19th June 2016

Brexit – the tax implications

Much of the UK’s tax legislation is independent of EU influence so will be largely unaffected. However, there are a few notable exceptions that could affect your clients’ businesses.

19th June 2016

Brexit – will it affect your tax bill?

Before the vote the Chancellor indicated there could be massive tax rises if we chose to leave the EU. Was this just campaign talk or should you brace yourself for some substantial changes to the tax system?

18th June 2016

Don’t miss the Class 1A NI deadline

All employers should now have submitted their benefits and expenses Forms P11D and corresponding annual declarations Form P11D(b) for 2015/16. The deadline for both documents was 6 July 2016. However, there’s another related deadline approaching.

17th June 2016

Clearing a director’s loan by dividend – a good idea?

Owing your company money can trigger a tax charge for which the Chancellor increased the rate in the 2016 Budget. It can be avoided by paying yourself a dividend to clear the debt, but is this the most cost-efficient option?

16th June 2016

Buy-to-let: Another twist on company ownership

You’re considering getting into the buy-to-let market. You’ve read that because of changes to the rules in April 2016 it is now more tax efficient to buy the property through a company. Is this correct?

16th June 2016

HMRC clarifies tax break on gifts

HMRC issued a statement in March 2016 confirming that where the donation (gift) is made by one person the tax relief is not jeopardised where other names are added to an accompanying message.

14th June 2016

Investing your employer pension contributions

Your company has accumulated sizeable profits and you and your fellow directors are looking for a tax-efficient way to take them. Someone has suggested buying a share of the company’s premises. Is it something worth considering?

14th June 2016

Letting expenses – bring on the replacements

Since April 2016 residential landlords have been entitled to a new tax deduction when they buy domestic items for their properties. It has a wider effect than the wear and tear allowance it replaces, but will it make you better off?

14th June 2016

Is crowdfunding taxable?

You’ve started a small business and want to raise some money through crowdfunding. A possible snag is that according to one of your colleagues, money received this way is taxable as income, is he correct?

13th June 2016

New entrepreneurs’ relief rules – a goodwill gesture

You’re planning to transfer your business to a company. You know that in 2014 some of the tax advantages for this were blocked by anti-avoidance rules, but a colleague says these were reversed in the 2016 Budget. Is he correct?

12th June 2016

Small pension pots can be tax efficient

When you reach 55 you’re allowed to access your pension savings. The trouble is that doing so can trigger unwanted tax consequences, but there’s an exception for “small pot” payments. Might you be able to take advantage of these?

11th June 2016

Tax-efficient ways to cash in an insurance bond

Insurance bonds are popular investments, but if you pay tax at higher rates when you encash them it can result in a large tax bill. The good news is there are simple and legitimate tricks you can use to avoid that. How do they work?

10th June 2016

VAT flat rate scheme – playing the percentages

HMRC has updated its guide to the flat rate scheme (FRS) and the special VAT rate that some types of business use, plus the steps it will take if you use the wrong rate. Are these changes likely to increase or lower your VAT bill?

9th June 2016

What’s new with Class 2?

You might have noticed that in mid-2015 HMRC stopped collecting/demanding payment of Class 2 (self-employed) NI contributions. This was not an act of generosity by the government but a change in the way Class 2 NI is collected.

20th May 2016

Overdrawn directors’ loans to be hit by higher tax charges

In Budget 2016 the Chancellor increased the tax rate on loans to participators with effect from 6 April 2016. What can clients do before this date to mitigate the tax increase?

20th May 2016

End of company winding up tax break

From 6 April 2016, the government is changing the way dividends and other company distributions, made in a winding up by UK and non-UK companies, are taxed for individual recipients. What do clients need to know?

20th May 2016

CIS gross payment rules relaxed

In April 2016 HMRC introduced significant changes to the Construction Industry Scheme (CIS). What do your clients need to know?

24th September 2014

Companies House – Change in Online Services

Companies house has announced a change in its core online services. Want to find out more?

24th September 2014

Undisclosed Income

Do you have undisclosed secondary income from self employment?

10th September 2014

Venture Capital Trusts

HMRC has updated their view on the tax treatment of venture capital trusts.

1st September 2014

Share Schemes

If you need to notify HMRC about changes to your company’s shares, these must be now done online.

31st August 2014

Business Rate Relief

Are you a small firm with a single business property? You could be entitled to 100% relief!

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