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August 11, 2022
Termination payments
The tax treatment of termination payments has changed significantly over recent years. The changes have
August 11, 2022
Bona Vacantia – dissolved companies
The final step in bringing a company to a legal end is dissolution. However, one if the important points
August 11, 2022
Reminder of compensation limits for bank deposits
The bank deposit guarantee limit is the amount of money that is guaranteed for savers in UK banks and
August 11, 2022
Reminder that the plug-in grant has ended
The government plug-in grant was first introduced 11 years ago to help drivers make the move to owning an
August 11, 2022
Using the Customs Declaration Service
The Customs Declaration Service (CDS) is a new customs IT platform that has been designed to modernise
August 11, 2022
Do you qualify for the marriage allowance?
HMRC is using the wedding season to issue a reminder to married couples and those in civil partnerships
August 4, 2022
Miscellaneous income
There are special rules known as the miscellaneous income sweep-up provisions that seek to charge tax on
August 4, 2022
Using the Annual Investment Allowance
The Annual Investment Allowance (AIA) is a generous tax relief that was first introduced in 2008. The AIA
August 4, 2022
Scope of Trade
There is no statutory definition of ‘trade’. The only statutory reference to the term is that ‘trade’
August 4, 2022
Using Advisory Fuel rates
The easiest way to ensure that no car-fuel benefit charge (for private journeys in a company car) is
August 4, 2022
Tax-free trivial benefits
There is a benefit in kind (BiK) trivial exemption that applies to small non-cash benefits like a bottle
August 4, 2022
Duty free limits if you are travelling abroad
Here is a reminder of any duty payable and tax-free allowances if travelling abroad this summer.If you
July 28, 2022
Emergency tax codes
The letters in an employee’s tax code signify their entitlement (or not) to the annual tax-free personal
July 28, 2022
Settlement legislation – non-trust settlements
The settlement legislation seeks to ensure that where a settlor has retained an interest in property that
July 28, 2022
Construction services taxed at VAT zero or 5% rate
Whilst most businesses in the UK charge VAT at the standard rate of 20%, there are a number of different
July 28, 2022
Business records if self-employed
If you are self-employed as a sole trader or as a partner in a business partnership, then you must keep
July 28, 2022
Tax relief on replacement of domestic items
The replacement of domestic items relief has been in place since April 2016. The relief allows landlords
July 28, 2022
Gifts with reservation
The majority of gifts made during a person's life are not subject to tax at the time of the gift. These
July 21, 2022
Qualifying for residence nil rate band
The Inheritance Tax residence nil rate band (RNRB) is a transferable allowance for married couples and
July 21, 2022
Tax when you get your pension
There are special rules which allow individuals who have set up private pension scheme(s) to benefit from
July 21, 2022
Applying for Marriage Allowance
The marriage allowance can be claimed by married couples and those in a civil partnership where a spouse
July 21, 2022
NIC threshold increased
In the Spring Statement earlier this year, the then Chancellor, Rishi Sunak, announced an NIC tax-cut to
July 21, 2022
Entitlement to National Minimum Wage
Employers must ensure they are paying staff the new National Minimum Wage (NMW) and National Living Wage
July 21, 2022
Non-resident company taxation
Non-resident companies with a trading business in the UK are liable to pay UK Corporation Tax on their
July 14, 2022
Joining the MTD ITSA pilot
Some businesses and agents are already keeping digital records and providing updates to HMRC as part of a
July 14, 2022
Furnished Holiday Lets and VAT
The furnished holiday let (FHL) rules allow holiday lettings of properties that meet certain conditions
July 14, 2022
Filing and paying company tax returns
If you have recently setup a new limited company or are thinking of doing so then one of the areas that
July 14, 2022
Old style £20 and £50 notes
The Bank of England will be withdrawing legal tender status of paper £20 and £50 banknotes after 30
July 14, 2022
Tax gap remains at 5.1%
The tax gap for the 2020-21 tax year has been published and remains at 5.1%. This is the second lowest
July 14, 2022
Changes at HM Treasury
Last week saw the resignation of the previous Chancellor Rishi Sunak from the Government. The previous
July 7, 2022
National Insurance for company directors
Directors are classed as employees and pay National Insurance on annual income from salary and bonuses
July 7, 2022
Standards for tax agents
HMRC last published guidance on the standard for agents in January 2018 (updating the first set of
July 7, 2022
Tax if living abroad and selling UK home
One of the most often used and valuable of the Capital Gains Tax (CGT) exemptions arises on the sale of
July 7, 2022
Pensions triple lock to be reinstated
The triple lock guarantee on pensions that was suspended for the current 2022-23 tax year is to be
July 7, 2022
Childcare top-up to cover summer activities
As the school holidays fast approach, many parents face having to organise extra school holiday childcare