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12-12-2018
VAT on property service charges

VAT on property service charges

A new Revenue and Customs Brief (6-2018) entitled VAT exemption for all domestic service charges has recently been published by HMRC. The brief explains changes to the Extra Statutory Concession (ESC) 3.18 VAT: exemption for all domestic service ... read more

12-12-2018
Are you ready for VAT filing changes April 2019?

Are you ready for VAT filing changes April 2019?

The introduction of Making Tax Digital (MTD) for VAT is fast approaching. From April 2019, some 1 million businesses with a turnover above the VAT threshold (currently £85,000) will have to keep their records digitally (for VAT purposes only), and ... read more

12-12-2018
Is your income approaching £100,000?

Is your income approaching £100,000?

For high earning taxpayers, the personal allowance is gradually reduced by £1 for every £2 of adjusted net income that exceeds £100,000 irrespective of age. Adjusted net income is total taxable income before any personal allowances, less certain tax ... read more

12-12-2018
Qualifying for VAT special schemes

Qualifying for VAT special schemes

There are three main special VAT schemes available to small businesses. These are the flat rate scheme, the annual accounting scheme, and the cash accounting scheme. The turnover levels for joining and leaving these schemes vary. The flat rate ... read more

12-12-2018
When is lettings relief available?

When is lettings relief available?

In general, there is no Capital Gains Tax (CGT) on a property which has been used as the main family residence. This relief from CGT is commonly known as 'private residence relief'. However, where all or part of the home has been rented out, the ... read more

12-12-2018
How the £1,000 trading allowance works

How the £1,000 trading allowance works

There is a £1,000 tax allowances for miscellaneous trading income that has been available to taxpayers since April 2017. This is known as the trading allowance. The income raised from these kinds of ventures is usually supplemental to a taxpayer’s ... read more

11-12-2018
Citizens’ rights in the event of a no deal Brexit

Citizens’ rights in the event of a no deal Brexit

The government has published a policy paper on what might happen to EU citizens in the UK and UK nationals in the EU, in the event of a “no deal” Brexit. The government has confirmed that those EU citizens and their family members who are resident ... read more

05-12-2018
Could you claim expenses and an early tax refund?

Could you claim expenses and an early tax refund?

HMRC is reminding employees that they may be able to claim a tax rebate if they have incurred certain expenses related to their employment. HMRC’s press release on the matter specifically identifies workers including nurses, hairdressers, ... read more

05-12-2018
X-factor VAT bonus

X-factor VAT bonus

The Chancellor, Philip Hammond has announced that the government will waive the VAT equivalent on the sales of this year’s X-Factor Christmas Charity single. All proceeds from the sale of the single are going to two children’s charities; Together for ... read more

05-12-2018
Employing someone to work in your home

Employing someone to work in your home

When you employ someone to work in your home, it is your responsibility to ensure you meet the employee's rights and deduct the correct amount of tax from their salary. This can include employees such as a nanny, housekeeper, gardener or carer. The ... read more

05-12-2018
UK VAT claims by non-EU businesses

UK VAT claims by non-EU businesses

The VAT paid in other EU countries is often recoverable by VAT-registered businesses in the UK, who bought goods or services for business use. The amount of VAT that is refundable depends on the other countries' rules for claiming input tax. It is ... read more

05-12-2018
HMRC writes to taxpayers in Wales

HMRC writes to taxpayers in Wales

HRMC has written to two million taxpayers in Wales concerning the introduction of the Welsh rates of Income Tax (WRIT) from 6 April 2019. The WRIT will be payable on the non-savings and non-dividend income of those defined as Welsh taxpayers and WRIT ... read more

05-12-2018
Taxation of termination payments

Taxation of termination payments

In the 2016 Budget, the government announced that termination payments over £30,000 would be subject to employer National Insurance Contributions (NICs) from April 2018. In the 2017 Budget, the government further announced that this change would be ... read more

05-12-2018
Who can or cannot claim the Employment Allowance

Who can or cannot claim the Employment Allowance

The Employment Allowance of £3,000 per year is available to most businesses and charities to be offset against their employers Class 1 NIC bill. The allowance can be claimed as part of the normal payroll process. An employer can claim less than the ... read more

05-12-2018
When you can utilise overlap relief

When you can utilise overlap relief

The assessment of self-employed or partnerships profits is usually relatively straight-forward if the accounting date, to which accounts are prepared annually, falls between 31 March and 5 April. However, overlap profits can arise where a business ... read more

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