Blog

Seven Key Tax Planning Points for SMEs To Watch

29th November 23

It's important for business owners to understand the intricacies of tax planning for their small businesses ...

Rising Interest Rates Provide A Boost For Savers

22nd November 23

As interest rates continue to rise in the UK with strategic planning savers can benefit without paying more tax ...

Deadline for DIY Housebuilders VAT Scheme Extended

15th November 23

As someone in the process of building your own home, you may be familiar with the VAT DIY Housebuilders Scheme ...

How UK Landlords Are Enjoying Record-Breaking Income

8th November 23

The UK property market has always been a popular investment option, and it's not hard to see why ...

Beware Of Tax Imposters Offering Rebates

1st November 23

Between tracking down those lost receipts and ensuring we've accounted for every penny, there's also the threat of scams ...

COVID-19 And The Impending Surge in Director Bans

25th October 23

The COVID-19 pandemic, while primarily a health crisis, spiralled into an economic challenge of unparalleled magnitude ...

An Overview Of The Benefits Of EIS And SEIS

18th October 23

Even though the economy seems to be in a bit of a state, now is a great time to set up a new company in the UK ...

Are You Due A National Insurance Refund On Car Allowances?

11th October 23

The topic of car allowances has garnered significant attention, especially in the realm of employment tax ...

Navigating UK Inheritance Tax For Overseas Investors

4th October 23

With its robust legal framework for property transactions, the UK continues to be a magnet for overseas investors ...

VAT For The Rent To Serviced Accommodation Business Model

27th September 23

In the ever-evolving world of VAT, the recent Sonder Europe Ltd vs HMRC case has become a pivotal moment ...

HMRC: Renovating a Home Does Not Make It Uninhabitable

20th September 23

A property developer found himself embroiled in a stamp duty land tax (SDLT) dispute with HMRC ...

Limited Company Ownership in the Buy-to-Let Market

13th September 23

The property rental landscape has seen a monumental shift as more landlords lean towards limited company structures ...

Landlords Rethink Property Investments Amid Tax Changes

6th September 23

A recent study indicates a notable uptick in the number of landlords opting to sell their properties ...

The Rise In Inheritance Tax Penalties

30th August 23

As the cost of living rises, the tax burden weighs on the minds of many. Inheritance Tax is now a cause for concern ...

HMRC Wins Appeal Over Capital Gains Tax Discrepancy

23rd August 23

John and Janet Beesley, a married couple, have lost their appeal against a significant capital gains tax demand from HMRC ...

Paying For Employee Eye Tests

16th August 23

There has been a lot of discussion about employers offering eye tests and corrective glasses to employees ...

Tax Debt Is Rising As Small Businesses Struggle To Pay

9th August 23

HMRC unveiled figures today showing an increase in unpaid tax, with the total tax debt reaching £44 billion ...

The Normal Expenditure Out Of Income Exemption

2nd August 23

The Normal Expenditure Out Of Income Exemption offers a valuable saving on Inheritance Tax ...

HMRC To Gather More Information From Taxpayers

26th July 23

HMRC has announced new reporting requirements for owner-managed companies and self-employed traders ...

Guide To Tax-Efficient School Fee Planning In The UK

19th July 23

Sending your child to a private school is a significant investment, and it needs proper planning to be tax-efficient ...

Tax Issues For Estates In Administration

12th July 23

When addressing tax issues for the estate of a deceased individual, most people think of Inheritance Tax ...

HMRC Nudge Letters: Now It's The Turn Of PSCs

5th July 23

HMRC's educational campaign is now targeting Persons with Significant Control. Nudge letters are being sent ...

What Are Some VAT Traps For Holiday Lets?

28th June 23

An apparently innocuous idea, like temporarily renting out a holiday let to visitors, can fall into a VAT trap ...

HMRC Writing To Taxpayers Named In Pandora Papers

21st June 23

The Pandora Papers, a leak of 11.9 million documents has sent shockwaves through the world of finance ...

HMRC Increases Interest Rate

14th June 23

The Bank of England’s Monetary Policy Committee convened on the 10th of May 2023 to raise interest rates again ...

