April 12, 2017
Please click below for a pdf version of our tax data card containing all the basic tax rates and data.
2018-19 Tax Data card
April 11, 2016
Beware sting in VAT Annual Accounting Scheme
The VAT annual accounting scheme is open to most businesses with a turnover of up to £1.35m per year. The main benefits of the scheme include the requirement to file one VAT return per year. This can significantly reduce the amount of administration ... read more
Give now pay later – what are the settlement rules?
The settlement rules are intended to prevent an individual from gaining a tax advantage by making arrangements that divert his or her income to another person who may be liable at a lower rate of tax or is not liable to Income Tax.
Where a settlor ... read more
Company van use – the tax consequences
There are a number of tax consequences to be aware when employees are provided with company vans and fuel. A company van can be defined as a van made available to an employee by reason of their employment. There is usually nothing to report to HMRC ... read more
CGT base cost uplift on death
Special rules apply to assets when they are passed to a beneficiary after the death of the benefactor. In some cases Inheritance Tax may be due on the transfer. However, there can also be a hidden benefit known as a Capital Gains Tax (CGT) uplift on ... read more
Tax exempt gifts paid out of income
Many taxpayers are aware that there is an annual Inheritance Tax exemption of £3,000 for gifts and this can be carried forward to the following tax year if not used to make a maximum gift of £6,000. You can also give as many gifts of up to £250 per ... read more
Can’t afford to pay your tax bill?
HMRC understands that taxpayers will sometimes experience difficulties with paying their tax bill and stress that taxpayers should make contact with them as soon as they realise that there is a problem. This is good advice as burying your head in the ... read more
New advisory fuel rates published
Advisory fuel rates are intended to reflect actual average fuel costs and are updated quarterly. The rates can be used by employers who reimburse employees for business travel in their company cars or where employees are required to repay the cost of ... read more
New guidance published for employers on setting dress codes and sex discrimination
Following a joint report ("High heels and workplace dress codes") published by the House of Commons Women and Equalities Committee and Petitions Committee in January 2017, the Government Equalities Office has finally published promised new guidance ... read more
Responding to a County Court claim
It is important that any correspondence received from the County Court is dealt with promptly. This should include taking proper legal advice when appropriate.
Usually, a creditor asks the County Court to make a county court judgment (CCJ) against ... read more
When might you be due a tax refund?
HMRC has issued helpful guidance that explains when you might be due a tax refund and how to make a claim.
According to HMRC you may be able to claim a refund if you:
are employed and had too much tax taken from your pay;
have stopped ... read more
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