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23 January 2019

Most gifts made during a person's life are not subject to tax at the time of the gift. These lifetime transfers are known as 'potentially exempt transfers' or 'PETs'. These gifts or transfers achieve their potential of becoming exempt if the taxpayer survives for more than seven years after making the gift. If the taxpayer dies within 3 years of making the gift, then the Inheritance Tax...

23 January 2019

Two changes to the way Private Residence Relief works are due to come into effect from April 2020. These changes could reduce the amount of CGT relief available on the sale of a private residence. The changes are:



  1. Home owners that let all or part of their house may not benefit from the full Private Residence Relief, but can benefit from letting relief of up to £40...
23 January 2019

As a general rule, there is no Capital Gains Tax (CGT) on a property which has been used wholly as a main family residence. This relief from CGT is commonly known as Private Residence Relief. Conversely, an investment property that has never been used as a main residence will not qualify.


It is not uncommon for taxpayers to own more than one home, and there are a number of...

23 January 2019

The Welsh Government has confirmed that the proposed Welsh Government Budget has been ratified and that the new Welsh rates of Income Tax (WRIT) will be set at 10p for 2019-20. This means that the rates of Income Tax paid by Welsh taxpayers will continue to be the same as those paid by English and Northern Irish taxpayers when the WRIT is introduced.


The WRIT will be...

22 January 2019

The draft Automatic Enrolment (Earnings Trigger and Qualifying Earnings Band) Order 2019 has now been published. As expected, it freezes the earnings trigger, which determines when an eligible worker is entitled to be automatically enrolled into a qualifying workplace pension scheme, at £10,000 from 6 April 2019. It also continues to align the qualifying earnings band with National...

22 January 2019

The following statutory payment rates are confirmed:


The standard weekly rates of Statutory Adoption Pay (SAP), Statutory Paternity Pay (SPP) and Statutory Shared Parental Pay (ShPP) will increase from £145.18 to £148.68 from 1 April 2019. The weekly rate of Statutory Sick Pay (SSP) will increase from £92.05 to £94.25 from 6 April 2019 and the standard weekly rate of...

22 January 2019

The Prime Minister has announced in a speech to the House of Commons that the £65 fee for applications made by EU citizens under the EU Settlement Scheme is to be waived. The scheme is due to be rolled out in full on 30 March 2019 and at that stage there will be no fee charged. Currently, the scheme is in a public pilot test phase (following two private test phases) and the Prime Minister has...

22 January 2019

1 February 2019 - Due date for Corporation Tax payable for the year ended 30 April 2018.


19 February 2019 - PAYE and NIC deductions due for month ended 5 February 2019. (If you pay your tax electronically the due date is 22 February 2019)


19 February 2019 - Filing deadline for the CIS300 monthly return for the month ended 5 February 2019.


19 February...

16 January 2019

You can use the Annual Investment Allowance (AIA) to claim a very generous 100% first year tax relief for qualifying expenditure on plant and machinery. The allowance is available for most assets purchased by a business but does not apply to cars.


The AIA was set at £200,000 per calendar year for all qualifying expenditure on or after 1 January 2016. However, there is a new...

16 January 2019

Taxpayers are usually required to pay their Income Tax liabilities in three instalments each year. The first two payments are due on:



  • 31 January during the tax year e.g. for 2018-19 the first payment on account is due on 31 January 2019.

  • 31 July following the tax year e.g. for 2018-19 the second payment on account is due on 31 July 2019.
  • ...
16 January 2019

If you or your partner are a low earner or not working, then you may be eligible for the Marriage Allowance (MA). The MA allows lower earning couples to share part of their personal tax-free allowance. The MA is available to married couples and those in a civil partnership where a spouse or civil partner doesn’t pay tax or who has an income below the personal allowance (for 2018-19 this...

16 January 2019

Donations to charity over the course of a tax year can add up and taxpayers must ensure they keep a proper record of all donations to backup tax return entries. Donations that are made through the Gift Aid scheme allow for the recipient charity to claim 25p worth of tax relief on every pound donated. Higher rate and additional rate taxpayers are eligible to claim relief on the...

16 January 2019

Most age related tax allowances have been phased out. However, the Married Couple's Allowance (MCA) is available to elderly married couples or those in a civil partnership where at least one member of the couple were born before 6 April 1935. The allowance provides for tax relief by deducting 10% of the allowance from the amount of tax due on taxable income.


The MCA can...

16 January 2019

The P85 form should be completed by individuals or their agents to advise HMRC that have left the UK to live or are going to work abroad for at least one full tax year.  


The completion of the P85 form will ensure that an individual leaving the UK can claim any tax refund they are entitled to and will also help HMRC decide how an individual should be treated for the...

09 January 2019

The government has confirmed that they are to examine a number of different approaches to help encourage the self-employed to save for their retirement. The success of automatic enrolment for pension savings for the employed has helped highlight that pension savings for the self-employed are lagging behind those achieved for the employed. In fact, government research has shown that only...

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