News
How to tell if an email is fraudulent
11 September 2019
Email scams have become increasingly common, with fraudsters claiming to be from companies, banks and even HM Revenue & Customs (HMRC) to obtain your data and bank details. The fraud, which is also known as a phishing scam, can also involve malicious software that can infect your device with a virus.
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Government’s draft IR35 legislation contains important changes
16 August 2019
After much anticipation, the Government has now published its draft legislation for the off-payroll working (IR35) rules, which will be enforced in the private sector from 6 April 2020. The latest policy document for the private sector shares a number of similarities with that already in force in the public sector.
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Construction businesses only have weeks left to prepare for the VAT reverse charge
16 August 2019
Businesses in the construction industry now have only a matter of weeks left to prepare for the new VAT domestic reverse charge regime. These new rules will be enforced from 1 October 2019, significantly changing the VAT affairs and tax liabilities of companies in the construction industry.
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HMRC outlines changes to Capital Gains Tax treatment on second homes
16 August 2019
From April 2020, the date at which Capital Gains Tax (CGT) must be paid on a second home property disposal is changing. After this date, taxpayers will only have 30 days to file their return and make an advance payment towards their tax bill.
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Summer childcare costs cooldown with Tax-Free Childcare
16 August 2019
The Government wants to remind working parents that they could be entitled to up £2,000 per child per year to help with the costs of childcare, including regulated holiday clubs during the school holidays.
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Employment Allowance to be restricted from next year
16 August 2019
At the moment businesses and charities of all sizes can benefit from Employment Allowance. However, from the start of the new tax year in April 2020, the allowance will only be available to employers with a secondary National Insurance Contributions bill in the current tax year of less than £100,000.
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Principal Private Residence Relief and Lettings Relief changes due in April 2020
16 August 2019
The start of the next tax year in April 2020 will see key changes come into effect in respect of Principal Private Residence Relief (PPR) and Lettings Relief, both of which can be used to soften the impact of Capital Gains Tax (CGT) on property disposals.
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New figures show that a quarter of estates paying Inheritance Tax (IHT) are investigated by HMRC
16 August 2019
The response to a Freedom of Information (FoI) request has revealed that as many as one in four estates that are liable for IHT are investigated each year. In 2018-19, more than 5,500 investigations were launched by HMRC into the approximately 22,000 estates that had to pay the tax.
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Wealthiest UK families save nearly £700 million a year in Inheritance Tax
10 July 2019
A new report has found that a significant proportion of the UK’s Business Relief goes to those with more than £1 million in assets. Tax Justice UK, a campaigning organisation, has revealed that 234 wealthy families shared £458 million in tax relief in the 2015-16 year thanks to Inheritance Tax breaks via Business Relief.
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Taxpayers’ bills delayed by payment on account errors
10 July 2019
The Association of Taxation Technicians (ATT) has revealed that problems with HMRC’s IT systems earlier this year, relating to calculations for payment on account, mean that some taxpayers will not receive tax demands this month. The glitches in the tax authority’s systems during the self-assessment tax return...
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Case Studies
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Customer care is top of the list for packaging business
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A shared passion for architecture and a head for numbers
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A taste for growth, a thirst for knowledge
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Cut above the rest in personal management style
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A modern approach required for music moguls
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Sometimes a business does exactly as it says on the tin
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Taxing demands with old school charm
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Smiles all round for dental practice
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Child's play with proactive accounts management