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2020 May bank holiday will be moved to mark 75th anniversary of VE Day
19/06/2019 - More...
The government has announced that the date of next year’s early May bank holiday is to move from Monday, 4 May to Friday, 8 May to mark the 75th anniversary of VE Day. This is only the second time ever that the early May bank holiday has been moved – the first was in 1995 to mark the 50th...

Gifts with strings attached
18/06/2019 - More...
The majority of gifts made during a person's life are not subject to tax at the time of the gift. These lifetime transfers are known as 'potentially exempt transfers' or 'PETs'. These gifts or transfers achieve their potential of becoming exempt from Inheritance Tax if the...

The tax consequences of social events
18/06/2019 - More...
The cost of a staff party or other annual entertainment is generally allowed as a deduction for tax purposes. If you meet the various criteria outlined below there is no requirement to report anything to HMRC or pay tax and National Insurance. There will also be no taxable benefit charged to...

Selling the family heirlooms
18/06/2019 - More...
There are special rules concerning the payment of Capital Gains Tax (CGT) on the sale of personal possessions also known as 'chattels'. Personal possessions are generally defined as possessions with a predictable useful life of 50 years or less and are exempt from CGT up to a value of...

When does ATED apply?
18/06/2019 - More...
The Annual Tax on Enveloped Dwellings (ATED) came into effect from 1 April 2013. The tax applies to certain Non-Natural Persons (NNPs) that own interests in dwellings valued at more than £500,000. These provisions affect most companies, partnerships with company members and collective...

VAT and disaggregation
18/06/2019 - More...
The artificial separation of businesses is where two or more businesses are split, and each 'separate' entity operates below the VAT registration threshold (currently £85,000). This is known as disaggregation. HMRC has legal powers to direct that businesses that have been artificially...

HMRC’s complaint handling process
18/06/2019 - More...
Taxpayers may find themselves in a position where they need to make a complaint to HMRC. Complaints can relate to many different issues such as unreasonable delays, mistakes and poor treatment by HMRC’s staff. Note, there is a separate procedure to be followed by taxpayers that disagree with a...

On your e-bike
11/06/2019 - More...
The Cycling Minister, Michael Ellis, has announced a number of changes to the Cycle to Work scheme in an announcement that was timed to coincide with Bike week. Bike week is an annual celebration to showcase cycling across the UK and runs from 8 – 16 June. The Cycle to Work scheme was...

HMRC cancels penalties charged to 6,000 families
11/06/2019 - More...
The High Income Child Benefit Charge (HICBC) was introduced in January 2013 and applies a charge to taxpayers whose income exceeds £50,000 in a tax year and who are in receipt of child benefit. The charge claws back the financial benefit of receiving child benefit either by reducing or...

HMRC blocks phone fraudsters
11/06/2019 - More...
Fraudsters have been blocked from using HMRC’s most used helpline numbers after the introduction of new defensive controls. These fraudsters had been able to make calls to taxpayers across the UK which appeared to be coming from HMRC by mimicking helpline numbers. These fraudsters are usually...

Free television licences scrapped for over-75s
11/06/2019 - More...
The TV licence fee has not been payable by those aged 75 or over since 2001. During 2015, the government reached an agreement with the BBC as part of the last charter renewal that it will take on the cost of free television licences for over-75s by 31 May 2020 as part of the fee settlement. The...

Genuine HMRC messages
11/06/2019 - More...
HMRC has issued an updated version of their online guidance on Genuine HMRC contact and recognising phishing emails and texts. The guidance provides a current list of genuine messages from HMRC. This includes email messages, text messages and telephone contacts from HMRC. The latest updates on the...

Free information about companies
11/06/2019 - More...
A surprising amount of free information about companies is available from Companies House. This is in line with the government’s commitment to free data and ensures that all publicly available digital data held on the UK register of companies is accessible free of charge. These records provide...

Employer owned property and sub-letting
11/06/2019 - More...
In some industries, employers provide accommodation to employees because this is required by the nature of the job. There are no tax charges in respect of the provision of living accommodation where it is necessary for the proper performance of the employee’s duties that he or she should...

Cashback schemes and tax
11/06/2019 - More...
Statement of Practice 4/97 sets out HMRC’s views on the correct treatment for tax purposes of commission, cashbacks and discounts. Cashbacks are taken to mean lump sums received by a customer as an inducement for entering into a transaction for the purchase of goods, investments or services...

VAT reverse charge construction industry
11/06/2019 - More...
A change to the VAT rules first announced at Budget 2018, will come into effect from 1 October 2019. This change will make the supply of construction services between construction or building businesses subject to the domestic reverse charge. The reverse charge will only apply to supplies of...

Working past retirement age
04/06/2019 - More...
There are many taxpayers who have reached the State Pension age and continue to work. In most cases they no longer need to pay any National Insurance Contributions (NICs). At State Pension age, the requirement to pay Class 1 and Class 2 NICs on employed or self-employed earnings ceases. However,...

Working from home allowance
04/06/2019 - More...
If you are self-employed and running a business from your home, there are simplified arrangements available for claiming a fixed rate deduction for certain expenses where there is a mix of business and private use. The simplified expenses rules are not available to limited companies or business...

Working tax credits you could claim
04/06/2019 - More...
The Working Tax Credit (WTC) is designed to help taxpayers on low incomes by providing top-up payments and includes those who do not have children. There are extra amounts available for qualifying childcare expenses and working households in which someone has a disability. The basic amount of WTC is...

New crackdown on funeral plans
04/06/2019 - More...
The government has announced new plans to crackdown on high pressure and bullying tactics to sell pre paid funeral plans. These tactics are often used to target those who are old and vulnerable and unaware exactly what they are buying. In some cases, the funeral plans are sold with misleading...

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