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

Jul 26, 2017

The government has published the European Union (Withdrawal) Bill 2017-19 and it has had its first reading in the House of Commons. The second reading is scheduled for 9 September 2017, following which it will enter Committee Stage for further deba...

  Read full article

Jul 25, 2017

The EU second Payment Services Directive (PSDII) was approved by the European Parliament and European Council in December 2015 and seeks to widen the scope of the existing EU Payment Service Directive (PSD) that defines the information that consume...

  Read full article

Jul 25, 2017

We have recently considered some of the issues surrounding various tax efficient strategies for paying director shareholders. One aspect of this complex area that we have not yet examined is whether company directors need to be concerned with emplo...

  Read full article

Jul 25, 2017

The new State Pension is payable to those that reach the State Pension age on or after 6 April 2016. The full new State Pension is currently £159.55 per week and is payable to eligible women born on or after 6 April 1953 and eligible men born on o...

  Read full article

Jul 25, 2017

The intestacy rules that govern how assets are divided if someone dies without making a will changed from 1 October 2014. The changes do not affect people who die with less than £250,000 in assets but for those that leave more, the changes were si...

  Read full article

Jul 25, 2017

HMRC’s annual reconciliation of PAYE for the tax year 2016-17 is well under way. HMRC uses salary and pension information to calculate if the correct amount of tax has been paid. Where the incorrect amount of tax has been paid, HMRC uses the P800...

  Read full article

Jul 25, 2017

This coming Monday (31 July) is the last day for families and individuals that receive tax credits to renew their tax credit. As in previous years, there is expected to be a huge last-minute rush and it may be difficult to contact HMRC by phone. C...

  Read full article

Jul 25, 2017

The Personal Savings Allowance (PSA) was launched on 6 April 2016. The allowance means that the first £1,000 interest on savings income for basic rate taxpayers is tax-free. For higher-rate taxpayers the PSA is £500. Anyone earning over £150,000...

  Read full article

Jul 19, 2017

The government has confirmed that a new Finance Bill will be introduced as soon as possible after the summer recess. The House of Commons returns to Westminster on 5 September 2017. In a joint press release from HMRC and HM Treasury we are told th...

  Read full article

Jul 19, 2017

A new timetable for the introduction of Making Tax Digital (MTD) has been announced. The new regime was due to start from April 2018, but was delayed by the snap general election earlier this year. The government now appears to have listened to con...

  Read full article

Jul 19, 2017

Many director shareholders take a minimum salary and any balance of remuneration as dividends. This tends to reduce National Insurance Contributions (NICs), and in some case income tax. The planning strategy is to pay a salary at a level that quali...

  Read full article

Jul 19, 2017

Working out whether you are an employee or self-employed can be a tricky business and HMRC’s view can sometimes be at odds with status defined under employment law. Clearly, although not always, there are tax and NIC advantages for you and the bu...

  Read full article

Jul 19, 2017

In July 2015, the then Chancellor George Osborne announced a series of reforms to the non-domicile rules. The new rules were due to come into effect from April 2017, but were removed from the cut-back Finance Bill that was rushed through parliament...

  Read full article

Jul 19, 2017

The Gift Aid scheme is available to all UK taxpayers, but in order to sign up to the Gift Aid scheme when you make a donation, you must be paying UK income tax. There are clear advantages for charities if you make your donation in this way. The ch...

  Read full article

Jul 12, 2017

The Supreme Court has ruled in favour of HMRC over a long running tax avoidance case against a former incarnation of Rangers football club (now in liquidation). The case concerned a tax avoidance scheme under which the club paid remuneration to the...

  Read full article

Jul 12, 2017

The Office of Tax Simplification (OTS) provides independent advice to the government on simplifying the UK tax system, with the objective of reducing compliance burdens on both businesses and individual taxpayers. The OTS operates on a permanent, s...

  Read full article

Jul 12, 2017

HMRC’s list of exclusions from online filing for 2016-17 continues to multiply. The list of exclusions has been updated with the publication of version 4.0 of the document. There are now a total of 32 live exclusions on the list including 5 new a...

  Read full article

Jul 12, 2017

The VAT DIY Housebuilders scheme is a special scheme that enables homeowners building a home to benefit from the special VAT rules that allow the qualifying construction costs of new homes and certain conversion works to be zero-rated. In this way,...

  Read full article

Jul 12, 2017

The furnished holiday let (FHL) rules allow holiday lettings of properties that meet certain conditions to be treated as a trade for some specific tax purposes. Individuals, partnerships, trustees and companies who let furnished holiday accommodati...

  Read full article

Jul 12, 2017

The rent-a-room scheme is a set of special rules designed to help homeowners who rent-a-room in their home. The limit increased to a generous £7,500 from 6 April 2016, after remaining stagnant for many years and has remained at the same level for ...

  Read full article

Jul 05, 2017

As many of our readers will be aware, new payroll legislation on the treatment of certain business expenses and benefits came into effect from 6 April 2016. One of the main changes was the removal of the requirement for employers to report certain ...

  Read full article

Jul 05, 2017

A recent First Tier Tribunal case examined whether a company director had an obligation to submit a Self Assessment tax return without receiving a notice to file. The taxpayer in question appealed against penalties totalling £1,300 relating to his...

  Read full article

Jul 05, 2017

One of the most often used and valuable of the Capital Gains Tax (CGT) exemptions covers the sale of the family home. In general, there is no CGT payable on the sale of a property which has been used as the main family residence. An investment prop...

  Read full article

Jul 05, 2017

An Essex based financial adviser has admitted tax fraud and has been jailed for five years. He set himself up as tax adviser despite having no financial qualifications. He had previously worked as a bricklayer and his clients were mainly made up of...

  Read full article

Latest News