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Tag: Tax

Electric Cars – There’s Never Been (Or Going To Be) A Better Time

2nd December 2019 | Written by In Accountancy | Categories : Client News, News, Tax Advice
Tagged in: Tax, tax free benefit,
Electric Cars – There’s Never Been (Or Going To Be) A Better Time

Electric cars – love them or hate them there are a few facts we cannot deny… They are most definitely better for the environment They cost less to run The ‘fuel’ tax is much, much less And for now at
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NHS England Confirms Emergency Action on Pension Tax

28th November 2019 | Written by In Accountancy | Categories : Client News, Medical and healthcare, Pensions and Payroll, Tax Advice
Tagged in: NHS, Pensions, Tax,
NHS England Confirms Emergency Action on Pension Tax

NHS England has confirmed it will take urgent action on to ensure NHS workers who exceed their annual allowance during this financial year will be able to take on additional work without being left out of pocket. Last week, it
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Annual Investment Allowance – why you need to plan ahead

5th November 2019 | Written by In Accountancy | Categories : Limited Companies, Small Business Advice, Tax Advice
Tagged in: Business advice, Tax,
Annual Investment Allowance – why you need to plan ahead

Annual Investment Allowance – what is it and why does it matter? The Annual Investment Allowance (AIA)  is a 100 per cent upfront allowance that applies to qualifying expenditure up to the specified annual limit. The AIA is available for
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Tax Planning – What you should do if you run a profitable business, and when…

4th November 2019 | Written by In Accountancy | Categories : Limited Companies, Small Business Advice, Sole Traders, Tax Advice
Tagged in: Tax,
Tax Planning – What you should do if you run a profitable business, and when…

If you are running your own business holding a pre-year-end tax planning meeting with your tax advisors should be high onyour to do list. Here’s why…


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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What is Profit and how do I calculate it??

18th October 2019 | Written by In Accountancy | Categories : Limited Companies, Personal Tax
Tagged in: Tax, Turnover,
What is Profit and how do I calculate it??

What exactly is profit and why does it matter? Or what’s the difference between net and gross profit and all the other related terms we hear? If this is a question you’ve ever asked or been asked, then hopefully the
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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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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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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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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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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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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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