News

April 10, 2016

Corporation Tax computations

The Office of Tax Simplification (OTS) provides independent advice to the government on simplifying the UK tax system, with the ...
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HMRC interest rates

Following the recent increase in the Bank of England base rate to 0.75%, HMRC has announced changes to the rates ...
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The Cycle to Work scheme and National Minimum Wage

There are special rules involving bicycles usually referred to as 'Cycle to Work' arrangements. The Cycle to Work scheme was ...
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Intellectual property scam

The Intellectual Property Office (IPO) is warning taxpayers of a new intellectual property (IP) scam, where taxpayers receive unsolicited invitations ...
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New counter-fraud squad

A new Government Counter Fraud Profession (GCFP) is to be launched on 9th October to help fight fraud in the ...
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Duty free limits for travellers

Here is a reminder for travellers of their duty and tax free allowances whilst travelling this summer.Travelling to an EU ...
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VAT on transfer of business as a going concern

The transfer of a business as a going concern (TOGC) rules consider the VAT liability on the sale of a ...
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Time to declare offshore assets?

HMRC has published a press release to remind taxpayers that the 30 September 2018 deadline to come forward and declare ...
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Limited liability for sole traders?

The Office of Tax Simplification (OTS) has updated its papers on the possibility of launching a Sole Enterprise Protected Assets ...
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Employers have published gender pay gap data

Under new gender pay gap regulations that came into force in April 2017, all employers with over 250 employees are ...
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Emails and letters from HMRC

HMRC continues to warn taxpayers about email phishing scams. Phishing emails are used by fraudsters to access recipients’ valuable personal ...
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Childcare voucher scheme issues

The Tax-Free Childcare Scheme (TFCS) was launched in April 2017 and opened to all remaining eligible families with children under ...
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Fixtures and fitting on transfer of ownership

The tax treatment of the sale of fixtures and fittings included in the sale or purchase of a commercial building ...
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VAT – goods on sale or return

There are special VAT rules that must be followed when you sell goods on a sale or return basis. Goods ...
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What is overpayment relief?

Overpayment relief was introduced from 1 April 2010 and replaced error or mistake relief for Income Tax, Capital Gains Tax ...
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Gifting share in home

Most gifts made during a person's life are not subject to tax at the time of the gift. These lifetime ...
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Tax free health benefits

There is no requirement for employers to pay tax and National Insurance on certain health benefits covered by tax concessions ...
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32.5% Corporation Tax on overdrawn directors’ loans

HMRC defines a director's loan as money taken from your company (by you or other close family members) that isn’t:a ...
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