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Cars and taxing issues

We have listed below a number of issues that you will need to consider if directors or employees use a car for business purposes. Essentially, if the car is owned by the business any private use of the vehicle will trigger a tax charge for the driver (car user) and a possible NIC...
3 days 2 hours ago

Paying tax if you are self-employed

If you are a sole trader or an individual member of a partnership you will likely be subject to income tax, and possibly National Insurance, on your earnings. Unfortunately, tax being taxing, earnings for tax purposes may not be the same as the monthly drawings you take from your...
5 days 2 hours ago

Disposing of a UK residential property?

UK readers who are anticipating the sale of a residential property on which a capital gains tax (CGT) charge may apply would be advised to consider the changes to the reporting and payment of this CGT charge from 6 April 2020. The general rule will be that for relevant disposals on...
1 week 3 days ago

An update for hauliers

If you are involved in the transport of goods to and from the EU HMRC have posted useful guidance on what you will need to do to accommodate a no-deal Brexit on 31st of this month. The guidance can be downloaded as a PDF from https://assets.publishing.service.gov.uk/government/...
1 week 5 days ago

Enjoy a tax-free Christmas bash

Follow the outline below to ensure that the cost of your annual staff party will not create tax issues for you or your staff.
2 weeks 2 days ago

Property tax changes from April 2020

Although the Brexit process continues to throw a spanner into the normal workings of government, there are a few certainties from a tax point of view that will be effective from April 2020. A few property related changes are noted in this article:  
2 weeks 2 days ago

The loan charge controversy continues

The following press release was published by HMRC last month. Extracts are reproduced below: Sir Amyas Morse, the former Comptroller and Auditor General and Chief Executive of the National Audit Office (NAO), will lead an independent review of the Loan Charge… The review will...
2 weeks 2 days ago

About face by HMRC

Last month we reported the changes that CIS, VAT registered contractors and sub-contractors were about to face with the introduction of the “reverse charge” process from 1 October 2019. Shortly after our newsletter was published, HMRC conceded that it was aware that the industry was...
2 weeks 2 days ago

Tax Diary October/November 2019

1 October 2019 - Due date for Corporation Tax due for the year ended 31 December 2018. 19 October 2019 - PAYE and NIC deductions due for month ended 5 October 2019. (If you pay your tax electronically the due date is 22 October 2019.) 19 October 2019 - Filing deadline for the...
2 weeks 2 days ago

Do you need to file a tax return?

The following guidelines are reproduced from the government’s website: You must send a tax return if, in the last tax year (6 April to 5 April), you were: self-employed as a ‘sole trader’ and earned more than £1,000 a partner in a business partnership You will not usually need to...
2 weeks 3 days ago

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