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Taskforce Targets Private Landlords

Taskforce Targets Private Landlords HMRC has announced a taskforce to investigate tax avoidance of landlords in South East England. Private residential landlords have now been the sub...

Q. My company borrowed money from another private company

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? ...

Autumn Budget 2018 - Property - Private Residence Relief: changes to ancillary reliefs

From April 2020, the government will change two ancillary reliefs on rented property and on gains made in the final period of ownership, regardless of occupancy.

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 ...

Self-Employed Travel Expenses

Self-Employed Travel Expenses   If you are self-employed you may have a number of customers you go to regularly to work at their premises. This could apply to mobile hairdressers, clea...

HMRC to use Automatic Search Programmes

HMRC to use Automatic Search Programmes!   The Taxman has announced he is going to start targeting tax evasion by online traders, private tutors, personal trainers and life coaches. ...

Autumn Budget 2018 - IR35 Changes

To increase compliance with the existing off-payroll working rules (known as IR35) in the private sector, businesses (ie the contractor) using the services of an individual operating through a Limi...

Capital Allowances for Holiday Lets

Capital Allowances for Holiday Lets Do you own a property that qualifies as a furnished holiday let (FHL)? To qualify the property has to be commercially let for short periods for at least 70 d...

Spring Budget 2017 - Individuals

Individuals Personal allowance and income tax threshold The personal allowance for 2017/18 is set at £11,500 (£11,000 in 2016-17), and the basic rate limit will be increased to ...

Employee mileage allowances

Employee mileage allowances Confusion often arises over differing tax treatment of mileage allowances paid to employees using their own cars for business, and those provided with a company car....

Q. I am a sole trader and registered for VAT. The business pays for the fuel in my car...

Q. I am a sole trader and registered for VAT. The business pays for the fuel in my car, which I use for both business and private mileage. How do I account for VAT on the fuel using HMRC's fuel...

IT contractor wins IR35 case

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...


Frequently Asked Questions Q. I have recently started a new job and, for the first time in my career, I have been provided with a company car. I have to pay for fuel for private use but my empl...

Business Journeys

Business Journeys A number of self-employed businesses have been waiting for a tax case to be decided which turned on the question of "what is a business journey?" The test case conce...

Changes to capital gains tax rates

Changes to capital gains tax rates   Legislation will be included in Finance Bill 2016 to reduce the rate of capital gains tax from 18% to 10% where the person is a basic rate taxpayer...
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