This email address is being protected from spambots. You need JavaScript enabled to view it.
 

> Search News

020 8789 0071
Hyde Park House, 5 Manfred Road, London, SW15 2RS

Tax News

Oct 10, 2018

A director of a company that manufactured security systems has been found guilty of two counts of fraudulent trading and one count of fraudulently removing property in anticipation of winding up. He was sentenced to two years in prison after defrau...

  Read full article

Oct 10, 2018

The government has been trying to combat the widespread issue of large businesses abusing their position by making late payments to small businesses. This initiative has included the launch of the voluntary Prompt Payment Code (PPC) in April 2017 w...

  Read full article

Oct 10, 2018

There are special rules for businesses that import goods from non-EU countries. Whilst most smaller businesses importing goods will use a courier or freight forwarder it is still important to be aware of the duties and VAT implications. Businesses ...

  Read full article

Oct 10, 2018

The 2017-18 tax return deadline for taxpayers using a paper self-assessment return is 31 October 2018. Late submission of a self-assessment return will become liable to a £100 late filing penalty. The penalty usually applies even if there is no li...

  Read full article

Oct 10, 2018

There are special VAT rules that allow businesses to standard rate the supply of most non-residential and commercial land and buildings (known as the option to tax). This means that subsequent supplies by the person making the option to tax will be...

  Read full article

Oct 10, 2018

Corporation Tax relief may be available when a company or organisation makes a trading loss. The loss may be used to claim relief from Corporation Tax by offset against other gains or profits of the business in the same or previous accounting perio...

  Read full article

Oct 10, 2018

HMRC has used targeted campaigns to recover underpaid taxes and penalties from specific sectors and industries where significant underpayment of tax has been identified. The use of these campaigns is part of the government’s continued moves to ta...

  Read full article

Oct 10, 2018

HMRC has issued an updated version of their online guidance on Genuine HMRC contact and recognising phishing emails and texts. The guidance provides a current list of genuine messages from HMRC. This includes email messages, text messages and telep...

  Read full article

Oct 02, 2018

The Charity Commission has warned charities that the deadline for submitting the 2017 annual return is fast approaching. The deadline for charities with a standard 12-month accounting period is 31 October 2018. According to the Charity Commission, ...

  Read full article

Oct 02, 2018

Income Tax, unsurprisingly, is a tax on income. To be more specific, it is a tax on the income of individuals and non-incorporated businesses. However, there are some types of income where no Income Tax is payable. We have summarised below some of ...

  Read full article

Oct 02, 2018

National Insurance credits can help qualifying applicants to fill gaps in their National Insurance record. This can assist taxpayers to build up the amount of qualifying years of National Insurance contributions which can increase the amount of ben...

  Read full article

Oct 02, 2018

The Gift Aid scheme is available to all UK taxpayers. The charity or Community Amateur Sports Clubs (CASC) concerned can take a taxpayer’s donation and provided all the qualifying conditions are met, can reclaim the basic rate tax allowing an ext...

  Read full article

Oct 02, 2018

Class 3 National Insurance Contributions (NICs) are a voluntary contribution paid by those wishing to fill gaps in their NICs contribution record and can be used by taxpayers who have not made sufficient compulsory contributions or are not liable t...

  Read full article

Oct 02, 2018

Under HMRC’s rules, there is no tax to pay on trivial benefits in kind (BiK) provided to employees where all of the following apply: the benefit is not cash or a cash-voucher; and costs £50 or less; and is not provided as part of a salary sacri...

  Read full article

Oct 02, 2018

Entrepreneurs' relief applies to the sale of a business, shares in a trading company or an individual’s interest in a trading partnership. Where this relief is available Capital Gains Tax (CGT) of 10% is payable in place of the standard rate. CGT...

  Read full article

Oct 02, 2018

There are a number of reasons why a limited company may be no longer required and can be shut down. This may be because the limited company structure: no longer suits the needs of its owners, the business is no longer active, or the company is i...

  Read full article

Oct 02, 2018

There are higher penalties for taxpayers evading Income Tax and Capital Gains Tax relating to offshore matters. HMRC’s compliance check notice entitled Higher penalties for offshore matters, has recently been updated to include details about pena...

  Read full article

Sep 25, 2018

The deadline for businesses with a turnover above the VAT threshold to keep digital records and provide regular digital updates to HMRC for VAT purposes using Making Tax Digital (MTD) is fast approaching. From 1 April 2019, businesses with a turnov...

  Read full article

Sep 25, 2018

There is no specific requirement for employers to provide employees with transport home. Nevertheless, an employer has a duty of care to their employees, which means that they should take all steps that are reasonably possible to ensure their healt...

  Read full article

Sep 25, 2018

There are special income eligibility rules for making tax credit claims. The amount and type of income you (and your partner for a joint claim) have will affect how much tax credits you might get. There is a common misconception that the only figur...

  Read full article

Sep 25, 2018

The First-Tier Tribunal (FTT) recently heard a taxpayers appeal against penalties imposed for the late filing of his self assessment return in respect of the 2014-15 tax year. The taxpayer had income from five separate employments during the tax ye...

  Read full article

Sep 25, 2018

Employer contributions to any type of pension arrangement in a registered pension scheme are always paid gross. Tax relief is given by deducting the gross amount of the contributions from an employer’s taxable profits before Corporation Tax is ca...

  Read full article

Sep 25, 2018

Benefits provided to an employee by someone other than the employer (often known as 'third party benefits') are taxable on the employee if they are provided by reason of their employment. For example, if you work at a car dealership and receive an ...

  Read full article

Sep 25, 2018

The Chancellor has announced that the Autumn Budget 2018 will be held on Monday, 29 October 2018. The announcement was made on the GOV.UK website. The Treasury said the Budget will set out the government’s plan to build a stronger, more prosperou...

  Read full article

Latest News