 George Osborne has presented his 5 th Budget and we have summarised below some of the more impactful changes. As ever, he was caught between the need to rebalance UK plc’s books and meet the demands of industry to stimulate investment. Our summary of the main tax changes and other […]


NEWSLETTER MARCH 2014

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NEWSLETTER MARCH 2014 Later this month the Chancellor, George Osborne, will be presenting the 2014 Budget. We have listed below a few of the changes that we are expecting. We have also covered the announced financial benefits that are being offered to flood victims; a reminder of the need for planning if you are considering […]


NEWSLETTER FEBRUARY 2014

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NEWSLETTER FEBRUARY 2014 This month we have added articles covering: a situation where you might be advised to pay tax early; why you should prepare your business accounts as soon as you can; fuel for electric cars and the need for record keeping if you own property. Why should you elect to pay tax? There […]


NEWSLETTER JANUARY 2014

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NEWSLETTER JANUARY 2014 Happy New Year… This month we have added articles covering: the new “salaried member” status for certain members of limited liability partnerships; a simple check list to remind you of tax planning opportunities for 2013-14; assets provided by employers for private use; and a reminder to avoid “phishing” emails purporting to be […]


AUTUMN STATEMENT – 5 DECEMBER 2013

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AUTUMN STATEMENT – 5 DECEMBER 2013 George Osborne presented his Autumn Statement to Parliament amid mixed messages spilling from the Treasury, and promoted in the national press, about what he would, and would not give away. The reported economic indicators were encouraging: 1.4% growth in the UK expected for 2013, 2.2% for 2014. Increase in […]


NEWSLETTER DECEMBER 2013

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NEWSLETTER DECEMBER 2013 This month we have added articles covering: pension Auto-Enrolment, the 60% Income Tax rate, have a tax free Christmas party and notice from HMRC that they will be closing down certain unused PAYE schemes. May we take this opportunity to wish all our readers a well deserved break this Christmas and all […]


NEWSLETTER NOVEMBER 2013

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NEWSLETTER NOVEMBER 2013 It has been announced that the Autumn Statement 2013 will be made by the Chancellor of the Exchequer, George Osborne, on Wednesday 4 December at 12.30pm. The Statement provides an update on the Government’s plans for the economy based on the latest forecasts from the Office for Budget Responsibility. These forecasts are […]


NEWSLETTER OCTOBER 2013

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NEWSLETTER OCTOBER 2013 This month’s newsletter articles cover: capital allowance claims for certain property owners, protecting your pension fund lifetime allowance, a brief outline of the new ATED tax, and finally a reminder that HMRC are now accessing credit and debit card transactions. Capital allowances claims deadline If you own the property that you trade […]


NEWSLETTER SEPTEMBER 2013

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NEWSLETTER SEPTEMBER 2013 This month’s newsletter includes a few reminders: application of the National Minimum Wage, registration for Self Assessment if the High Income Child Benefit Charge applies, Charities and the online Gift Aid system, and finally, the need to register under the Machine Games Duty regulations. National Minimum Wage (NMW) here has been much […]


NEWSLETTER AUGUST 2013

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NEWSLETTER AUGUST 2013 This month’s newsletter includes the following articles: a recent offer from HMRC to help you to file any outstanding tax returns, changes to the rules regarding loan deductions for IHT, details of a new HMRC taskforce targeting holiday businesses and an interesting summary of HMRC’s accounts for 2012-13. HMRC’s “My Tax Return […]


NEWSLETTER JULY 2013

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NEWSLETTER JULY 2013 The newsletter this month includes articles covering: the recent declaration issued by the G8 Conference last month, record keeping for mileage claims, new legislation to reduce tax advantages for members of partnerships and LLPs and the Minimum Wage Rates from 1 October 2013. International tax and transparency Readers may be interested to […]


NEWSLETTER JUNE 2013

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NEWSLETTER JUNE 2013 The newsletter this month includes articles covering: business property relief for Furnished Holiday Lets, National Insurance changes for sleeping partners, transferring the unused IHT nil rate band and a reminder for tax credits claimants. Furnished Holiday Let set-back Last year a case was heard before the First-tier Tribunal that found a Furnished […]


