Our Blog

Catch up with our latest news & events

 
Tax free perk before annual leave
30 May 2019

Tax free perk before annual leave

It is possible to make small tax-free payments to employees, including directors, and this might be an appropriate time to make a small tax-free bonus in advance of the annual holidays.

Holiday entitlements
30 May 2019

Holiday entitlements

We are fast approaching the annual holiday season, so it would seem to be a suitable time to set out employees’ rights to receive holiday pay.

Do you own a holiday let property?
29 May 2019

Do you own a holiday let property?

Did you know there are a number of tax incentives that you can take advantage of if you own and let a Furnished Holiday Lets property (FHL).

Tax Diary May/June 2019
25 Apr 2019

Tax Diary May/June 2019

1 May 2019 - Due date for Corporation Tax due for the year ended 30 July 2018.

Don’t forget the payslips
16 Apr 2019

Don’t forget the payslips

If you are an employer, you have a statutory duty to provide your employees with a copy of their P60 (pay and tax details for 2018-19) on or before the end of May 2019.

Income Tax – regional differences
11 Apr 2019

Income Tax – regional differences

You will pay Scottish Income Tax if you live in Scotland, Income Tax if you live in England or Northern Ireland and the Welsh Income Tax if you live in Wales.

Can you change a will after death?
02 Apr 2019

Can you change a will after death?

On the face of it, this sounds implausible. How can you change your will if you have died?

Expenses you can set-off against rental income
28 Mar 2019

Expenses you can set-off against rental income

The expenses you claim against your property income will need to follow the usual HMRC ruling that the costs must be incurred wholly and exclusively for the purpose of renting out the property.

Brexit Update
23 Mar 2019

Brexit Update

The last few weeks have seen some of the most extraordinary political manoeuvrings in the UK parliament, and as we complete the edit of this article, the EU parliament seems to have given us a few extra weeks to complete the withdrawal agreement and get a final draft agreed by parliament. The formal statement issued late last night (22 March 2019) says:

Retaining business records
27 Mar 2019

Retaining business records

Sole traders

If you are self-employed, and obliged to submit a self-assessment tax return, you must keep your tax records for at least five years after the 31 January submission deadline of the relevant tax year. For example, if you submit your 2018-19 tax return online on or before 31 January 2020, you must keep your records until at least the end of January 2025. Records for this purpose include those relating to personal income etc.

Spring Statement March 2019
25 Mar 2019

Spring Statement March 2019

 The following comments were written on the 13th March 2019 immediately following Philip Hammond’s presentation of the 2019 Spring Statement to Parliament. In theory, the government uses the Spring Statement to respond to the most recent forecasts made by the Office of Budget Responsibility (OBR).

Can’t pay your tax?
22 Mar 2019

Can’t pay your tax?

A reminder that HMRC may consider extended options for settling your outstanding tax bill. The key is to contact HMRC, explain why you can’t pay on time, and discuss how you can settle any outstanding liabilities.

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