Continuing the theme from last week’s blog post, we have listed details of a forthcoming change to the taxation of companies that were disclosed in the draft clauses published last week for the forthcoming budget. The change outlined expands the rights of HMRC to demand a security...
9 months 1 week ago
New figures show that HM Revenue and Customs (HMRC) requested a record 20,750 malicious sites to be taken down in the past 12 months, an increase of 29% on the previous year.
Despite a record number of malicious sites being removed, HMRC is warning the public to stay alert as...
9 months 2 weeks ago
Last week the Treasury issued draft clauses for the forthcoming Finance Bill (to be published after the Autumn Budget later this year). These will set the scene for tax matters 2019-20 and beyond.
The aim of the advance notice is to give interested parties a chance to comment on the...
9 months 2 weeks ago
Many director shareholders take a minimum salary and any balance of remuneration as dividends. This tends to reduce National Insurance Contributions (NIC), and in some cases income tax.
The planning strategy is to pay a salary at a level that qualifies the director for state...
9 months 2 weeks ago
Whether you pay income tax or National Insurance, the effect on your cash flow is the same. The payments are a necessary part of our obligation to fund the activities of State, but the self-employed are often surprised that their bi-annual tax payments cover both “taxes” – NIC and...
9 months 2 weeks ago
It would seem, that HMRC is keen to plug the apparent drain from VAT receipts when contractors and sub-contractors charge their customers VAT and then go missing, keeping the VAT for themselves. This is described in legislation as “missing trader fraud”.
Their preferred method for...
9 months 2 weeks ago
1 July 2018 - Due date for corporation tax due for the year ended 30 September 2017.
6 July 2018 - Complete and submit forms P11D return of benefits and expenses and P11D(b) return of Class 1A NICs.
19 July 2018 - Pay Class 1A NICs (by the 22 July 2018 if paid electronically).
19...
9 months 2 weeks ago
In a landmark decision, the Supreme Court has ruled that discriminating on the basis of sexual orientation, or a decision to live together rather than marry, is a breach of human rights.
Presently, couples need to be in a formal civil partnership or married to be able to claim the...
9 months 3 weeks ago
According to HMRC, around three million couples across the UK have boosted their finances by claiming the Marriage Allowance, but more than a million married and civil partnered couples are still eligible for the free tax break worth up to £238 a year.
Thanks to the start of the new...
9 months 3 weeks ago
When your income exceeds £100,000 for income tax purposes your entitlement to a personal allowance (£11,850 for 2018-19) is reduced by £1 for every £2 that your income exceeds this threshold.
Which means, when your income reaches £123,700, you no longer qualify for a personal...
9 months 4 weeks ago
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When do you pay capital gains tax? https://t.co/IVozT5gROn -
What is a Debt Relief Order? https://t.co/oDvXY1XXY7
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Green light for pension dashboards https://t.co/2phmRlCvrV
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Tax-free property and trading allowances https://t.co/mtOkGOp8Tt
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What will HMRC avoid telling you? https://t.co/JCdEG9RqNF
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Spring Statement March 2019 https://t.co/gqc2MZ4Wdf
