Blog

Borderline benefits

Now that Scotland and Wales have their very own stamp duty taxes buying a house in the border areas between Wales and England, and Scotland and England, raise some interesting planning options.

Consider Llanymynech, a village that straddles the border between Powys (Wales) and Shropshire (England). The amount of stamp duty payable on an identically priced...

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Broadband fibre gets rates boost

The Telecommunications Infrastructure Act 2018 paves the way for full-fibre broadband and future 5G communications by enabling 100% business rates relief for operators who install new fibre on their networks. In other words, the Act incentivises operators to invest in the broadband network.

Apparently, the secondary legislation has been laid, firing the starting gun on the...

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Common-sense prevails

Imagine that you have no interest in computers or computing. That Facebook and Twitter sound like racehorses running in the 2.30 at Haydock Park. Further, imagine that the thought of having to deal with computers pushed you into a severe anxiety state.

Ms Naylor, the Company Secretary of a flooring company, fitted this profile. For many...

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Tax Diary April/May 2018

1 April 2018 - Due date for corporation tax due for the year ended 30 June 2017.

19 April 2018 - PAYE and NIC deductions due for month ended 5 April 2018. (If you pay your tax electronically the due date is 22 April 2018)

19 April 2018 - Filing deadline for the CIS300 monthly return for...

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How long should you keep your records?

If you are self-employed, and obliged to submit a self-assessment tax return, you must keep your tax records for at least five years after the 31 January submission deadline of the relevant tax year. For example, if you sent your 2017-18 tax return online by 31 January 2019, you must keep your records until at...

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Black cabs urged to go green

Britain’s black cabs now qualify for an incentive to go green as the new tax exemption for electric taxis comes into force this month. The exemption, worth £1,550, will apply to new cabs purchased from April 2018 onwards, and follows the Autumn Budget announcement that zero emission taxis worth over £40,000 will no longer have...

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Offshore tax evasion

From 1 October 2018, HMRC will be gaining access to information from tax havens that will enable it to identify UK citizens with undisclosed offshore assets, and by inference, undisclosed UK income and taxable gains. Why does this matter?

It matters because HMRC has introduced new legislation called the Requirement to Correct which will dramatically increase...

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Spring Statement

The Chancellor, Philip Hammond, was keen to promote the positive aspects of the UK’s economic performance when he stood to present his Spring Statement on 13 March.

  • Employment and manufacturing growth rising,
  • Inflation and debt falling.

The speech was also peppered with the usual political gambits to boost his party at the expense of the opposition.

The one practical...

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2m workers to receive a pay rise from 1 April 2018

And no, this is no April fool…

Over 2 million people will get a pay rise from 1 April 2018 thanks to an above-inflation rise in the National Living Wage (NLW).

The National Living Wage will go up by 4.4%, from £7.50 to £7.83, meaning a full-time minimum wage worker will be over £2,000 better off since...

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HMRC deals with online VAT abuse

Fulfilment houses are being drawn into government endeavours to deal with the loss of revenue by the activities of traders based outside the EU. From 1 April 2019, approved fulfilment businesses will be required to complete due diligence checks on their overseas customers and maintain records about the goods they store.

HMRC have announced that if...

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