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Tax Advice

HMRC Collects Record Amounts Of IHT

19th October 2019 | Written by In Accountancy | Categories : Client News, Tax Advice
Tagged in: Government, HMRC, Tax,
HMRC Collects Record Amounts Of IHT

The government has announced that HMRC collected a record sum of £5.4 billion in inheritance tax (IHT) during the 2018/19 tax year. The increase comes on the back of a 15% rise in the number of estates liable for IHT.
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Experts Warning Over Insolvency Debts

16th October 2019 | Written by In Accountancy | Categories : Client News, News, Tax Advice
Tagged in: CIS, PAYE, small business, Tax, VAT,
Experts Warning Over Insolvency Debts

Prioritising HMRC over other creditors in insolvencies will have a ‘negative impact on the UK’s economic growth’, experts have warned Chancellor of the Exchequer Sajid Javid. The warning was issued in a letter from 11 business organisations and insolvency experts
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Inheritance Tax and Gifting Made Simple

13th October 2019 | Written by In Accountancy | Categories : News, Small Business Advice, Tax Advice
Inheritance Tax and Gifting Made Simple

How to ensure your children pay less inheritance tax, and don’t get caught out by your financial gifts. Inheritance tax is an area we are frequently asked about. It seems to be the last area which business owners and individuals
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Senior Clinicians’ Pensions Consultation

9th October 2019 | Written by In Accountancy | Categories : Client News, Pensions and Payroll, Tax Advice
Senior Clinicians’ Pensions Consultation

The government has launched a consultation on proposals to give senior NHS doctors and nurses access to more flexible pensions. The proposals aim to offer senior clinicians more control over their pensions growth. The consultation follows reports that senior NHS
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HMRC Latest Guidance For Employers

24th September 2019 | Written by In Accountancy | Categories : Pensions and Payroll, Tax Advice
Tagged in: CIS, HMRC,
HMRC Latest Guidance For Employers

HMRC has published the latest edition of the Employer Bulletin. This guidance for employers, and their agents, includes articles on: Class 1A liabilities payable on Termination Awards and Sporting Testimonial Payments Off-payroll working rules from April 2020 Disguised Remuneration Seasonal
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Trusts With Small Amounts Of Savings Income

21st September 2019 | Written by In Accountancy | Categories : News, Tax Advice
Tagged in: HMRC, Tax, trusts,
Trusts With Small Amounts Of Savings Income

In the latest Trusts and Estates Newsletter HMRC has confirmed the continuation of the interim arrangement for interest reporting. In 2016 the requirement for payers to deduct tax at source on bank and building society interest was removed and income
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Self-Assessment Deadlines

11th September 2019 | Written by In Accountancy | Categories : Client News, Personal Tax, Tax Advice
Self-Assessment Deadlines

Two self assessment deadlines are approaching: 5th October 2019 For those individuals who have not previously completed a tax return but need to report a liability for 2018/19. 31st October 2019 For those individuals who have previously submitted ‘paper’ self
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Digital Services Tax

8th September 2019 | Written by In Accountancy | Categories : Client News, Personal Tax, Small Business Advice, Tax Advice
Tagged in: Government, Tax,
Digital Services Tax

From April 2020, the government will introduce a new 2% tax on the revenues of search engines, social media platforms and online marketplaces which derive value from UK users. However, this only applies when the group’s worldwide revenues from these
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Off-Payroll Rules For The Private Sector

2nd September 2019 | Written by In Accountancy | Categories : Client News, Pensions and Payroll, Tax Advice
Tagged in: Accountancy, Government, HMRC,
Off-Payroll Rules For The Private Sector

The government has published the draft legislation for the next Finance Bill including the rules for off-payroll working in the private sector. The legislation is open for consultation until 5 September 2019. The new rules will apply from April 2020
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Private Residence Relief Changes

27th August 2019 | Written by In Accountancy | Categories : Tax Advice
Tagged in: Government, HMRC, Tax,
Private Residence Relief Changes

The government published draft legislation for the next Finance Bill including draft clauses on the changes to Private Residence Relief (PRR). The draft legislation is subject to consultation which closes on 5 September 2019. Following consultation this Spring, changes are
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VAT Changes May Cause Construction Chaos

25th August 2019 | Written by In Accountancy | Categories : Construction Industry, Limited Companies, Tax Advice
Tagged in: CIS, VAT, VAT Registered,
VAT Changes May Cause Construction Chaos

The Federation of Master Builders (FMB) is warning that a major change in the way that VAT is accounted for in the building and construction sector which takes effect later this year may cause chaos. The VAT domestic reverse charge
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Working Parents May Be Eligible For Tax-Free Childcare This Summer

23rd August 2019 | Written by In Accountancy | Categories : Client News, Small Business Advice, Tax Advice
Working Parents May Be Eligible For Tax-Free Childcare This Summer

The government is reminding working parents that they could ease this summer’s childcare costs by using Tax-Free Childcare (TFC). The scheme is worth up to £2,000 a year for each child and allows parents to save regularly for childcare costs.
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