1. Furnished Holiday Lets, Lockdown and Tax

    There are certain letting conditions that must be met for a letting business to qualify as a Furnished Holiday Let (FHL). These are important as FHL businesses qualify for a number of tax allowances and […]

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  2. Important notice for those intending to sell residential property after 6 April 2020

    Where an individual sells or gifts a UK residential property that completes after 6 April 2020 and that transfer results in a taxable gain, a new requirement is being introduced requiring that within 30 days […]

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  3. Off-Payroll Working Rules Going Ahead

    • 16 Aug 2019
    • By Philip Holdsworth

    The draft Finance Bill clauses issued for consultation on 11 July include legislation to extend the “off-payroll” working rules to the private sector from 6 April 2020. These changes will have significant implications for workers […]

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  4. A Staff Summer Party Can Be a Tax-Free Benefit

    • 02 Jul 2019
    • By Philip Holdsworth

    Your organisation may have an annual Christmas party for staff, but the tax rules also allow staff parties at other times of the year which are a tax-free benefit if certain conditions are satisfied. The […]

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  5. DON’T BE LATE IN PAYING YOUR PERSONAL TAX BILL

    • 25 Jan 2019
    • By Philip Holdsworth

    Individual’s 2017/18 income tax, CGT, class 2 and 4 NIC liabilities should be paid by 31 January 2019. Note that if the balance is still unpaid at the end of February 2019 a 5% surcharge penalty […]

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  6. Christmas Is The Time For Giving

    • 10 Dec 2018
    • By Philip Holdsworth

    Those thinking about making gifts at Christmas should take advantage of the various inheritance tax (IHT) exemptions and reliefs available to them. Note that certain gifts can also have capital gains tax (CGT) implications. THE […]

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  7. Selling Your Home – Private Residence Relief Slashed

    • 27 Nov 2018
    • By David O’Donnell

    In two stealthy moves, the Chancellor used the 2018 Budget to raise some extra capital gains tax from certain individuals when they sell their home. Could this include you? Selling tax free As you probably […]

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  8. Penalties for Tax Return Errors Increase

    • 18 Oct 2018
    • By Philip Holdsworth

    HMRC has stepped up their hunt for extra revenue by increasing the number of penalties imposed on taxpayers for ‘deliberate’ errors on tax returns by 46% in the last 12 months up to 6,125 in […]

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  9. HMRC – Tax Free Childcare

    • 05 Oct 2018
    • By David O’Donnell

    Problems with HMRC’s new Tax-Free Childcare continue to crop up. You’re thinking of using the scheme, but you’re not sure whether it will leave you better off. How should you decide?  After long delays Tax-Free […]

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  10. P11D Deadline Approaching

    The forms P11D which report details of benefits and some expenses provided to employees and directors for the year ended 5 April 2018, are due for submission to HMRC by 6 July 2018. The process […]

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