Gifts out of disposable income
There is an annual Inheritance Tax exemption of £3,000 for gifts. This exemption can also be carried ... read more
What work is covered by the CIS scheme?
The Construction Industry Scheme (CIS) is a set of special rules for tax and National Insurance for those ... read more
When do you pay Capital Gains Tax?
Capital Gains Tax (CGT) is normally charged at a simple flat rate of 20% and this applies to most ... read more
Class 4 NICs who is liable?
There are two types of National Insurance Contributions (NICs) payable by most self-employed people. ... read more
Reduction in special Writing Down Allowance
Businesses can claim Capital Allowances tax relief for certain types of capital expenditure. For ... read more
EIS Income Tax relief restriction for connected parties
The Enterprise Investment Scheme (EIS) is designed to help smaller higher-risk trading companies raise ... read more
Tax codes for employees
The P9X form is used to notify employers of the tax code to use for employees. The form shows the tax ... read more
Alcohol duty freeze confirmed
The Chancellor, Philip Hammond recently paid a visit to an independent brewery in Liverpool and confirmed ... read more
Will you pay tax on your inheritance?
If you inherit property, money or shares you are usually not liable to pay tax on the inheritance. This ... read more
Struggling to pay your January tax bill?
Have you missed the 31 January 2019 deadline for paying your tax bill? The 31 January was not just the ... read more
Spring Statement 2019
The Chancellor, Philip Hammond, has announced that he will deliver his Spring Statement to the House of ... read more
MTD pilot for self-employed is available
The introduction of Making Tax Digital (MTD) will fundamentally change the way businesses, the ... read more
Claiming money or property from a dissolved company
Any property, cash and other asset owned by a company when it is dissolved automatically passes to the ... read more
Checking your NIC records
HMRC offers an online service to check your National Insurance Contributions (NIC) record online. In ... read more
Maximum AIA calculations for split accounting periods
The recent, and temporary, increase in the AIA to £1m from 1 January 2019 creates computational issues if ... read more
Who pays Income Tax in Scotland?
According to HMRC, individuals pay Scottish Income Tax if they live in Scotland. Care should be taken ... read more
Charities - reducing input VAT
Charities pay VAT on all standard-rated goods and services they buy from VAT-registered businesses. They ... read more
Brexit – what the UK government has advised business owners to do
The Brexit uncertainties continue. To help businesses consider their options HMRC has published more ... read more
Sooner is better than later
Last week we passed the filing deadline (31 January 2019) for the 2017-18 self assessment tax returns. A ... read more
What is taxable when you sell a commercial vehicle or other equipment?
When you purchase a van or other equipment that qualifies for tax relief, the cost of the asset is ... read more