TAX
P11D deadline approaching!
6 July 2018 is the deadline for employers to submit forms P11D detailing any benefits in kind received by their staff in the 2017/18 tax year (such as private medical...
What happens if I get married?
Although it’s usually not the main reason people choose to get married or enter into a civil partnership, there are a number of tax benefits which only apply to married...
Last chance for participators in tax avoidance schemes to settle with HMRC?
Individuals who participated in disguised remuneration tax avoidance schemes (which typically involved money being moved to an offshore trust, EBT or EFRB before being loaned...
What happens if… My marriage fails?
Tax is unlikely to be at the forefront of an individual’s mind when they are going through a separation. However, a lack of tax planning in these circumstances can result in...
Are you aware of the recent changes to the taxation of termination payments?
There is a common misconception that the first £30,000 paid to an employee on the termination of their employment is free from income tax...
ATED – Do you know when your return is due?
Have you completed your 2018-19 ATED return due by 30 April? The Annual Tax on Enveloped Dwellings (“ATED”) applies to companies that own UK residential property valued at...
Tax codes and collecting tax on untaxed interest
If you are not within self-assessment and have interest in excess of the savings allowance (£1,000 for basic rate taxpayers; £500 for higher rate taxpayers), HMRC will use...
ISAs – inherited on death
For deaths after 5 April 2018 there is a welcome simplification. From the date of the account holder’s death they will retain their tax free status. So there will be no...
Trust Register
As a result of the difficulties that agents have had in accessing this, HMRC have agreed that despite the deadline of 31 January 2018 for registering existing trusts on this,...
Rumoured tax changes that did not make the final budget…
At a recent tax update course, the speaker mentioned that the Treasury drafted various proposals to change certain aspects of our tax system in case the Government decided to...
Making Tax Digital update – VAT first up
The government recently indicated that they are still fully committed to their plans to operate a digital tax system. From April 2019, when submitting quarterly VAT returns,...
Landlords and carpets
Do landlords get tax relief when replacing a carpet? This is at face value a simple question but often causes tax advisors difficulty, mostly because the rules keep changing!...