NEWSLETTER MAY 2013

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NEWSLETTER MAY 2013 This month our newsletter includes justification for preparing your Self Assessment return in good time, using charitable donation carry-back rules to good effect, further details of the new anti-abuse tax rule and a reminder that HMRC do not send emails. Our next newsletter will be published on 6 June 2013. Self Assessment […]


NEWSLETTER APRIL 2013

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NEWSLETTER APRIL 2013 George Osborne’s recent Budget announcements offered little in terms of tax incentives to UK’s hard-pressed business community. Two up and coming changes, to childcare reliefs and a National Insurance ‘discount’ for employers, are mentioned below together with details of mortgage support for homebuyers and a further update on a relaxation of reporting […]


Budget Update 21 March 2013

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Budget Update 21 March 2013 Caught between a rock and a hard place, George Osborne pleaded his case for continued austerity in his 4th Budget whilst maintaining the UK economy was on track to recovery. Overall his budget was fiscally neutral – any tax savings to be funded by decreases in public expenditure. There were […]


NEWSLETTER MARCH 2013

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NEWSLETTER MARCH 2013 This month’s newsletter contains tax planning tips for high income earners, extracts from the published clauses for the Finance Bill 2013, a further reminder of the PAYE reporting changes from 6 April 2013 and notice of new tax clampdowns by HMRC. Tax planning for high income earners 2012-13 High income earners have […]


NEWSLETTER FEBRUARY 2013

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NEWSLETTER FEBRUARY 2013 The newsletter this month covers: payroll changes from April 2013, information about the new flat rate state pension, a wake-up call if you have outstanding VAT returns to file and information about a number of additional personal allowances and reliefs. Payroll changes April 2013 Employers should make sure that they are ready […]


NEWSLETTER JANUARY 2013

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NEWSLETTER JANUARY 2013 Happy New Year… This month’s articles cover: the value of tax planning prior to end of the tax year, the increase in the Annual Investment Allowance announced last month, the intended launch of Universal Credits later this year and further easing of the proposed Income Tax relief cap. End of year tax […]


NEWSLETTER DECEMBER 2012

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NEWSLETTER DECEMBER 2012 This month’s articles provide ground rules for ensuring you get tax relief for the cost of your Christmas party, an update on the relaunched Business Record Check campaign, details of HMRC initiative to target the rag trade and alcohol industry, and a warning for Swiss bank account holders. George Osborne delivered his […]


AUTUMN STATEMENT 5 DECEMBER 2012

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AUTUMN STATEMENT 5 DECEMBER 2012 Confirming what we all knew to be the case, George Osborne advised today that the UK economy is forecast to shrink in 2012. The actual percentage rate is small, just 0.1%. In the subsequent 5 years to 2016-17 we are advised that the UK should achieve modest growth as the […]


NEWSLETTER NOVEMBER 2012

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NEWSLETTER NOVEMBER 2012 This month’s articles include an update regarding changes for employers in the pension rules, an explanation of the tax position of Child Benefit from January next year, a reminder of tax return submission deadlines and the date of the forthcoming Autumn Statement. Please note that the closing paragraph of the charitable giving […]


NEWSLETTER OCTOBER 2012

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NEWSLETTER OCTOBER 2012 This month we have included articles that outline the benefits of the new Seed Enterprise Investment Scheme, a reminder of the tax savings that can be achieved from charitable giving, details of the revised car advisory fuel rates from 1 September 2012, and finally, details of changes to the National Minimum Wage […]


Newsletter September 2012

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Newsletter September 2012 This month we have included articles that cover: benefits in kind from partnerships, what is and is not a termination payment, new capital allowance rules and HMRC’s reward scheme for informants! Benefits in kind and partnerships In a potentially wide ranging decision, a First-tier Tribunal has ruled in favour of HMRC. The […]


NEWSLETTER AUGUST 2012

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NEWSLETTER AUGUST 2012 This month we have included articles that cover: share reorganisations and CGT, VAT special scheme exit rules, a recent house flipping case and an update on the introduction of Real Time Information. Share reorganisations and CGT If you exchange shares in your company for shares or debentures in the same or a […]


