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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.

Budget update 2020-Fuel Duty changes for diesel used in private pleasure craft

Fuel Duty changes for diesel used in private pleasure craft The Finance Bill 2020 will contain legislation relating to the propulsion of private pleasure craft. Private pleasure craft already p...

Coronavirus - IR35 Private Sector

Coronavirus - IR35 Private Sector The Government announced that they are now delaying the introduction of the new private sector IR35 system until 1st April 2021, Assuming there are contrac...

Budget update 2020-VED rates for motorhomes

VED rates for motorhomes from 12 March 2020 From 12 March 2020, new motorhomes (type approved M1SA) will be included in the Private/Light Goods Vehicle or Private Heavy Goods Vehicle (HGV) Vehc...

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...

Coronavirus - Homeworkers' Expenses

Coronavirus (COVID-19) Update: Homeworkers' Expenses The government has introduced a temporary tax and National Insurance exemption to ensure that home office equipment purchased by employe...

I am the director of a family-owned company. My wife and my two children are employed by the company

Q. I am the director of a family-owned company. My wife and my two children are employed by the company. If the company provides a mobile phone to each of us, what will the tax implication be? ...

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 ...

Spring Budget 2021 - Green Policies

Green Policies Rishi announced the first ever UK Infrastructure Bank. Located in Leeds, the Bank will invest across the United Kingdom in public and private projects to finance the green indust...
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