Tax Talk

Furnished Holiday lets – implications of COVID-19.

Furnished Holiday lets – implications of COVID-19.

Date posted: 17th Mar 2022

One of the sectors hit most by COVID-19, was the travel and tourism sector. In particular, Furnished Holiday Let (FHL) businesses were required to shut for a large…

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CONSIDER A SALARY SACRIFICE SCHEME

CONSIDER A SALARY SACRIFICE SCHEME

Date posted: 15th Mar 2022

Salary sacrifice schemes are popular schemes but there advantages have been reduced by HMRC over the years. One of the most popular areas of salary sacrifice arrangements relate…

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Tax relief for pre-trading expenses

Tax relief for pre-trading expenses

Date posted: 5th Jan 2022

There is a lot of preparation involved in setting up a business, and costs will be incurred, which may be substantial. Before it is able to start trading,…

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Using your capital gains tax allowance

Using your capital gains tax allowance

Date posted: 5th Jan 2022

All individuals are entitled to an annual exempt amount for capital gains tax purposes. Net gains (chargeable gains less allowable losses) for the tax year are free of…

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Struggling to pay your tax bill – what should you do?

Struggling to pay your tax bill – what should you do?

Date posted: 5th Jan 2022

The January self-assessment payment deadline is not well timed, falling as it does in a month when people may be already struggling to pay their Christmas credit card…

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Tax deadlines on the horizon

Tax deadlines on the horizon

Date posted: 5th Jan 2022

As the clock struck midnight on 31 December 2021, attention may have turned to your plans for 2022 – booking holidays, seeing friends or getting back to the…

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Rewarding employees – be aware of the tax risks if you are gifting shares!

Rewarding employees – be aware of the tax risks if you are gifting shares!

Date posted: 15th Dec 2021

Given the ongoing shortage of employees that appears to be facing every sector in every industry, there can be a temptation to simply gift shares in the employing…

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Property income reporting

Property income reporting

Date posted: 15th Dec 2021

The deadline for filing your 2020/21 Tax Return online is 31 January 2022. If you received income from property, you may need to tell HMRC about it on…

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Child benefit – it is still worth registering even if you are not eligible?

Child benefit – it is still worth registering even if you are not eligible?

Date posted: 15th Dec 2021

If you are responsible for bringing up a child who is under the age of 16, or under the age of 20 where they remain in approved education…

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CIS – How to work out whether it applies – practical problems on submission, penalties

CIS – How to work out whether it applies – practical problems on submission, penalties

Date posted: 15th Dec 2021

The Construction Industry Scheme (CIS) requires registration of anyone who works in that industry, be that a sole trader or a company. The registration rule includes the largest…

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