Welcome to the Clive Owen LLP tax articles – more can be found on our News section.
CONSTRUCTION SERVICES DOMESTIC REVERSE CHARGE (CSDRC)
The CSDRC is expected to be implemented from 1st October 2020 to remove any risk that there may be an amount deducted, which is disguised as input tax, but which has never been paid over as output tax.
Last month we highlighted the restricted annual pension allowance for those with high income, such as doctors. Note that the deadline for requesting for the additional tax to be paid out of the fund for 2017/18 is 31 July 2019.
There is a further complication for those individuals who have started drawing income from certain money purchase pension schemes. A new £4,000 limit introduced from 6 April 2017 restricts the amount that they can save in their pension and receive tax relief. Our concern is that many taxpayers may unwittingly trigger a tax charge due to this rule change.
USING A PAYE SETTLEMENT AGREEMENT TO PAY SOME OF YOUR EMPLOYEE’S TAX
DOCTORS LOBBYING FOR PENSION TAX CHANGES
SOME CARS ONLY QUALIFY FOR 6% TAX RELIEF NOW
P11D FORMS DUE SOON
REPORTING THE ISSUE OF SHARES OR OPTIONS TO STAFF
EXTRACTING PROFIT FROM THE FAMILY COMPANY
TAX PLANNING TO MINIMISE THE HIGH INCOME CHILD BENEFIT CHARGE
“RENT A ROOM” RELIEF TO CONTINUE FOR AIR BNB LANDLORDS
BUT POSSIBLE CHANGES TO CGT PRIVATE RESIDENCE RELIEF
CAPITAL ALLOWANCE ON HIGH CO2 CARS AND ASSETS IN SPECIAL RATE POOL REDUCES TO 6%
TERMINATION PAYMENT CHANGES DELAYED TO 2020
NOTIFY HMRC OF EBT AND SIMILAR LOANS BY 30 SEPTEMBER
WHAT IS THE 2019 LOAN CHARGE?
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