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19 December 2018

The Annual Investment Allowance (AIA) was permanently set at £200,000 for all qualifying expenditure on or after 1 January 2016. However, in the Budget earlier this year, the Chancellor announced a temporary increase in the allowance to £1 million for a 2-year period from 1 January 2019 to 31 December 2020.


The AIA allows for 100% first year tax relief for qualifying...

19 December 2018

Employees that are pregnant are eligible to take up to 26 weeks of statutory maternity leave (known as ordinary maternity leave) plus an additional 26 weeks (known as additional maternity leave). This means that an employee can take up to a full year off once they give their employers the correct notice. All women employees are entitled to both classes of maternity leave from day one of...

19 December 2018

There is no requirement to report certain routine expenses to HMRC. The types of expenses and benefits covered are referred to as exemptions and have replaced dispensations which no longer apply.


The business expenses and benefits that do not need to be reported (since April 2016) include: reimbursed costs to employees covering business travel, phone bills, business...

19 December 2018

HMRC has published what appears to be the final online quarterly edition of VAT notes which includes a summary of recent changes to the VAT rules. HRMC has confirmed that from January 2019 'VAT Notes' will no longer be published online as VAT updates are published in real time on GOV.UK. The small number of businesses that are exempt from online filing will continue to receive a printed...

18 December 2018

Following the publication of its technical notice in September 2018 on “Data protection if there’s no Brexit deal”, the government has now published an online summary covering what amendments would be required to UK data protection law in the event of a no deal Brexit.


The European Union (Withdrawal) Act 2018 (EUWA) will retain the GDPR in UK law, but the government will...

18 December 2018

1 January 2019 - Due date for Corporation Tax due for the year ended 31 March 2018.


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


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


19 January 2019 - CIS...

12 December 2018

A new Revenue and Customs Brief (6-2018) entitled VAT exemption for all domestic service charges has recently been published by HMRC. The brief explains changes to the Extra Statutory Concession (ESC) 3.18 VAT: exemption for all domestic service charges may be applied. The ESC was introduced in February 1994 to enable the same VAT treatment on mandatory service charges to a freehold...

12 December 2018

The introduction of Making Tax Digital (MTD) for VAT is fast approaching.


From April 2019, some 1 million businesses with a turnover above the VAT threshold (currently £85,000) will have to keep their records digitally (for VAT purposes only), and provide their VAT return information to HMRC through MTD compatible software. The deadlines for sending VAT returns and making...

12 December 2018

For high earning taxpayers, the personal allowance is gradually reduced by £1 for every £2 of adjusted net income that exceeds £100,000 irrespective of age. Adjusted net income is total taxable income before any personal allowances, less certain tax reliefs
such as trading losses and certain charitable donations and pension contributions.

This means that for the current tax year...

12 December 2018

There are three main special VAT schemes available to small businesses. These are the flat rate scheme, the annual accounting scheme, and the cash accounting scheme. The turnover levels for joining and leaving these schemes vary.

The flat rate scheme is open to businesses that expect their annual taxable turnover in the next 12 months to be no more than £150,000, excluding VAT. However...

12 December 2018

In general, there is no Capital Gains Tax (CGT) on a property which has been used as the main family residence. This relief from CGT is commonly known as 'private residence relief'. However, where all or part of the home has been rented out, the entitlement
to relief may be affected. Home owners that let all or part of their house may not benefit from the full private residence relief...

12 December 2018

There is a £1,000 tax allowances for miscellaneous trading income that has been available to taxpayers since April 2017. This is known as the trading allowance. The income raised from these kinds of ventures is usually supplemental to a taxpayer’s main income,
but this is not always the case.

The exemption from tax applies to taxpayers who have trading income of up to £1,000 from...

11 December 2018

The government has published a policy paper on what might happen to EU citizens in the UK and UK nationals in the EU, in the event of a “no deal” Brexit.

The government has confirmed that those EU citizens and their family members who are resident in the UK by 29 March 2019 will have their rights protected, i.e. they will be able to stay and will continue to be able to work, study and...

05 December 2018

In the 2016 Budget, the government announced that termination payments over £30,000 would be subject to employer National Insurance Contributions (NICs) from April 2018. In the 2017 Budget, the government further announced that this change would be delayed
for a year with the changes set to come into force from April 2019. A further delay in the implementation of the new rules has now...

05 December 2018

The Employment Allowance of £3,000 per year is available to most businesses and charities to be offset against their employers Class 1 NIC bill. The allowance can be claimed as part of the normal payroll process.

An employer can claim less than the maximum if this will cover their total Class 1 NIC bill. Eligible employers that have not yet done so can still claim for the current tax...

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