IR35 Blunders Lands UKRI with £36M Tax Bill

7th June 23

UK Research and Innovation has been hit with a hefty £36m tax bill by HM Revenue and Customs ...

Revamping The Construction Industry Scheme

31st May 23

In a refreshing move, HMRC is setting its sights on reengineering the Construction Industry Scheme ...

VAT On Holiday Lets And Serviced Accommodation

24th May 23

With many businesses, once your income heads above andpound;85,000 you have to register for and pay VAT every quarter ...

Government Reviewing Dodgy Rent-To-Rent Market

17th May 23

In a significant move, the UK Government has pledged to clamp down on unscrupulous rent-to-rent operators ...

Charitable Giving: An Effective Strategy for Tax Reduction

10th May 23

In the realm of tax reduction, charitable giving can play a key role. There are three primary methods you can use ...

P11D: Focus On Staff Entertaining

3rd May 23

Accountants are noticing an increasing number of enquiries from HMRC about the amounts spent on entertaining staff ...

Fraudulent HMRC Legal Claim Calls Are Still Common

26th April 23

Despite continued efforts to combat telephone scams, fraudulent HMRC legal claim calls are still common ...

New Holiday Let Registration And Planning Scheme

19th April 23

The Government is taking steps to address the impact of short-term holiday lets on the housing market ...

ERS: What Are Employment Related Securities?

12th April 23

Employment-Related Securities (ERS) are a type of financial instrument that can have an impact on your limited company ...

Evading Tax Penalties on Excessive Director's Loan Accounts

5th April 23

To manage the financial affairs of a company, directors may need to borrow funds from their own company ...

SDLT: Potential Changes Following HMRC Consultation

22nd March 23

The Budget didn't include any SDLT announcements, but I wanted to take a look at some potential changes ...

ATED: Annual Tax On Enveloped Dwellings Deadline

15th March 23

Are you due to submit your Annual Tax on Enveloped Dwellings (ATED) soon? You may need to even with no tax due ...

Gaps In Your National Insurance Records?

8th March 23

If you have gaps in your National Insurance, you could make up deficits by paying voluntary contributions ...

IHT: Tax Considerations When Making Gifts To Grandchildren

1st March 23

Making gifts to grandchildren can be a great way to reduce Inheritance Tax (IHT) and give grandchildren a helping hand ...

Why Should You Use A Property Tax Advisor?

22nd February 23

A question I get asked is why people should use a property tax advisor rather than their own accountant ...

Thousands Miss Out On Tax Free Childcare

15th February 23

The Government is offering up to £2,000 per year per child towards tax free childcare costs but not many use it ...

End Of Year Tax Planning Checklist

8th February 23

As we approach the end of the current tax year, it's worth giving some consideration to end of year tax planning ...

Should You Set Up A Trust Or Family Investment Company?

1st February 23

If you're estate planning right now, you could be considering a Family Investment Company over a Family Trust ...

HMRC Sends Nudge Letters To Gig-Economy Workers

25th January 23

HMRC are increasing their focus on online sellers, gig economy workers and influencers for potential unpaid taxes ...

Do You Need To Make A Voluntary Disclosure To HMRC?

18th January 23

With the introduction of new computer systems, it is increasingly difficult to keep things hidden from HMRC ...

Should Inheritance Tax And Income Tax Be Paid On Pensions On Death?

11th January 23

When someone dies, pension pots should be included in the value of their estate for the purposes of inheritance tax ...

Practical Implications Of The Class 2 NIC Changes

4th January 23

Changes are in place to Class 2 National Insurance for the self-employed with lower profits ...

Navigating Company Car Taxes: Alternatives to Going Electric

2nd January 23

As the tax and NI costs of your fossil-fuel-powered company car rise, it's tempting to opt for an electric vehicle ...

Capital Gains Tax: Positive Changes On Separation And Divorce

28th December 22

Capital Gains Tax has always been complicated, but some positive changes are happening in April 2023 ...

HMRC Delays MTD For ITSA

21st December 22

MTD has been the key driver behind HMRC in the last few years. Digital record keeping is the future ...

Independent Tax Consultants