Tax News

Furnished holiday lettings – rollover relief

Furnished holiday lettings – rollover relief

Date posted: 4th Nov 2021

Furnished holiday lettings have a number of tax advantages compared to standard residential buy to lets. One of the key advantages is the availability of business asset rollover…

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Planning the Christmas party – make sure you don’t trip over tax liabilities!

Planning the Christmas party – make sure you don’t trip over tax liabilities!

Date posted: 4th Nov 2021

Last year, the Covid-19 pandemic and national lockdown took Christmas parties (other than virtual ones) off the agenda. This year, there may be a temptation to make up…

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Missed the 31 October 2021 deadline – do not fear, we can help!

Missed the 31 October 2021 deadline – do not fear, we can help!

Date posted: 4th Nov 2021

The deadline for the submission of a Tax Return to HMRC, on paper, lapsed on 31 October 2021. However, as we use bespoke software to electronically file Tax…

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SEISS grants – don’t forget that they are taxable! But were you eligible?

SEISS grants – don’t forget that they are taxable! But were you eligible?

Date posted: 4th Nov 2021

The self employed income support scheme (SEISS) grants were made available by HMRC last year, as a result of the lockdowns imposed under the COVID-19 legislation which meant…

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Dividends – how are they taxed?

Dividends – how are they taxed?

Date posted: 4th Nov 2021

Dividends have their own tax rules and their own rates of tax. The rules and the rates apply in the same way regardless of whether the dividends are…

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Payments on account – what are they?

Payments on account – what are they?

Date posted: 4th Nov 2021

Many clients will baulk at the fact that they will need to pay payments on account or advanced instalments, as it can seem, particularly in the first year…

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Autumn Budget 2021 – Lee Watson, my predictions

Autumn Budget 2021 – Lee Watson, my predictions

Date posted: 26th Oct 2021

The autumn Budget will take place on 27 October 2021 and I’m starting to review what key questions the Chancellor might have to face. Here a few of…

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MTD for income tax postponed to 2024/25

MTD for income tax postponed to 2024/25

Date posted: 11th Oct 2021

The planned digital tax revolution has been postponed for the time being. The government, having listened to stakeholder feedback from businesses and the accounting profession, announced that they…

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Making Tax Digital: the current state of play

Making Tax Digital: the current state of play

Date posted: 7th Oct 2021

The Making tax Digital (MTD) journey has been longer and more complicated than originally anticipated, however, when I review where we are now, I can see the progress…

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1.25% increase in NIC’s and tax dividends to fund health and social care

1.25% increase in NIC’s and tax dividends to fund health and social care

Date posted: 5th Oct 2021

In case you missed our last update, the Prime Minister announced on 7 September that the government will introduce a new 1.25% Levy to provide an extra £12…

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