Blog

Last call for VAT traders to prepare for new filing regulations


March 6th, 2019

As we have mentioned before in this newsletter, VAT returns filed for periods commencing on or after 1 April 2019, may need to be filed using the new Making Tax Digital (MTD) protocols. The new filing obligations will apply to VAT registered businesses with turnover above the current VAT registration limit, £85,000. To comply with […]


Limitations of tax relief when you sell your home


March 6th, 2019

It is a commonly held point of view that when you sell your home you won’t pay any tax, and in particular, that you won’t pay any Capital Gains Tax on the difference between the purchase and sales prices. Unfortunately, there are circumstances when this is not true. For example, you may have some tax […]


Loans to employees


March 6th, 2019

A reminder that if your business makes a loan to your employees or their relatives this can create tax problems for both employees and employers. And please don’t forget that the term “employee” includes directors, and also that loans to family members may be caught. For example, the employer will have an obligation to report […]


Phone scams


March 5th, 2019

It would seem that fraudsters, keen to relieve you of your hard earned cash, are switching to phone calls now that email scams are becoming less effective. HMRC recently issued the following instructions to UK taxpayers and requested that we all assume a new level of vigilance. They said: If you know someone who has […]


HMRC\’s drive towards digitisation


February 28th, 2019

Digitisation is simply the conversion of text, pictures, numbers and sound into a form that can be processed by a computer. Add to this the replacement of feet on the ground with algorithms and programs that respond to certain criteria and we can start to see where the management of our tax system is drifting. […]


What is TSP?


February 26th, 2019

HMRC have issued a letter to VAT registered traders that either export or import goods to and from the EU. They are introducing new Transitional Simplified Procedures (TSPs) for customs purposes. For importers the text says: HMRC is introducing new Transitional Simplified Procedures (TSP) for customs, to make importing easier for the initial period after […]


How lean is your business?


February 21st, 2019

There are obvious benefits to your personal wellbeing if you sweat it out at the gym three times a week: improved stamina, enviable muscle tone, endorphin buzz and unwanted pounds shed. But could your business benefit from a similar process? We are not suggesting that business owners and their staff leap to their feet and […]


Parliament eases through Finance Act 2019


February 19th, 2019

According to a recent government announcement, 32 million people will be better off as the Finance Bill 2018-19 receives Royal Assent.   Treasury pundits who wrote the announcement said: A basic rate taxpayer will payat least £1,200 less income tax than they did in 2010, thanks to the government’s changes, giving people more help with the cost […]


Goodbye 2017-18 and hello to 2018-19


February 14th, 2019

The deadline for filing 2017-18 self-assessment tax returns without paying a penalty for late submission has passed (31 January 2019). But a new and pressing deadline now presents itself: 5 April 2019. As we have outlined in previous posts, most tax planning needs to be considered and actioned before the end of the tax year […]


What was all the fuss about?


February 12th, 2019

Last year, the 23 May 2018 to be precise, the UK adapted the General Data Protection Regulations (GDPR). The deadline created a rush of publicity and activity as businesses across the UK pored over their data processing systems, making changes to accommodate the new rules. After the deadline, its as if the curtain came down […]


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