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Maintaining the tax system

Making Tax Digital (MTD) Mandatory digital record keeping for VAT for businesses over the VAT threshold (with turnover over £85,000) comes into force from 1 April 2019. What exactly does ... more


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Tax avoidance, evasion & non-compliance

Tax avoidance, evasion & non-compliance The government has published:  The government has previously stated its ongoing commitment to keeping the tax administration framework under... more


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Spring Statement

Spring Statement Summary Chancellor Philip Hammond has delivered his 2019 Spring Statement to the House of Commons. As expected, no changes to tax were announced in the Spring Statement speech ... more


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Employer responsibilites for tips

Employer responsibilites for tips The tax and NIC treatment of tips will depend on how they are paid to the recipient.   Cash tips handed to an employee, or say, left on the table ... more


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Voluntary disclosures - Authorising an agent

Voluntary disclosures - Authorising an agent HMRC have updated their online guidance on disclosing unpaid tax to include information on authorising an agent to deal with a disclosure made throu... more


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ATTN. DIRECTORS - Checking directors' expenses

ATTN. DIRECTORS - Checking directors' expenses As 31 March approaches, many companies will be getting ready to tie up tax matters for their financial year-end. Now is the time to ensure tha... more


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HMRC reaffirm income tax charge on winding up

HMRC reaffirm income tax charge on winding up HMRC have published Spotlight 47, which provides guidance on tax avoidance schemes that try to avoid the income tax charge on distributions when a ... more


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VAT: Supplies of digital services to consumers in the EU

VAT: Supplies of digital services to consumers in the EU The VAT rules for businesses supplying digital services to private consumers change with effect from 1 January 2019.   From... more


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Considering capital expenditure?

Considering capital expenditure? Businesses considering investing more than £200,000 in plant and machinery could benefit from a change to the capital allowances rules in January 2019, wh... more


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Can an employer still claim the Employment Allowance (EA)?

Can an employer still claim the Employment Allowance (EA)? In broad terms, the Employment Allowance (EA) is available to most employers and should enable them to reduce the amount of National I... more


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The ‘Section 455 Charge’ (borrowing money from the company)

The ‘Section 455 Charge’ (borrowing money from the company) For accounting purposes, cash transactions between a director and a personal or family company are recorded through the d... more


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Making Tax Digital (MTD)

The Making Tax Digital (MTD) pilot opens to all The Making Tax Digital (MTD) pilot has been opened up to all businesses that will be mandated from April 2019 (i.e., the first VAT accounting per... more


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Buy-to-let property

Q. I bought a property several years ago to rent out. Over the last five years its value has risen from £120,000 to £220,000. I understand that if I sell it now, I would be liable to pa... more


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Reclaiming of VAT

Q. I run my own business, which is registered for VAT. If I purchase a new car for business use, can I reclaim the VAT I pay on it? A. If you only use the car for business purposes, you may be ... more

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43
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Reducing potential liability to capital gains tax

Q. My wife and I own various assets – some are held in individual names and others are held jointly. We are wondering whether we should 'equalise' the value of our assets to reduce po... more