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Filtered By Category: Taxation

Nov 24 2017

Our Autumn Budget Summary 2017 is now available to download

Categories: Taxation

Chancellor, Philip Hammond presented his Autumn Budget to Parliament on 22 November 2017. We have put together a Budget Summary that covers the key tax changes announced in the Chancellor’s speech and includes tables of the main rates and allowances. You can download a copy of our Autumn Budget Summary 2017 here. Now we can more

Nov 22 2017

Our Autumn Budget 2017 Commentary

Categories: Taxation

Chancellor, Philip Hammond, delivered his latest Budget earlier today with his usual dry wit and good natured barbs directed at the other side of the Commons. In tax terms, little of real note, and as usual, a careful review of press releases and announcements will be required.  At an initial glance, we would note: – more

Sep 26 2017

Simple Assessment – Is it the end of the Tax Return?

Categories: Taxation

HMRC has now started the process of withdrawing the need to complete tax returns in certain circumstances. For example, if you became entitled to the state pension at some point after 6 April 2016 but continued to have another source of income such as employment income, then you may be due to pay tax on more

Aug 29 2017

Inheritance tax relief of Furnished Holiday Lets receives another blow

Categories: LeisureTaxation

A recent tax case before the First Tier Tribunal has poured further doubt on the availability of inheritance tax relief on properties let as furnished holiday accommodation (FHLs). Business Property Relief (BPR) can provide 100% relief against inheritance tax where a business activity is deemed to be “wholly or mainly trading”. If a business activity more

Aug 17 2017

Criminal Finances Act 2017

Categories: Taxation

The Criminal Finances Act 2017 will give law enforcement agencies and partners, further capabilities and powers to recover the proceeds of crime, tackle money laundering, tax evasion and corruption, and combat the financing of terrorism. From 30 September 2017, the Criminal Finances Act 2017 will – as well as a number of other new powers more

Aug 4 2017

Benefits of electric company cars

Categories: TaxationTechnology

Last week the UK government announced plans to ban the sale of new diesel and petrol cars and vans by 2040. This move will make electric vehicles more and more important in the coming years however is already of great benefit to many companies. Buying or leasing an electric vehicle as opposite to traditional petrol more

Jul 19 2017

HMRC to use PAYE information to make in-year adjustments

Categories: Amber AccountingTaxation

From July 2017, HMRC will start to use PAYE information to make in-year adjustments to taxpayers tax codes in real-time. This will avoid both under and overpayments from occurring by the end of the tax year. Taxpayers will be notified when the right tax is not paid and, through their Personal Tax Account, HMRC will more

Jul 14 2017

MTD Update

Categories: Amber AccountingTaxation

Following it’s removal from the Finance Bill earlier in the year, the treasury has issued guidance as to its revised plans for Making Tax Digital. Under the original plans, businesses and landlords with turnover in excess of £10,000 would have been required to submit mandatory quarterly reports. With those who are VAT registered commencing from more