Tax News

Considering a property market venture?

Considering a property market venture?

Date posted: 7th Dec 2020

Is it an investment or are you trading? We have many clients who see the value of starting a property venture. Many see significant monies to be made…

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How about a virtual Christmas party?

How about a virtual Christmas party?

Date posted: 7th Dec 2020

HMRC are not the Grinch after all. They have recently announced that employers may arrange a “virtual” Christmas party this year and there will be no taxable benefit…

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“AirBnB” income – is this covered by rent a room relief

“AirBnB” income – is this covered by rent a room relief

Date posted: 9th Nov 2020

You may have seen in the newspapers and our recent article that Airbnb will share data with HMRC about the earnings of hosts (those who let out property)…

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More Time to Pay Tax Due on 31st January 2021

More Time to Pay Tax Due on 31st January 2021

Date posted: 5th Nov 2020

Those taxpayers who may have difficulty paying the tax due under self-assessment on 31 January 2021 can automatically agree more time to pay with HMRC. If you owe…

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EMI share option schemes – to continue after Brexit

EMI share option schemes – to continue after Brexit

Date posted: 5th Nov 2020

In welcome news, EMI share option schemes will continue to be available in the post Brexit era. Prior to Brexit, the tax advantages of EMI share options were…

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Company Vehicles – Court Rules in Favour of HMRC!

Company Vehicles – Court Rules in Favour of HMRC!

Date posted: 2nd Nov 2020

The Court of Appeal has agreed with prior tribunal rulings that means that certain vehicles will be treated as cars, instead of vans, for tax purposes.   What…

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HM Revenue & Customs – Latest Campaigns

HM Revenue & Customs – Latest Campaigns

Date posted: 2nd Nov 2020

As we reported a few months ago, HM Revenue & Customs (HMRC) are starting to “nudge” taxpayers and ask whether the taxpayer has fully declared their income or capital…

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Rental income – have you declared it?

Rental income – have you declared it?

Date posted: 12th Oct 2020

Over recent years we have helped a lot of new clients declare previously undeclared rental income to HMRC. The rental income has usually not been declared as a…

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HM Revenue & Customs’ Enquiries are on the Rise!

HM Revenue & Customs’ Enquiries are on the Rise!

Date posted: 12th Oct 2020

During the initial stages of the COVID-19 pandemic, HM Revenue & Customs (HMRC) re-assigned staff members to make sure that there was sufficient human resource to allow businesses…

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Subcontractors and VAT on Installation/Fitting

Subcontractors and VAT on Installation/Fitting

Date posted: 12th Oct 2020

If you are introducing subcontractors to install or fit products that you sell to customers, then you need to take care to ensure that you do not end…

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