Tax News

News Archive

• 2024
  • May
    • Multiple dwellings relief – the end is nigh
    • Advertising or promotion versus entertainment or hospitality – which gives a tax deduction?
    • Employer compliance – don’t miss filing deadlines for provisions of benefits-in-kind and shares
    • Child benefit – is it time to reclaim?
  • April
    • Companies owning residential property – reporting deadline approaches, do you need to take action?
    • Will you receive a £10 daily penalty from HMRC?
    • Investigate before you invest – Due Diligence in detail
  • March
    • Happy new tax year!
    • Meet The Team – Kieran Watson
    • Furnished holiday lets – another change for landlords
    • Commercial property – how do you hold yours?
    • Quarterly instalments of corporate tax – are you ready?
    • IMPORTANT – Research and development – is now the time to notify HMRC?
    • Clive Owen LLP responds to the Economic Crime and Corporate Transparency Act 2023: navigating new Companies House regulations
    • North East Shadow MPC – March 2024
    • Accounting shift for sole traders and partnerships announced by HMRC ahead of ‘Making Tax Digital’
  • February
    • IMPORTANT – HMRC “hand brake turn” on Double Cab Pick Ups.
    • Commercial vehicle tax updates
    • HMRC’s latest area of interest – undeclared dividend income
    • How Artificial Intelligence is assessing the risk of tax evasion by businesses
    • Payrolling benefits in kind
    • Property expenditure – revenue or capital?
    • Capital gains tax reporting of residential property disposals – reminder
    • The Self Assessment deadline has passed – what happens now you’ve missed it?
    • Darlington co-author of a major education report highlights challenges and opportunities within the sector
    • National Apprenticeship Week 2024
  • January
    • Yorkshire Shadow MPC – January 2024
    • Clive Owen LLP: celebrating continued growth and community engagement in Durham
    • Meet The Team – Joe Vera-Sanso
    • A financial review of 2023 and Outlook for 2024 – Matthew Burgess, Evelyn Partners
    • Online income – is this reportable to HMRC?
    • Payments on account – can you reduce these?
    • Form P11D – the long farewell
    • Renovating Properties – are you trading?
    • Nudge letters from HMRC – have you received one?
    • Furnished Holiday Lettings – a recap
    • LEADERSHIP PROGRAMME SUCCESS FOR CLIVE OWEN LLP COLLEAGUES
• 2023
  • December
    • Darlington Chartered Accountants support local foodbank
    • York accountants encourage local businesses to help support foodbank
    • Meet The Team – Yana Jones Hinkley
    • Yorkshire Shadow MPC – December 2023
    • Basis period reform
    • Disincorporation – time to consider?
    • Gifting an asset – tax implications
    • Tax round up for 2023
    • Clive Owen LLP wins recognition for its commitment to training at prestigious national awards.
    • 2023 at Clive Owen LLP
    • Self Assessment Tax Returns – commonly asked questions
    • Clive Owen LLP urges caution to businesses over Christmas party tax implications
  • November
    • Autumn Statement 2023
    • Charging electric cars at home – a change in the rules
    • Trivial benefits – to tax or not to tax?
    • Associated company rules – Implications post 1 April 2023 on the amount of tax and payment dates
    • VAT – Exceeding threshold temporarily – What can be done?
    • Mortgage interest tax relief – a re-cap
    • Relief for pre-trading expenses
    • Separating couples and child benefit
    • Development comes first at Clive Owen LLP
    • Meet The Team – Declan Smith
    • The Business Growth Fund – Could your Business be eligible?
    • Significant changes to small company financial reporting confirmed
  • October
    • North East Shadow MPC – October 2023
    • Key person insurance – are the costs tax relievable?
    • Director’s loans and tax issues
    • Dividends to family members – what are the risks?
    • Undeclared property income – what do you need to do?
