Advance warning of tax changes

June 22, 2019 No comments yet

There are a number of significant changes coming into effect from 6 April 2020 with regard to residential property, as follows:- The final period exemption The final period exemption which extends private residence relief for capital gains tax will be reduced from 18 months to 9 months. Please note that the special rules allowing 36 […]

Failure to prevent Tax Evasion

June 22, 2019 No comments yet

HMRC’s powers to investigate and prosecute businesses for tax evasion has been bolstered by the ‘Criminal Finance Act’. Businesses are now liable for the action of any employees or contractors, under the ‘failure to prevent’ rules which were brought in last year. 

HMRC TARGET RESTAURANT SECTOR

May 22, 2019 No comments yet

Amidst increasing financial pressure in the restaurant industry #HMRC is looking towards the sector for potential tax evasion. HMRC has a range of taskforces focused on investigating the industry and a keen interest in lost tax through tips, which can be difficult to monitor.

Budget Booklet 2018

October 30, 2018 No comments yet

Chancellor Philip Hammond delivered the Autumn Budget to Parliament yesterday just five months before Britain is due to leave the European Union. He stated that the era of austerity is “finally coming to an end” but that the focus is continuing to reduce debt and borrowing. The key announcements were as follows:- An earlier than […]

Making Tax Digital (MTD)

August 25, 2018 No comments yet

Further to our previous Client Memo informing you of the impending Making Tax Digital (MTD) we write to provide more detailed information as far as that is currently available. MTD for businesses HMRC’s vision to digitalise the UK tax system has commenced. Businesses and landlords will be required to use commercial software to maintain their […]

GDPR & MTD

March 7, 2018 No comments yet

Hope everyone has managed to cope with the Arctic chill and the thaw out that’s been causing havoc in certain parts of the UK.   So it may be an opportune moment to throw a curve ball or two into the mix and send a reminder about the advent of; General Data Protection Regulations (GDPR) […]

Budget Booklet Autumn 2017

November 23, 2017 No comments yet

Chancellor Philip Hammond delivered the first Autumn Budget to Parliament yesterday. He stated that the UK has entered a “critical phase” in Brexit negotiations and that £3bn had been set aside for Brexit preparations. Housing and technology were a key focus of the speech. The key announcements were as follows:- An increase in the personal […]

Budget 2017

March 9, 2017 No comments yet

Chancellor Philip Hammond delivered the last Spring Budget to Parliament yesterday. He stated that this Budget is working towards a “stronger, fairer and better Britain” and to prepare Britain for a “global future”. The key announcements were as follows:- An increase in the personal allowance for income tax to £11,500 for 2017/18, increasing to £12,500 […]

Budget 2016

March 17, 2016 No comments yet

Chancellor George Osbourne delivered his 2016 Budget to Parliament on Wednesday 16th March. He stated that “this is a Budget for the long term”, but that the “storm clouds are gathering”. The key announcements were as follows:- An increase in the personal allowance for income tax to £11,500 for 2017/18 Higher rate threshold for income […]

Second Budget 2015

July 9, 2015 No comments yet

Chancellor George Osbourne delivered the first full “Tory” Budget in nearly 20 years. Heralding the Second Budget as a “big Budget for a country with big ambitions” he announced a series of measures affecting business, tax and welfare. The key announcements were as follows:- A new Inheritance Tax nil-rate band for family homes, phased in […]