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Tax News

Jul 10, 2018

The publication of the draft Finance Bill 2018-19 includes legislation to change the way the rent-a-room relief scheme works. Following last year's Budget, a consultation was launched by HM Treasury to examine the design of the rent-a-room scheme. ...

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Jul 10, 2018

The draft Finance Bill includes a new measure that will help modernise the tax treatment of employer paid premiums for the provision of death in service life assurance products for their employees. Currently, these premiums are only tax-exempt if...

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Jul 10, 2018

The Finance Bill 2018-19 draft clauses include new measures that will address two anomalies in the Optional Remuneration Arrangements (OpRA) rules. These measures will: ensure that when a taxable car or van is provided through OpRA, the amount fo...

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Jul 10, 2018

The Finance Bill 2018-19 draft legislation was published on 6 July 2018. The Bill which runs to 226 pages (with a further 143 pages of explanatory notes) contains the legislation for many of the tax measures that had previously been announced by th...

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Jul 10, 2018

A new measure to remove the requirement for employers to check receipts for expense claims made by employees using the HMRC benchmark scale rates or overseas scale rates is to be introduced. The benchmark scale rates can be used by employers to re...

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Jul 10, 2018

The government is to move forward with plans to charge Corporation Tax to non-UK resident companies with property income. Currently, these companies are chargeable to Income Tax and not UK Corporation Tax. This change is part of the government's a...

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Jul 10, 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 Entrepreneurs' Relief is available CGT of 10% is payable in place of the standard rate. There are a n...

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Jul 08, 2018

The government’s response to the Home Affairs Select Committee’s report on the delivery of Brexit, published in May 2018, committed to providing further details about the proposed EU Settlement Scheme in the next few weeks. The scheme is the ne...

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Jul 03, 2018

In a unanimous decision, the Supreme Court has decided that the law preventing opposite sex couples from entering into a civil partnership breaches the European Convention on Human Rights (ECHR). The appellants in this long running case are an oppo...

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Jul 03, 2018

Business Asset Rollover Relief allows taxpayers to delay paying Capital Gains Tax (CGT) on gains when they sell or dispose of certain assets and use all or part of the proceeds to buy new assets. The relief means that the CGT due on the gain of the...

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Jul 03, 2018

The marriage allowance allows couples to share part of their personal tax-free allowance in certain circumstances. The marriage allowance is available to married couples and those in a civil partnership where one partner has an unused personal allo...

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Jul 03, 2018

The Annual Investment Allowance (AIA) provides 100% first year tax relief for qualifying expenditure on plant and machinery. It can be claimed by an individual, partnership or company carrying on a trade, profession or vocation, a UK non-residentia...

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Jul 03, 2018

There are a number of VAT issues to consider if you are selling digital services from the UK to consumers based in other EU countries. Since 1 January 2015, the place of supply rules for these types of service is determined by the location of the c...

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Jul 03, 2018

The Bereavement Allowance was a weekly benefit that was payable to certain widows, widowers, or surviving civil partners whose spouse or civil partner died before 6 April 2017. Prior to that date, it was also possible for qualifying applicants to c...

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Jul 03, 2018

HMRC issues guidance that covers what you need to do if you stopped work. The guidance covers the main reasons that you might have stopped work, for example, being made redundant or leaving your job. If you have been made redundant then you may hav...

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Jul 01, 2018

The government has published a new Statement of Changes to the UK Immigration Rules. The main change is to exempt all doctors and nurses from the annual Tier 2 (General) visa limit. The Tier 2 (General) category is the main immigration route for UK...

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Jul 01, 2018

Acas has published new guidance for employers on overtime. The guidance highlights the importance of setting out overtime terms in employment contracts or staff handbooks and urges employers to keep detailed records of the amount of overtime worked...

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Jul 01, 2018

The Solicitors Regulation Authority (SRA) has confirmed that all regulated law firms will be required to publish information on the prices that they charge, and what these cover, across a range of services, including the pursuit (for members of the...

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Jun 27, 2018

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 ...

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Jun 26, 2018

The letters in an employee’s tax code signify their entitlement (or not) to the annual tax free personal allowance. The tax codes are updated annually and help employer’s work out how much tax to deduct from an employee’s pay packet. The ba...

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Jun 26, 2018

There is no longer a requirement to report certain routine expenses to HMRC. The types of expenses and benefits covered are referred to as exemptions and have replaced dispensations which can no longer be applied for. The business expenses and ben...

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Jun 26, 2018

Businesses that are importing goods need to be aware of the many special rules that apply. 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....

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Jun 26, 2018

Carer’s credit is a National Insurance credit that can help carers to fill gaps in their National Insurance record. Carers who don’t qualify for Carer’s allowance, may qualify for Carer’s credit. This can help increase the amount of state p...

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Jun 26, 2018

Employees who use their own money to buy things they need for their job can sometimes claim tax relief for the associated costs. It is usually only possible to claim tax relief for the cost of items used solely for your work. There is no tax relie...

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