    • Party, party, party – watch out for tax traps
    • Salary sacrifice – a recap
    • PAYE employees – watch OUT for 60% tax on bonuses
    • Mental Wellbeing Matters at Clive Owen LLP
    • World Mental Health day – Workplace Wellbeing at Clive Owen LLP
    • Meet The Team – Louise Crowe
  • September
    • ACCOUNTANCY FIRM WELCOMES MIDDLESBROUGH MAYOR TO CELEBRATE 40 YEARS OF GROWTH
    • The bigger picture – Our journey to become a more sustainable firm.
    • Autumn Statement – update
    • Gift aid donations – are you missing out on tax relief?
    • Selling residential property – is capital gains tax due?
    • The implications of late VAT registration
    • Self Assessment Tax Return – what are the benefits of filing this before 31 January 2024?
    • Car allowance payments – opportunity to save national insurance?
    • Yorkshire Shadow MPC – September 2023
    • Research & Development (R&D) relief – A changing landscape
    • Durham Business Growth and Productivity Programme
  • August
    • Stealth Taxes – the hidden truth
    • CLIVE OWEN LLP CONTINUES GROWTH WITH STUDENT RECRUITS
    • Inheritance tax – to be abolished?
    • Staff summer event – tax issues?
    • Tax-free childcare over the summer holidays
    • Do you need to register for VAT?
    • Property income – what expenses can you offset to reduce tax?
    • Business Asset Disposal Relief – have you exceeded the limit?
    • R&D claims – a changing landscape
    • Capital Gains Tax reporting – when and how?
    • Goodbye Superdeduction – Hello Full Expensing.
    • CLIVE OWEN LLP BECOMES A FRIEND OF MFC FOUNDATION
    • North East Shadow MPC – July 2023
  • July
    • Gratuities, tips and tax
    • HMRC to access new data about landlords?
    • Savings interest and dividends – are you going to pay tax?
    • Selling the garden for development – is it tax free?
    • LLP or limited company?
    • Business use of the home – is there a taxable capital gain to consider?
    • Mobile phones – a tax free benefit?
    • Undeclared income – what to do next?
    • LOCAL GOOD CAUSES CAN BENEFIT FROM YORK ACCOUNTANCY FIRM’S VOLUNTEERING SCHEME.
    • LOCAL GOOD CAUSES CAN BENEFIT FROM NORTH EAST ACCOUNTANCY FIRM’S VOLUNTEERING SCHEME
  • June
    • Giving away money free of inheritance tax
    • Earning over £100,000 – can you still claim a personal allowance?
    • 2021/22 Tax Return – penalties continue to accrue
    • Dividend paperwork – what do you need to do?
    • Employer tax deadline approaching – do you need to take action?
    • HMRC closing the helpline – can we help?
    • Deferring capital gains tax on a business asset
    • Yorkshire Shadow MPC – June 2023
    • Deja Vu! Voluntary State Pension Contribution Deadline Extended again
  • May
    • Gary Pollard – Meet the team
    • CLIVE OWEN LLP COLLEAGUES ACHIEVE MENTAL HEALTH AWARENESS QUALIFICATIONS
    • Gift aid – a sting in the tail?
    • 2023/24 remuneration strategy
    • Corporate tax increases – you may need to pay earlier
    • Tax issues on moving between the UK and overseas
    • Releasing equity from a buy-to-let – what are the tax issues?
    • Entertaining – are there any tax reliefs?
    • North East Shadow MPC – May 2023
    • Renovating a residential property – what are the tax issues?
    • Grant audits – the full report!
  • April
    • NORTH EAST ACCOUNTANTS AT THE HEART OF THE COMMUNITY WITH DEFIBRILLATOR INSTALLATIONS AND TRAINING
    • YORK ACCOUNTANTS AT THE HEART OF THE COMMUNITY WITH DEFIBRILLATOR INSTALLATIONS AND TRAINING
    • Happy new (tax) year….
    • Clive Owen tax manager achieves significant STEP qualification
    • Trivial benefits – what are the tax implications?
    • Share scheme reporting – 6 July 2023 deadline
    • Tax Return – do you need to complete one?
