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10 July 2019

Whilst there is usually no tax relief for ordinary commuting - home to work - there are a number of exceptions. The term 'ordinary commuting' is defined to mean travel between a permanent workplace and home, or any other place that is not a workplace. Case law has established the principle that travelling between your home and a permanent workplace is not a travel expense related to the...

10 July 2019

First Year Allowances (FYA’s) are available for expenditure on new unused electric vehicles and other cars within the threshold for low CO2 emissions. Businesses can claim FYA of 100% in the year they purchase qualifying low emissions or electrically propelled cars. These measures were put in place to help encourage the use of low emission and zero emission vehicles.

The FYA’s for...

10 July 2019

For most fully taxable businesses, VAT can be reclaimed on goods and services used in the business. This means that businesses must consider where there is any personal or private use of goods or services purchased for the business as the business can only reclaim the business proportion of the VAT.

For example, VAT is recoverable on all the costs of mobile phones provided to employees...

10 July 2019

The First-Tier Tribunal (FTT), in the case of Villar v Revenue and Customs examined whether the disposal of goodwill was capital or income in nature. The taxpayer in this case was a renowned orthopaedic surgeon specialising in hip arthroscopic procedures. The taxpayer sold his business in return for a payment of £1m, this payment was treated as capital in nature and a claim was made for...

10 July 2019

The Optional Remuneration Arrangements (OpRA) legislation was introduced with effect from 6 April 2017. The legislation counters the tax and NIC advantages of benefits where an employee gives up the right to an amount of earnings in return for a benefit. This includes flexible benefit packages with a cash option, cash allowances and salary sacrifice.

The taxable value is now the higher...

10 July 2019

Under qualifying circumstances, Corporation Tax (CT) relief is available where your company makes a trading loss. The trading loss can be used by offsetting the loss against other gains or profits of your business in the same or previous accounting period. The loss can also be set against future qualifying trading income.

However, there are restrictions on ‘loss-buying’. This describes...

10 July 2019

It was announced as part of the Autumn Budget 2018 measures that access to the Employment Allowance was to be restricted. From 6 April 2020, the £3,000 NIC Employment Allowance will only be available to employers with employer NIC liabilities of under £100,000 in the previous tax year. Connected employers will have their contributions aggregated for this purpose.

The draft legislation...

09 July 2019

The Information Commissioner's Office (ICO) has published new guidance on the use of cookies and similar technologies, as well as an associated blog. 

The guidance looks at cookies and similar technologies in detail and it is relevant to any organisations operating online services such as websites or mobile apps. It covers:

  • What cookies and similar technologies are
  • ...
01 July 2019

If you make Self-Assessment payments on account, you will no doubt be aware that the second instalment for 2018-19 is due on 31 July 2019. The amount due for payment is usually the same as the first payment on account made on 31 January 2019.

These payments are based on 50% of your previous year’s net Income Tax liability. If your taxable profits have increased there is no requirement...

01 July 2019

As the school holidays fast approach, many parents face having to organise extra school holiday childcare over the summer months.

HMRC is reminding parents that the Tax-Free Childcare (TFC) scheme can help if you have children aged 0-11 years old. The TFC scheme helps support working families with their childcare costs and can be used to pay for regulated holiday clubs during the school...

01 July 2019

The security deposit legislation was extended to both Corporation Tax and Construction Industry Scheme (CIS) deductions from April 2019. The security deposit regime allows HMRC to obtain security from high-risk businesses for the protection of revenue where there is a serious risk that taxes owed will not be paid.

HMRC’s security deposit powers previously applied to VAT, PAYE and...

01 July 2019

You can use the Digital Disclosure Service (DDS), if you need to make a voluntary disclosure of income or other taxable events that have not previously been reported to HMRC. 

Other current HMRC campaigns that facilitate disclosure by taxpayers, include the Card Transaction Programme - a disclosure opportunity for businesses that accept card payments and have not paid the right amount...

01 July 2019

If your personal details change, you may be required to notify HMRC as this can affect your entitlement to certain tax breaks and or benefits.

For example, you need to tell HMRC if:

  • you get married or form a civil partnership
  • you divorce, separate or stop living with your husband, wife or partner

You can tell HMRC online if you are paid a salary or...

01 July 2019

The National Cyber Security Centre (NCSC) has published guidance to help small to medium sized organisations prepare their response to, and plan their recovery from, a cyber incident. 

The “Small Business Guide: Response & Recovery” has been produced by the NCSC in response to questions raised by SMEs following the earlier publication of its “Cyber Security: Small Business Guide” in...

01 July 2019

Business rates are a tax on non-domestic premises, including most commercial properties such as shops, offices, pubs, warehouses and factories. The money raised through business rates is used to help fund local services like the police, fire and rescue services.

Business rates are generally calculated by multiplying the rateable value of commercial premises by the business rates...

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