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IHT and domicile

Domicile is a general legal concept which in basic terms is taken to mean the country where you permanently belong ...
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/ Inheritance Tax

CGT Roll-over Relief

Business Asset Roll-over Relief is a valuable relief that allows the deferral of Capital Gains Tax (CGT) on gains made ...
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/ Capital Gains Tax

Structures and Buildings Allowance qualifying expenditure

The Structures and Buildings Allowances (SBA) facilitates tax relief for qualifying capital expenditure on new non-residential structures and buildings. The ...
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/ Capital allowances

What is a tax calculation?

A tax calculation is created by HMRC if you have not paid the right amount of tax. HMRC’s annual reconciliation ...
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/ Income Tax

Teesside Freeport open for business

The first of the English Freeports, Teesside, opened operations on 19 November 2021, and is expected to be followed shortly ...
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/ Business Support

New warnings from HMRC re tax fraudsters

Fraudsters are continuing to target taxpayers with scam emails in advance of the 31 January 2022 deadline for submission of ...
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/ General

Tax Diary December 2021/January 2022

1 December 2021 - Due date for Corporation Tax payable for the year ended 28 February 2021. 19 December 2021 ...
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/ Tax Diary

VAT and business gifts

In general, VAT does not have to be accounted for on business gifts to the same person as long as ...
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/ Value Added Tax

If clients ask – trading hours for retailers

There are special rules that govern the trading hours that certain retailers must follow on a Sunday. These rules are ...
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/ General

Appealing to the First-tier Tribunal (Tax)

There are a number of different options open to taxpayers that disagree with a tax decision issued by HMRC. Usually, ...
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/ HMRC notices

Self-Assessment countdown

There are now less than 75 days to file your 2020-21 Self-Assessment tax return. Last year over 12.5 million taxpayers ...
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/ Income Tax

Business gifts

The rules for deciding whether a gift given in the course of business is deductible are complex. The rules for ...
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/ Business

A reminder of trivial benefit rules

We wanted to remind readers of the trivial benefits in kind (BiK) rules. The BiK exemption applies to small non-cash ...
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/ Employee Benefits

VAT business test

There are a number of conditions that must be satisfied in order for an activity to be within the scope ...
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/ Value Added Tax

Tax treatment of incentive scheme awards

Some companies use incentive award schemes to encourage their employees in various ways. For example, to sell more of their ...
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/ Employee Benefits

What can be transferred between group members?

Corporation Tax relief may be available when a company or organisation makes a trading loss. Companies that are eligible for ...
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/ Corporation Tax

Reporting COVID support scheme grants to HMRC

Most COVID support scheme grants are treated as taxable income in the same way as other taxable receipts and need ...
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/ Business Support

Vehicles eligible for a plug-in grant

The low-emission vehicles plug-in grant can help you save up to £2,500 on the purchase price of new low-emission vehicles ...
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/ General

Vehicles exempt from Vehicle Excise Duty

Vehicle Excise Duty (VED), also commonly referred to as vehicle tax, is an annual tax levied on owners of most ...
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/ General

Switching between film and TV reliefs

Film tax relief (FTR) can increase the amount of expenditure that is allowable as a deduction for tax purposes or, ...
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/ Corporation Tax

Discovery assessment changes

HMRC has taken action to ensure that discovery assessments relating to certain aspects of the High Income Child Benefit Charge ...
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/ HMRC notices

VAT reverse charge and the flat rate scheme

There are special VAT rules for building contractors and sub-contractors that came into effect on 1 March 2021. The new ...
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/ Value Added Tax

Vehicle benefit charges from April 2022

The vehicle benefit charges were updated following the Chancellor's Budget speech. Where employees are provided with fuel for their own ...
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/ Employment & Payroll

More time to pay Capital Gains Tax

The Capital Gains Tax (CGT) reporting and payment date for UK residents that sell a residential property changed with effect ...
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/ Capital Gains Tax

Self-employed basis period reforms

The government announced back in September that the introduction of Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) has ...
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/ HMRC notices

Autumn Budget 2021 – Alcohol and Tobacco Duty

As part of the Budget measures the Chancellor announced, to a big cheer, that the planned duty rates on beers, ...
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/ Other duties

Autumn Budget 2021 – Creative industry tax reliefs

The sunset clause for the Museum and Galleries Exhibition Tax Relief (MGETR) was supposed to come into force on 31 ...
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/ Business Support

Autumn Budget 2021 – Dividend tax rates

As announced on 7 September 2021, the 1.25% increase in NIC contributions from April 2022 will be mirrored by a ...
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/ Income Tax

Autumn Budget 2021 – £1 million Annual Investment Allowance

In the Spring Budget earlier this year, the government announced that the temporary Annual Investment Allowance (AIA) cap of £1 ...
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/ Capital allowances

Autumn Budget 2021 – Minimum Wage increases

The Chancellor of the Exchequer, Rishi Sunak confirmed that the government has accepted in full the proposals of the Low ...
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/ Employment & Payroll

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