    • HMRC Closure of Certificate of Tax Deposit Scheme
    • PAYE settlement agreements – do you need one?
    • Property ownership – what are the tax differences?
    • 40 YEARS OF GROWTH FOR CLIVE OWEN LLP
    • TWO NEW PARTNERS FOR DARLINGTON BASED ACCOUNTANTS
  • March
    • CLIVE OWEN PARTNERS WITH TEESSIDE ERIMUS
    • Yorkshire Shadow MPC March 2023
    • FAQs – Innovate UK
    • FAQs – Business Growth and Capital Grant Schemes
    • FAQs – US Direct Loans
    • FAQs – Department for Education – Annex G’s / Annual Certificates of Expenditure
    • A Day in the life – Jum
    • Tax relief deadline – expiring on 5 April 2023
    • New corporation tax regime from 1 April 2023
    • Letting a property at a discounted rate – what are the tax issues?
    • Tax return errors – what are the penalties?
    • HMRC nudging taxpayers again
  • February
    • MIDDLESBROUGH ACCOUNTANTS SUPPORTING LOCAL FOODBANK
    • Record keeping and reporting – updates to be aware of for businesses and individuals
    • 2023 – business tax changes to look out for
    • Celebrating National Apprenticeship Week at Clive Owen LLP
    • When do I need to register for VAT?
    • State pension – do you have enough years to retire?
    • Are electric cars still a tax-efficient benefit?
    • Can you benefit from the trading allowance?
    • Using dividend waivers in tax planning
    • LLP v a company – Which is best?
    • Buy to let mortgage interest and tax relief
    • Capital gains tax exemption – use it before it reduces?
    • The dividend allowance is reducing – plan now?
    • Late filing tax return penalties – what next?
    • Tax planning – is now the time to consider this?
    • INFLATION AND SPIRALLING COSTS HIT ACADEMY SECTOR – DARLINGTON CO-AUTHOR OF MAJOR REPORT
    • BUSINESS EXPERT WARNS PROPOSED LEGISLATION COULD STIFLE A SPIRIT OF ENTERPRISE AND ENTREPRENEURSHIP
    • North East Shadow MPC January 2023
  • January
    • MAKE 2023 THE YEAR YOU TACKLE YOUR TAX PLANNING
    • HMRC enquiries set to rise?
    • Residential properties – capital gains tax reporting after 5 April 2023
    • Hobby business or trading?
    • Business Property Relief — ensuring that your company and its assets are 100% inheritance tax free.
    • The Construction Industry Scheme and property investment companies
    • Time to Pay arrangement
    • Tax Return deadline – 31 January 2023
    • LONG-STANDING TEESSIDE Business SOLD TO NEW FIRM WITH ASPIRATIONS FOR THE FUTURE.
• 2022
  • December
    • Making Tax Digital for ITSA delay
    • Darlington accountants dish up donations for food bank
    • Is it still worth incorporating?
    • Yorkshire Shadow MPC – December 2022
    • Maria Perek – My story
    • MULTI-MILLION POUND EXPANSION FOR DFP SERVICES
  • November
    • Meet the team – Phillipa Symington
    • York’s Clive Owen awarded gold standard for staff training and development
    • CLIVE OWEN AWARDED GOLD STANDARD FOR STAFF TRAINING AND DEVELOPMENT
    • Transferring assets between spouses
    • New VAT penalty regime from January 2023
    • Buy to let property companies – good idea?
    • Tax free travel to work is possible
    • HMRC determinations – what are they and how can they be cancelled?
    • Corporation tax rates – where are we now?
    • Undeclared income or gains – it’s time to come forward.
    • Spreading your 2021/22 tax bill – how can you achieve this?
    • Remuneration Planning – is it time to take a salary?
    • Autumn Statement Update
    • Managed Services – What the team does
    • Managed Services – About the team
    • Trustees’ Week 2022
    • Giving away the buy-to-let to save inheritance tax?
    • Reclaiming VAT on a car
    • Mileage allowance payments – what can be claimed?
    • Dividend income – getting it right!
