It is a commonly held point of view that when you sell your home you won’t pay any tax, and in particular, that you won’t pay any Capital Gains Tax on the difference between the purchase and sales prices.
Unfortunately, there are circumstances when this is not true. For example, you...
1 month 2 weeks ago
From April 2019, minimum pay rates will increase as set out below.
National Living Wage (NLW) rates for workers aged 25 and over - from £7.83 to £8.21 per hour.
National Minimum Wage rates:
workers aged 21–24 — from £7.38 to £7.70 per hour
workers aged 18–20 — from £5.90 to £6....
1 month 2 weeks ago
A reminder that if your business makes a loan to your employees or their relatives this can create tax problems for both employees and employers. And please don’t forget that the term “employee” includes directors, and also that loans to family members may be caught.
For example,...
1 month 2 weeks ago
It would seem that fraudsters, keen to relieve you of your hard earned cash, are switching to phone calls now that email scams are becoming less effective.
HMRC recently issued the following instructions to UK taxpayers and requested that we all assume a new level of vigilance. They...
1 month 2 weeks ago
Digitisation is simply the conversion of text, pictures, numbers and sound into a form that can be processed by a computer.
Add to this the replacement of feet on the ground with algorithms and programs that respond to certain criteria and we can start to see where the management of...
1 month 3 weeks ago
HMRC have issued a letter to VAT registered traders that either export or import goods to and from the EU. They are introducing new Transitional Simplified Procedures (TSPs) for customs purposes.
For importers the text says:
HMRC is introducing new Transitional Simplified...
1 month 3 weeks ago
There are obvious benefits to your personal wellbeing if you sweat it out at the gym three times a week: improved stamina, enviable muscle tone, endorphin buzz and unwanted pounds shed. But could your business benefit from a similar process?
We are not suggesting that business...
2 months 12 hours ago
According to a recent government announcement, 32 million people will be better off as the Finance Bill 2018-19 receives Royal Assent.
Treasury pundits who wrote the announcement said:
A basic rate taxpayer will payat least £1,200 less income tax than they did in 2010, thanks to...
2 months 2 days ago
The deadline for filing 2017-18 self-assessment tax returns without paying a penalty for late submission has passed (31 January 2019).
But a new and pressing deadline now presents itself: 5 April 2019.
As we have outlined in previous posts, most tax planning needs to be considered...
2 months 1 week ago
Last year, the 23 May 2018 to be precise, the UK adapted the General Data Protection Regulations (GDPR). The deadline created a rush of publicity and activity as businesses across the UK pored over their data processing systems, making changes to accommodate the new rules.
After the...
2 months 1 week ago
Pages
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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
