Blog
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Q. My company borrowed money from another private company, but the loan has now been written off because the lender company has been dissolved. What are the tax implications of this write-off? ...
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Q. NEW PROPERTY RULES. As a landlord with several rental properties, is there anything I should be considering to help mitigate the impact of the restrictions on mortgage interest relief?
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Measures to help taxi drivers to buy cleaner vehicles, remove barriers for investment in the oil and gas industry, and tackle tax avoidance using profit fragmentation are just some of the key polic...
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Certain sole traders and partnerships may benefit from using HMRC's simplified expenses regime to calculate business expenses for vehicles, working from home and living on the business premises...
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In response to calls for additional clarity from businesses and their representatives, HMRC have published further information on Making Tax Digital (MTD) to support them with preparation in the ru...
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Q. What are the conditions for claiming Marriage Allowance and what is the maximum that can be claimed in 2018/19?
A. Broadly, although not strictly a separate allowance, Marriage Allowan...
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Q. I am a sole trader providing IT consultancy services to customers. I am registered for VAT. Can I use the cash accounting system for paying VAT and do I need to apply to HMRC to use it?
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Q. I am a company director and usually work from an office in London. However, I will shortly be relocating to France for a couple of months and will be working from there. Will I be able to ...
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The Association of Taxation Technicians (ATT) is warning that owners of second homes and buy-to-let (BTL) landlords may face a much shorter period in which to pay any capital gains tax (CGT) due on...
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HMRC's pilot of Making Tax Digital (MTD) for income tax has been extended and is now able to accept quarterly updates from individual landlords with simple tax affairs. We as agents can also si...
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Q. I am a VAT-registered sole trader. What is the VAT position if I buy a new car for £10,000 and part-exchange my used van for £4,000?
VAT is calculated as follows:
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Q. I am an employee and am liable to income tax at the higher rate. I also receive income from a rental property that I own. My wife does not work. If I instruct the tenants to pay the rent directl...
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Q. I use my own car for business. My employer reimburses me 20p per mile. In 2017/18 I travelled 15,000 on business. I am a basic rate taxpayer. Can I claim any tax relief for the use of my car?&nb...
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All corporate entities need to be aware of the two new offences that were introduced by the Criminal Finances Act 2017, which apply from 30 September 2017 onwards. The first applies to the facilita...
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In Jensal Software Ltd v HMRC Commrs [2017] TC 00667, the IT contractor, Ian Wells, successfully appealed a tax bill relating to a succession of contracts during the 2012/13 tax year. Wells provide...
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