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17/07/2018 - More...

The government has confirmed plans to introduce a lower rate of the HGV road user levy for lorries that meet the latest Euro VI emissions standards. This measure is intended to incentivize vehicle operators to move towards newer, cleaner vehicles and to reduce emissions from HGVs and improve air quality. Lorries which meet the Euro VI

17/07/2018 - More...

The Finance Bill 2018-19 draft legislation includes a new measure to introduce a points-based penalty system for certain regular (e.g. monthly, quarterly and annual) returns that are filed late. The introduction of a points system was first announced at Autumn Budget 2017 and will operate in conjunction with HMRC's Making Tax Digital

17/07/2018 - More...

The security deposit legislation is to be extended to both Corporation Tax and Construction Industry Scheme (CIS) deductions from April 2019. The security deposit regime allows HMRC to require security from high-risk businesses where there is a serious risk that taxes owed will not be paid. At present HMRC’s security deposit powers only

17/07/2018 - More...

Plans to introduce a new two tiered penalty system for individuals and businesses that do not pay their tax bills on time have been included in the draft Finance Bill 2018-19. The government has said that the new late payment penalty regime will help to ensure that those who pay their tax on time are not disadvantaged by those who do not

17/07/2018 - More...

New draft legislation has been published as part of the draft Finance Bill 2018-19 that aims to change the VAT treatment of vouchers. The legislation will focus on bringing the UK VAT treatment of vouchers in line with that published in the EU directive. Notwithstanding the Brexit negotiations, the UK continues to be a member of the EU

17/07/2018 - More...

The rules for the Corporation Tax treatment of carried forward losses changed from 1 April 2017. The changes increased flexibility to set off carried forward losses against total profits of the same company or another company in a group whilst at the same time introducing new restrictions as to the amount of profits against which carried

17/07/2018 - More...

The Requirement to Correct (RTC) legislation created a new statutory obligation for taxpayers with undeclared UK tax liabilities that involve offshore matters. The RTC applies to any person with undeclared UK Income Tax, Capital Gains Tax and/or Inheritance Tax liability concerning offshore matters or transfers relating to offshore tax

17/07/2018 - More...

P9 tax code notices are used to notify employers of the tax codes to use when calculationg PAYE due from employees' wages and salaries. In a service availability update published on 17 July 2018, HMRC has confirmed that they are aware of an issue with employers failing to receive P9 files for the tax year 2018-19. HMRC has now

15/07/2018 - More...

Public Health England (PHE) and Business in the Community have published a new toolkit to help employers support workers who are affected by domestic abuse. One in four women and one in six men suffer from domestic abuse in their lifetime and domestic abuse apparently costs businesses £1.9 billion every year due to decreased

10/07/2018 - More...

The publication of the draft Finance Bill 2018-19 includes legislation to change the way the rent-a-room relief scheme works. Following last year's Budget, a consultation was launched by HM Treasury to examine the design of the rent-a-room scheme. When the relief was first launched it was intended to be used where one bedroom in a house

10/07/2018 - More...

The draft Finance Bill includes a new measure that will help modernise the tax treatment of employer paid premiums for the provision of death in service life assurance products for their employees. Currently, these premiums are only tax-exempt if the named beneficiary is a member of the employee’s family, or a member of their

10/07/2018 - More...

The Finance Bill 2018-19 draft clauses include new measures that will address two anomalies in the Optional Remuneration Arrangements (OpRA) rules. These measures will: ensure that when a taxable car or van is provided through OpRA, the amount foregone, which is taken into account in working out the amount reportable for tax and

10/07/2018 - More...

The Finance Bill 2018-19 draft legislation was published on 6 July 2018. The Bill which runs to 226 pages (with a further 143 pages of explanatory notes) contains the legislation for many of the tax measures that had previously been announced by the government as well as new initiatives. The publication of the draft Finance Bill is in

10/07/2018 - More...

A new measure to remove the requirement for employers to check receipts for expense claims made by employees using the HMRC benchmark scale rates or overseas scale rates is to be introduced. The benchmark scale rates can be used by employers to reimburse staff for subsistence expenses when they are travelling on business away from their

10/07/2018 - More...

The government is to move forward with plans to charge Corporation Tax to non-UK resident companies with property income. Currently, these companies are chargeable to Income Tax and not UK Corporation Tax. This change is part of the government's aim to ensure that all companies are subject to the same tax treatment and to limit some of

10/07/2018 - More...

Entrepreneurs' Relief applies to the sale of a business, shares in a trading company or an individual’s interest in a trading partnership. Where Entrepreneurs' Relief is available CGT of 10% is payable in place of the standard rate. There are a number of qualifying conditions that must be met in order to qualify for the relief. One of

08/07/2018 - More...

The government’s response to the Home Affairs Select Committee’s report on the delivery of Brexit, published in May 2018, committed to providing further details about the proposed EU Settlement Scheme in the next few weeks. The scheme is the new settled status scheme for EU nationals who are resident in the UK before 31 December 2020. The

03/07/2018 - More...

In a unanimous decision, the Supreme Court has decided that the law preventing opposite sex couples from entering into a civil partnership breaches the European Convention on Human Rights (ECHR). The appellants in this long running case are an opposite sex couple with a conscientious objection to marriage. The crux of this case centred

03/07/2018 - More...

Business Asset Rollover Relief allows taxpayers to delay paying Capital Gains Tax (CGT) on gains when they sell or dispose of certain assets and use all or part of the proceeds to buy new assets. The relief means that the CGT due on the gain of the old asset is postponed. The amount of the gain is effectively rolled over into the cost of

03/07/2018 - More...

The marriage allowance allows couples to share part of their personal tax-free allowance in certain circumstances. The marriage allowance is available to married couples and those in a civil partnership where one partner has an unused personal allowance and their spouse/partner only pays Income Tax at the basic rate. HMRC has published a

03/07/2018 - More...

The Annual Investment Allowance (AIA) provides 100% first year tax relief for qualifying expenditure on plant and machinery. It can be claimed by an individual, partnership or company carrying on a trade, profession or vocation, a UK non-residential property business or a furnished holiday let. Partnerships or trusts with individuals and

03/07/2018 - More...

There are a number of VAT issues to consider if you are selling digital services from the UK to consumers based in other EU countries. Since 1 January 2015, the place of supply rules for these types of service is determined by the location of the customer who receives the service rather than the location of the supplier. Digital services

03/07/2018 - More...

The Bereavement Allowance was a weekly benefit that was payable to certain widows, widowers, or surviving civil partners whose spouse or civil partner died before 6 April 2017. Prior to that date, it was also possible for qualifying applicants to claim the Widowed Parent’s Allowance and Bereavement Payment. The new Bereavement Support

03/07/2018 - More...

HMRC issues guidance that covers what you need to do if you stopped work. The guidance covers the main reasons that you might have stopped work, for example, being made redundant or leaving your job. If you have been made redundant then you may have overpaid tax as a result of your redundancy payment. HMRC may in some cases refund you

 

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