Financial Planning
If you haven’t registered for self assessment yet, here’s what you need to do. The deadline for filing your Self Assessment tax return is 31 January (in all but a few cases), which means there’s still a few weeks left if you haven’t got yours in yet. To file your tax return you need a […]
When is a dividend taxable? Imagine a scenario. Just before the end of the tax year, you drew some cash from the company’s bank account for personal use. Now we’re in another tax year you intend to treat the payment as a dividend. When is a dividend taxable? There might be trouble if the transaction is […]
Buy To Let Finance Tax relief restriction has affected buy to let landlords of residential properties if they are individuals, partnerships or trusts since April 2017. This also effects UK landlords letting residential property overseas and non-UK resident landlords who let property out in the UK. It doesn’t affect companies, and it doesn’t apply if […]
HMRC plans delay Many businesses are now asking us: “What is the start date for Making Tax Digital?” Virtually all VAT registered businesses will have to comply, but not necessarily from 1 April 2019. So what is the start date for Making Tax Digital for your business? Timetable – Stage 1 Making Tax Digital for […]
Did you know you might be in line for a tax rebate by Christmas? Millions of employees in the service industry could collect an early Christmas present from HM Revenue and Customs (HMRC). Workers, including nurses, hairdressers, construction workers and people working in retail and food sectors, may be able to claim rebates. Staff in […]
How did the Budget Affect Property Investors? In the recent Budget, the Chancellor Philip Hammond made a number of headline-grabbing announcements. (ICYMI we published an update here). But, as is usually the case, there were significant proposals that didn’t make the front pages or news feeds. And we wanted to ask the question: how did […]
The HMRC Points-Based Penalty regime is changing. They announced that they are introducing a points-based system of late filing penalties. So how will it affect you? The new points-based penalty regime will only apply to returns (including Making Tax Digital regular updates) with a regular filing frequency, e.g. monthly, quarterly or annually. A tax payer will […]
We’ve had the announcement of the Budget 2018. But as ever the question on everyone’s lips is: how much better off will I be? Here we give you the main headlines of the Budget 2018. First, the Good News In the Budget 2018 announcement, the Chancellor increased from 6 April 2019 the tax-free personal allowance […]
Have you missed the HMRC deadline to register you untaxed income? A question we are often asked is ‘What should I do if I for registration of untaxed income?’. The deadline for informing HMRC that you have a new source of untaxed income is 6 months from the end of the tax year. So, for […]
How can I get the most tax efficient company cars or vans? “How can I get the most tax efficient company cars or vans?” is a question we are asked a lot. Company cars have become increasingly expensive from a tax and NI point of view, especially if private fuel is provided. Not only do […]
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