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Tax Diary August/September 2019

1 August 2019 - Due date for Corporation Tax due for the year ended 31 October 2018. 19 August 2019 - PAYE and NIC deductions due for month ended 5 August 2019. (If you pay your tax electronically the due date is 22 August 2019) 19 August 2019 - Filing deadline for the CIS300...
6 months 2 weeks ago

Internet giants face tax-hike

It has been confirmed that from April 2020, the government will introduce a new 2% Digital Services Tax (DST) on the revenues of search engines, social media platforms and online marketplaces which derive value from UK users. This is an attempt to tax, in the UK, revenues earned by...
6 months 2 weeks ago

Changes to private residence relief

If you rent out all or part of your home this may create a Capital Gains Tax (CGT) charge when you sell the property. Presently, HMRC excludes the last 18 months of your ownership – even if the property is let for this time – when assessing any CGT liability. In a draft of the...
6 months 2 weeks ago

New homes to have car charge-points

In a bid to accommodate yet more electric vehicles on our roads, the government has launched a consultation aimed at increasing the number of homes with electric car charge-points. In a recent press release they said: “All new-build homes could soon be fitted with an electric car...
6 months 2 weeks ago

Low paid workers to qualify for sick-pay

The government has started a consultation to transform support for sick and disabled staff and remove barriers for employees. The Department for Work and Pensions has recently set out new measures to transform how employers support and retain disabled staff and those with a health...
6 months 2 weeks ago

A new business, have you considered your options?

If you are setting up a new business one of the options, you will need to consider is your business structure. There are two basic choices: Be self-employed, or Incorporate your business, be a limited company. There is a world of difference between the two options. Self-...
6 months 3 weeks ago

Why invest in tax planning?

The way we organise our business and personal financial affairs determines the amount of taxes we pay. Most of us are focussed on outcomes, outcomes that on the face of it increase our profits or income without due regard for the effect these transactions have on our tax position. A...
6 months 4 weeks ago

The advantages of tax compliance support?

As UK resident persons we are obliged to comply with the law, if we don’t, there are consequences. These range from financial penalties to imprisonment. Tax compliance covers areas such as submitting returns to HMRC by the required dates and observing certain disclosure rules if our...
7 months 20 hours ago

No deal

The phrase “no-deal” is assuming a rather specific meaning as the exit from the EU grinds towards a conclusion – the present deadline for achieving a withdrawal agreement is the end of October. If we fail to achieve consensus by that date, there are three outcomes: We agree terms...
7 months 5 days ago

It is business as usual at the Treasury

With all the present upheavals in UK politics it is reassuring that for one government department, the Treasury, it’s business as usual. Ordinarily, we would expect the next Budget to be presented to parliament in the autumn, usually November. As part of the Budget 2018, certain...
7 months 6 days ago

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