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Capital gains tax and gardens
Principal private residence relief HMRC accept that the garden or garage need not be adjacent to the property, but it is clearly necessary to be able to show that the gardens,...
Short-life asset elections
With the annual investment allowance (AIA) reducing to £200,000 with effect from 1 January 2016 it might be worth considering ‘de-pooling’ elections for expenditure in excess...
Determinations under self-assessment
If you are issued with a notice to file a self-assessment tax return and do not file it on time HMRC can issue a determination of your tax liability within three years of the...
Transferrable married couple’s allowance
Introduced from 6 April 2015 it would appear that HMRC’s on-line claim form is not currently accessible. Do not worry. If you are within self-assessment it should be possible...
Trivial perks
This is back on the legislative programme and hopefully will take effect from 6 April 2016. The new tax and NIC exemption of £50 will apply to as many perks as you want to...
Apprentices
From 6 April 2016 the rate of employers NIC for certain apprentices under age 25 will be zero up to the new ‘Apprentice Upper Secondary Threshold (AUST) which for this coming...
Child benefit
As you may be aware if the taxable income of either of the partners to a civil relationship or marriage falls between £50,000 and £60,000 the child benefit is clawed back at...
Mini One Stop Shop (MOSS)
Remember that if you are selling digital downloads to a non-business client in the EU you will need to register with MOSS even if your UK turnover is under the UK threshold....
Budget – Corporation tax rates
With effect from 1 April 2017 the corporation tax rate will be reduced to 19% and with effect from 1 April 2020 to 18%. This is fine provided that the additional costs that...