NEWSLETTER JUNE 2012

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NEWSLETTER JUNE 2012 This month we have included articles that cover: the advantages of the VAT Flat Rate Scheme for smaller businesses, the qualifying conditions for Furnished Holiday Let property tax benefits, the tax position of Equitable Life compensation payments and a reminder from HMRC about bogus emails. VAT Flat Rate scheme The VAT Flat […]


Newsletter May 2012

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Newsletter May 2012 This month we are highlighting the following topics: the possible transfer of State Pension payments into the PAYE system, the revised benefit in kind position of smart phones, HMRC’s introduction of security deposits, and the reduced rate of IHT if you make sufficient charitable provision in your will. State pensions subject to […]


NEWSLETTER APRIL 2012

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NEWSLETTER APRIL 2012 Now that the dust has settled on George Osborne’s announcements last month we have highlighted a few issues that are worthy of additional comment. These include: HMRC cap on certain tax reliefs, changes to age related tax allowances and Stamp Duty Land Tax changes. We have also included a short article that […]


Budget Update 21 March 2012

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Budget Update 21 March 2012 George Osborne continued his fiscal campaigning by attempting to juggle tax take, Government borrowing and economic growth. Only time will tell how many balls he will continue to keep in the air and for how long. There are no dramatic tax changes announced in his Budget Statement. Many of the […]


NEWSLETTER MARCH 2012

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NEWSLETTER MARCH 2012 Our newsletter this month is the last before the March 2012 Budget. Our articles this month explain: who will be paying the highest rate of income tax this year, a few more ideas for reducing your income tax bill, clarification of VAT recovery on motoring costs and an update regarding HMRC’s business […]


NEWSLETTER FEBRUARY 2012

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NEWSLETTER FEBRUARY 2012 Our newsletter this month contains the following articles: a heads up for higher rate tax payers regarding tax relief on pension contributions, a few tax planning tips for 2011-12, some ‘phishing’ tips from HMRC and finally a reminder of late filing and payment penalties. Higher rate tax payers are you missing out? […]


NEWSLETTER JANUARY 2012

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NEWSLETTER JANUARY 2012 Our newsletter this month contains the following articles: a summary of the draft clauses for next year’s Finance Bill published on 6 December 2011; details of relaxed rules regarding smaller pension pots; a ‘duty free’ update; and finally, an update on the Winter Fuel Allowance. Tax changes this year and beyond On […]


NEWSLETTER DECEMBER 2011

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NEWSLETTER DECEMBER 2011 Our newsletter this month contains the following articles: a short summary of the tax changes disclosed by the recent Autumn Review; planning opportunities available to married couples with investment property; tax position regarding claims for interest on property loans; and finally a few notes on tax relief available for Christmas parties… Summary […]


AUTUMN STATEMENT 29 NOVEMBER 2011

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AUTUMN STATEMENT 29 NOVEMBER 2011 George Osborne disclosed his plans to re-invigorate the UK economy yesterday and at the same time, stay focussed on debt reduction. The pundits were forecasting a range of measures including: increasing the bank levy, perhaps scrapping or delaying the January 2012 increase in fuel duty and tinkering with the lower […]


NEWSLETTER NOVEMBER 2011

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NEWSLETTER NOVEMBER 2011 Our newsletter this month contains the following articles: a light hearted look at HMRC reported tax howlers; a planning issue for elderly, married persons claiming a dependency element in their state pension; a reminder of the changes to the taxation of income from Furnished Holiday Let property; and finally, a warning about […]


NEWSLETTER OCTOBER 2011

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NEWSLETTER OCTOBER 2011 Our newsletter this month contains the following articles: reminder to file your tax return on time, future changes to workplace pensions, VAT issues for charities and changes to company car fuel rates. File on time or else! In the past as long as you paid your tax liabilities on time, cleared any […]


NEWSLETTER SEPTEMBER 2011

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NEWSLETTER SEPTEMBER 2011 Our newsletter this month contains the following articles: clarification of unjust enrichment, change in VAT status of salary sacrifice schemes, stamp duty changes for multiple purchases and notification of new HMRC crack-downs. What is unjust enrichment? If you charge a customer VAT and subsequently discover that the supply of goods or services […]


