Tax Tips and News

How to claim tax relief for employment expenses

May 3, 2022 | Tax Planning

If you are an employee and you personally incur expenses in carrying out your job, you may be able to claim tax relief for those expenses. Relief is only available for expenses that you must incur,...

Avoiding an investigation: How does risk assessment work – what do HMRC look for?

May 3, 2022 | HMRC, Tax Planning

Last year apart, the number of tax enquiries is on the increase; the reason is not because more taxpayers are seeking to defraud the tax system but because advances in digital technology and data...

Stamp duty land tax refunds

May 3, 2022 | HMRC, Tax Planning

The additional stamp duty land tax (SDLT) rate of 3% is payable by purchasers of residential properties costing £40,000 or more and if all of the following conditions apply: it will not be the only...

Distributions on cessation of a company

May 3, 2022 | News, Tax Planning

When a company closes down, it may have accumulated monies or assets that need to be distributed to shareholders. If the asset is in the form of cash then any distributions would typically be as...

What counts as a garden for private residence relief?

Apr 5, 2022 | Tax Planning

Private residence relief prevents a tax charge from arising if there is a capital gain when a person sells a property that has been their only or main home throughout the period that they have owned...

MTD for VAT for all

Apr 4, 2022 | HMRC

Under Making Tax Digital (MTD) for VAT, VAT-registered traders must keep electronic records and file their VAT returns electronically using software that is compatible with MTD for VAT. Prior to 1...

Struggling to pay tax – What should you do?

Jan 19, 2022 | HMRC, Tax Planning

The January self-assessment payment deadline is not well timed, falling as it does in a month when people may be already struggling to pay their Christmas credit card bills. However unpalatable the...

Payments on account – Who needs to pay and how are they calculated?

Dec 15, 2021 | HMRC, Tax Planning

The self-assessment tax return for 2020/21 must be filed online by midnight on 31 January 2022 if a late filing penalty is to be avoided. The exception to this is where a notice to file a return for...