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2 Step Verification for Businesses Accessing HMRC services
From September 2017, 2 Step Verification will be compulsory for businesses accessing their online tax accounts. This means that in addition to the usual log in details,...
CT acknowledgements and payslips
Do remember to pay the corporation tax due. HMRC are no longer issuing acknowledgements or payslips after a return has been filed. HMRC is still paying interest at 0.5% on tax...
Uplift of value of chargeable assets on death
It remains the position that transfers between husbands and wives or civil partners are at nil gain nil loss for capital gains tax purposes. HMRC have indicated in their...
Plans to Digitalise tax have been put back
The Government have announced significant changes to the (making Tax Digital) MTD timetable, effectively deferring MTD until at least 2020, although digital records will need...
Tax calculations for 2016-17
The latest changes to the way income is taxed has even beaten HMRC’s computer programmers. You are allowed to allocate your personal tax allowance in the way that gives the...
VAT registration threshold
This has increased to £85,000 from 1 April 2017 (and deregistration limit to £83,000). Remember that exempt income does not have to be included such as rental income or bank...
Sole Trader bookkeeping with Lewis Brownlee is now as easy as 1Tap!
Here at Lewis Brownlee we know that being a sole trader is hard enough without having to keep track of all your expenses. To make life a bit easier we’re now offering 1Tap, a...
When is your home not a home?
In a recent case HMRC tried to deny capital gains tax private residence relief where an individual bought a property “off-plan” arguing that the ownership period started from...
Election Result
What does the Hung Parliament mean from a taxation viewpoint? Probably the status quo will have to remain for a while. We will have a weak Government that will not be allowed...