Tax
Inheritance Tax – What You Need to Know (Part One)
It’s the tax we don’t talk about – and the most hated tax of all!
A lot of people have heard of inheritance tax but it’s one of those things that you’ll not think about if you don’t have much wealth. Even if you do, we don’t like to talk about it “seriously”, in the main.
Making Tax Digital (‘MTD’), Deadline Looming
“The hurrier I go, the behinder I get!”
Alice In Wonderland, Lewis Carroll
HMRC is currently piloting Making Tax Digital (MTD) for VAT but this is by invitation only. Once HMRC is satisfied that things are working as expected, it proposes to allow business to join the pilot without invitation. It will be interesting to see when this happens, which will be the true litmus test.
Are You a Personal Services Company (‘PSC’)?
Keep Calm and Carry On Contracting? But, are you a Personal Service Company?
“IR 35” was the 1999 Inland Revenue pamphlet that explained to companies they could be liable for paying a kind of payroll tax. This was for any “one-man” or “one-woman” Director business providing personal services to a main business contractor, through their own Personal Service Company (PSC).
New HMRC Offshore Penalties are Coming
Requirement to Correct: Out of Mind but not Out of Sight
HMRC is gearing up for a seriously new hard penalty regime that comes in to force from 1st October 2018. It will impact anyone who has not by then, told HMRC they owe UK tax up to 5th April 2017 relating to offshore interests.
The ‘B’ Word is Looming
Brexit: Deal or No Deal?
The dreaded ‘B’ word, hasn’t been mentioned by us until now. That’ll be “Brexit”, then. Up to now, we have resisted temptation to even utter the word. But we are getting a bit close now to what may happen: Deal? No deal? No Brexit post Referendum #2? Don’t laugh at No Brexit, it could happen. We cover all potential political angles here.
Separation Anxieties When it Comes to Assets? What You Need to Know
Not really news…. but maybe “News to you”
In this occasional series, we look at things that you might not know but knowing could save you (or someone you know) some money. In this article we look at couples and separation.
Understanding What is Your ‘Main Residence’?
Going all around the houses, for nothing
A regular example of things going wrong is claiming to be tax exempt when you sell your dwelling at a profit. Many people think that to occupy a property as a dwelling is enough to get this “Main Residence Relief”.
VAT – Building Complexity Next Year
The Reverse Charge Mechanism is Coming
HMRC is planning to introduce new rules to combat construction fraud. The changes are a long way off, but we want to tell you about this now in case you haven’t heard about this yet.
PAYE – Pay as You Earn – 2018 Update
If you are an employer, important deadlines are looming on a number of topics for the tax year 2017-18.
Thursday 5 July 2018
Receipt by HMRC of PAYE Settlement Agreement document.
Can we help? Explore our services