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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...

09 January 2019

HM Treasury has confirmed that the £1 coin will be going global. This announcement means that the UK’s Overseas Territories and Crown Dependencies will be able to design and mint their own versions of the 12-sided £1 coin replacing the older coins. The coins are expected to feature images celebrating the heritage of these territories, with their history and culture pictured on the...

09 January 2019

The Furnished Holiday Let (FHL) rules, allow holiday lettings of properties that meet certain conditions to be treated as a trade for some specific tax purposes.


In order to qualify as a furnished holiday letting, the following criteria need to be met:



  • The property must be let on a commercial basis with a view to the realisation of profits. Second...
09 January 2019

A new one-stop service to register a company and register for tax at the same time has been used by more than 200,000 businesses since it was introduced. The introduction of the Streamlined Company Registration Service was announced as part of the Small Business, Enterprise and Employment Act 2015 to help reduce administrative burdens and came into effect last year. However, there...

09 January 2019

There are special VAT rules that allow businesses to standard rate the supply of most non-residential and commercial land and buildings (known as the option to tax). This means that subsequent supplies by the person making the option to tax will be subject to VAT at the standard rate.


The ability to convert the treatment of VAT exempt land and buildings to taxable can have...

09 January 2019

The cash basis scheme helps sole traders and other unincorporated businesses benefit from a simpler way of managing their financial affairs. The scheme was extended to landlords from April 2017. The scheme is not open to limited companies and limited liability partnerships. The entry threshold for the cash basis scheme is £150,000 and you can stay in the scheme until your business...

09 January 2019

HMRC has issued an updated version of their online guidance on Genuine HMRC contact and recognising phishing emails and texts. The guidance provides a current list of genuine messages from HMRC. This includes: email messages, text messages and telephone contacts from HMRC.


The latest updates on the list include information on a research project being carried out to...

02 January 2019

There are special customs requirements for commercial goods or samples which are imported or exported by passengers in their accompanied baggage (hand carried). This is known as Merchandise In Baggage or MIB.


MIB goods include the following:



  • goods acquired for company use

  • goods for sale

  • spare parts

  • trade...
02 January 2019

HMRC offers an online service to check a National Insurance record. In order to use the service you will need to have a Government Gateway account. If you don't have an account, you can apply to set one up online.


By signing in to the 'Check your National Insurance record' service you will also activate your personal tax account if you haven’t already done so. The personal...

02 January 2019

Capital Gains Tax (CGT) rollover relief is a valuable relief that allows for a delay in the payment of CGT on gains when you sell or dispose of certain assets and use all or part of the proceeds to buy new assets. The relief means that the tax on the gain of the old asset is postponed. The amount of the gain is effectively rolled over into the cost of the new asset and any CGT liability...

02 January 2019

Following the recent publication of its “Good Work Plan”, the government has now laid before Parliament three statutory instruments to implement certain aspects of that Plan.


The Employment Rights (Employment Particulars and Paid Annual Leave) (Amendment) Regulations 2018 and the draft Employment Rights (Miscellaneous Amendments) Regulations 2019 will both come into force...

02 January 2019

The government’s recently published “Good Work Plan” included a commitment to establish a naming and shaming scheme for those employers who fail to pay employment tribunal awards. Immediately following publication of the Good Work Plan, the government introduced the scheme and published guidance on how it operates. The names of employers, together with the amount of the employment tribunal...

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