Tax News

Property businesses – what expenditure can be claimed?

Property businesses – what expenditure can be claimed?

Date posted: 21st Jun 2022

In common with other types of businesses, expenses are unavoidable when running a property business. However, subject to certain conditions, it is possible to obtain tax relief for…

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The end of the solvent company’s life – what are the tax implications?

The end of the solvent company’s life – what are the tax implications?

Date posted: 21st Jun 2022

All good things, must come to the end. If you are operating your own limited company and looking to retire or cease trading, then you will need to…

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‘Trivial benefits’ – what is trivial?

‘Trivial benefits’ – what is trivial?

Date posted: 21st Jun 2022

Legislation around ‘Trivial Benefits’ was introduced a few years ago, to save employers from having to report relatively small amounts given to employees as taxable on a form…

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Filing your tax return early – what are the benefits?

Filing your tax return early – what are the benefits?

Date posted: 21st Jun 2022

A lot of taxpayers are under the impression that if they file their tax return earlier than the January deadline, they will be required to pay the tax…

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CAPITAL GAINS TAX ON SEPARATION AND DIVORCE

CAPITAL GAINS TAX ON SEPARATION AND DIVORCE

Date posted: 21st Jun 2022

Sadly, marriages and civil partnership do end. Understandably, when a married couple or civil partners separate, tax planning may not be at the top of their list of …

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SALARY SACRIFICE SCHEMES – GET THE TIMING RIGHT

SALARY SACRIFICE SCHEMES – GET THE TIMING RIGHT

Date posted: 21st Jun 2022

In recent times, many employers have organised salary sacrifice arrangements to allow employees to give up some of their contractual salary in exchange for say additional pension contributions…

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ELECTRIC COMPANY CAR –  DOES IT NEED TO BE NEW?

ELECTRIC COMPANY CAR – DOES IT NEED TO BE NEW?

Date posted: 21st Jun 2022

In short, no, but there can be tax differences between acquiring new and second hand cars. As things stand, the shortage of semiconductors has meant long delays in…

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HMRC widens the net for Trust reporting via the Trust Registration Service

HMRC widens the net for Trust reporting via the Trust Registration Service

Date posted: 27th May 2022

IMPORTANT NOTICE FOR ALL TRUSTEES, CO-OWNERS OF PROPERTY AND THOSE WITH INVESTMENTS HELD IN TRUST. As a result of the latest money laundering directive, HMRC have extended the…

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Employment Related Securities Reporting

Employment Related Securities Reporting

Date posted: 27th May 2022

Have you issued shares or options to Company employees during the 2021/2022 tax year? If a company employee, or associate of an employee, has acquired securities, either from…

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Changes to VAT penalties and VAT Interest charges

Changes to VAT penalties and VAT Interest charges

Date posted: 25th May 2022

Changes to VAT penalties and VAT interest charges which were due to be introduced for VAT return periods beginning on or after 1 April 2022 have been postponed…

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