NEWSLETTER AUGUST 2011

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NEWSLETTER AUGUST 2011 Our newsletter this month contains the following articles: HMRC’s published list of assets that can be sold without capital gains tax charge, a note of tax exemptions for amateur sports clubs, a change to the reporting of property transactions, and, HMRC are reconciling PAYE tax records for 2010-11 ? under and over […]


NEWSLETTER JULY 2011

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NEWSLETTER JULY 2011 Most of the compliance deadlines for filing of payroll returns for 2010-11 have now passed. Many of our readers will already have a valid P11D Dispensation in place. If you have, this greatly reduces the administrative chores required when completing P11Ds for employees and directors. For those of you who haven’t applied […]


NEWSLETTER JUNE 2011

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NEWSLETTER JUNE 2011 Our newsletter this month covers: details of a new initiative by HMRC to check the books and records of restaurants, a reminder of circumstances that require you to file a tax return, the benefits of making protective claims for tax credits, and finally, a reminder of the increase in the rate per […]


NEWSLETTER MAY 2011

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NEWSLETTER MAY 2011 Our newsletter this month has the following updates: HMRC are now able to track property purchases, tax credits renewal time, new penalty regime for late filing of tax returns, and a warning for pensioners. Property purchasers to be tagged by HMRC Later this year your solicitor, or property conveyance person, will be […]


NEWSLETTER APRIL 2011

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NEWSLETTER APRIL 2011 This newsletter is the first of the new tax year, 2011-12, and contains information for readers following the March 2011 Budget. In particular: an interesting observation regarding gift aid donations, a few tax and cars updates, uplift in the CGT Entrepreneurs’ Relief and finally an update regarding corporation tax changes. When does […]


Budget Update 23 March 2011

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Budget Update 23 March 2011 Against a background of rising inflation, considerable public debt and borrowing requirements, George Osborne has stepped up to the plate today to confirm his changes to the UK tax system. Prior to the event we were advised that he would be confirming significant increases to personal allowances, taking steps to […]


NEWSLETTER MARCH 2011

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NEWSLETTER MARCH 2011 This is our last newsletter in the 2010-11 tax year. George Osborne will deliver his second Budget on 23 March 2011 that will set the framework for tax in the UK for 2011-12 and later years. We will be including a summary of the more significant changes in the April newsletter. This […]


NEWSLETTER FEBRUARY 2011

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NEWSLETTER FEBRUARY 2011 Just two months to the end of the current tax year, so this month we have included articles regarding changes to the tax system that we know will be included in the March 2011 Budget; the Budget date is already announced, 23 March 2011. We have also included details of the impending […]


NEWSLETTER JANUARY 2011

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NEWSLETTER JANUARY 2011 Happy New Year! Let’s hope its a prosperous one for us all… This month we have included a number of tax saving ideas to consider as we approach the end of another tax year; reminders for VAT registered traders regarding the recent change to the standard rate (increased from 17.5% to 20%) […]


NEWSLETTER DECEMBER 2010

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NEWSLETTER DECEMBER 2010 Our final newsletter for 2010 includes an article setting out the case for an early application to seek out extended terms to pay your tax on 31 January 2011; how to benefit from tax concessions when you organise your Christmas party; a tax break for unmarried couples; and a warning that HMRC […]


NEWSLETTER NOVEMBER 2010

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NEWSLETTER NOVEMBER 2010 The newsletter this month updates readers with the latest changes to pension contribution tax relief, information about Research & Development relief, an article regarding tax relief for training and finally, a reminder of an advantage for getting your 2009 tax return filed, unless you already have… New restrictions to pensions tax relief […]


Public Expenditure Review Summary of announcements 20 October 2010

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Public Expenditure Review Summary of announcements 20 October 2010 The Government plans to reduce Public Expenditure are announced. What does it all mean and why do we need the reductions? Any difference between money that Government collects, from taxation or sales of assets, and its expenditure, affect Government borrowing. If expenditure exceeds revenues, Government borrowing […]


NEWSLETTER OCTOBER 2010

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NEWSLETTER OCTOBER 2010 Our newsletter this month includes information regarding the National Insurance holiday for new businesses, an update on possible changes to the tax position of Furnished Holiday Let property, an article that looks at if you need to complete a tax return and finally two updates on HMRC issues. National Insurance holiday for […]