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Tax Advice

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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How to improve cash flow in a small business: Cash really is King!

23rd August 2019 | Written by In Accountancy | Categories : Client News, Limited Companies, News, Small Business Advice, Tax Advice
How to improve cash flow in a small business: Cash really is King!

How to improve cash flow in a small business? This is a question we are often asked by clients and contacts alike. I continue to be surprised by the number of businesses out there who focus on top line sales
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IR35: What’s next for Personal Service Companies?

20th August 2019 | Written by In Accountancy | Categories : Contractors, News, Tax Advice
Tagged in: IR35, tax advice,
IR35: What’s next for Personal Service Companies?

If you’re an individual contractor trading through your own Limited or Personal Service Company (PSC) you will be aware of IR35 Legislation which has been in place since April 2000. Since this date it has been the contractor’s responsibility to
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Consultation on the Operation of Insurance Premium Tax

26th July 2019 | Written by In Accountancy | Categories : News, Tax Advice
Tagged in: HMRC, Tax, VAT,
Consultation on the Operation of Insurance Premium Tax

HMRC has launched a consultation to review the extent to which the emerging practices are leading to ‘unfair tax outcomes’ in the administration and collection of Insurance Premium Tax (IPT). HMRC’s consultation document states: ‘We have been made aware of
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Payment On Account Confusion

23rd July 2019 | Written by In Accountancy | Categories : News, Tax Advice
Payment On Account Confusion

Under self assessment taxpayers are required to make payments on account of their tax liabilities. The payment on account instalments consist of two payments on account of equal amounts: the first on 31 January during the tax year and the
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Tax Gap Remains Low

15th July 2019 | Written by In Accountancy | Categories : News, Personal Tax, Tax Advice
Tagged in: HMRC, Tax, tax gap,
Tax Gap Remains Low

HMRC has published a report showing that the UK tax gap in 2017/18 is estimated to be £35 billion.  This is 5.6% of total theoretical tax liabilities, and a small increase of 0.1% from 5.5% in 2016/17. HMRC therefore secured
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Consultation on Ancillary Capital Gains Reliefs

8th July 2019 | Written by In Accountancy | Categories : Tax Advice
Tagged in: Government,
Consultation on Ancillary Capital Gains Reliefs

A capital gains tax (CGT) exemption applies when an individual disposes of a dwelling that has been used as their only or main residence under the Private Residence Relief (PRR) rules. The exemption applies as long as the relevant conditions
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Forms P11D – Reporting Employee Benefits

4th July 2019 | Written by In Accountancy | Categories : Tax Advice
Tagged in: PAYE, Payroll, Tax,
Forms P11D – Reporting Employee Benefits

The forms P11D which report details of benefits and some expenses provided to employees and directors for the year ended 5 April 2019, are due for submission to HMRC by 6 July 2019. The process of gathering the necessary information
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OTS Calls For Simplifying Everyday Tax For Smaller Businesses

3rd July 2019 | Written by In Accountancy | Categories : Limited Companies, Tax Advice
Tagged in: HMRC, PAYE, Tax,
OTS Calls For Simplifying Everyday Tax For Smaller Businesses

A report by the Office of Tax Simplification (OTS) calls on the government to prioritise action to ‘address long-standing concerns about the experience of smaller businesses’. The report considers the business lifecycle, especially those starting up and provides recommendations in
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Cash Accounting for Landlords

28th June 2019 | Written by In Accountancy | Categories : Limited Companies, News, Personal Tax, Tax Advice
Tagged in: self-employed, Tax,
Cash Accounting for Landlords

Landlords – remember to prepare your accounts on the cash accounting basis. Unless you have specifically opted out of cash accounting (which you need to do each year on your tax return), remember that the cash basis now applies automatically
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Marriage Allowance in 2019

27th June 2019 | Written by In Accountancy | Categories : News, Personal Tax, Tax Advice
Marriage Allowance in 2019

So, perhaps not a reason to pop the question, but if you are married, and are eligible you should definitely check whether you have been claiming any marriage allowance available to you. What are the tax benefits for married couples
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Tax Free Childcare – what you need to know

26th June 2019 | Written by In Accountancy | Categories : News, Personal Tax, Tax Advice
Tax Free Childcare – what you need to know

Tax Free Childcare is something which all new parents and parents to be should be aware of. For many working parents, childcare costs can play a large role when planning a return to work, or considering their career options and
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