    • Savers – will you be caught by a tax charge on interest?
    • Pension savings and excess allowance letters – what do you need to do?
    • North East Shadow MPC October 2022
    • CLIVE OWEN LLP DOUBLES MIDDLESBROUGH STAFF IN FIRST TWELVE MONTHS
    • Tax rises on the horizon?
  • October
    • IS IT TIME TO CONSIDER A HOLDING COMPANY AS PART OF YOUR BUSINESS PLANNING?
    • Business Energy Support
    • VAT online account – going, going, gone
    • R&D claims – latest statistics and changes coming
    • Meet The Team – Jayden – York Office
    • Registering for VAT voluntarily – is it worth it?
    • Are you at risk of receiving a nudge from HMRC?
    • Christmas parties are on the horizon – will you give HMRC a present?
    • Holding company – is it time to consider this as part of your planning?
  • September
    • Making Tax Digital for VAT
    • Mini Budget September 2022
    • YORK ACCOUNTANTS FACILITATE FOODBANK DROP OFF POINT TO HELP SUPPORT LOCAL COMMUNITY
  • August
    • Investment Review of 2022
    • NEW PARTNER FOR NORTHERN ACCOUNTANTS
    • NEW PARTNER FOR YORK ACCOUNTANTS
    • Making Tax Digital Update
    • Prime Minister Candidates and Possible Tax Cuts
    • Beware “Rogue” R&D Consultants
    • Attracting and Retaining Key Staff with Shares
    • More Details of MTD for Income Tax Reporting
    • North of England Accountancy Firm continues growing with eight new trainees and a new learning platform
  • July
    • Research and Development scheme – how to get the most from these claims
    • HMRC scam’s – what to look out for and what to do if you receive one
    • Close investment holding companies – do you have one and what are the tax issues?
    • HMRC increasing the penalty intake!
    • Summer Childcare Costs – Tax Relief Available
    • SEISS grants – penalties and reporting
    • Company cars – is the list price always the P11D price?
    • BAD relief – HMRC nudging taxpayers
    • Associated companies – how does it work?
    • Womble Bond Dickinson – Education White Paper & SEND Green Paper 2022
    • Blue Apple Education – Marketing Your MAT for Growth
    • Clive Owen LLP – Academies Finance Update
  • June
    • MTD for ITSA – Landlords beware
    • MORE PEOPLE TO FACE FINANCIAL SQUEEZE DUE TO TAX THRESHOLD FREEZE
    • Property businesses – what expenditure can be claimed?
    • The end of the solvent company’s life – what are the tax implications?
    • ‘Trivial benefits’ – what is trivial?
    • Filing your tax return early – what are the benefits?
    • CAPITAL GAINS TAX ON SEPARATION AND DIVORCE
    • SALARY SACRIFICE SCHEMES – GET THE TIMING RIGHT
    • ELECTRIC COMPANY CAR – DOES IT NEED TO BE NEW?
    • BUSINESS ADVISERS DEMONSTRATE THE BENEFITS OF PERSONAL DEVELOPMENT IN THE WAKE OF ‘THE GREAT RESIGNATION’
    • The number of higher rate taxpayers is increasing. Can anything be done?
  • May
    • What the cost of living crisis may mean for you!
    • HMRC widens the net for Trust reporting via the Trust Registration Service
    • Employment Related Securities Reporting
    • LEADING REGIONAL ACCOUNTANT SHOWS HOW TO GET MORE WITH LESS BY IMPROVING ITS WORKING PRACTICES
    • Changes to VAT penalties and VAT Interest charges
    • Do I need a holding company?
    • What is a PAYE settlement agreement and when can it be used?
    • Job related expenses – how to claim tax relief
    • Cryptocurrencies – a recap of the tax issues
    • R&D tax relief – points to note
    • Clive Owen staff to scale the heights in aid of charity
  • April
    • Corporation tax increases – April 2023
    • Making Tax Digital for VAT for all
    • Selling your home and garden – does size matter?
    • Forms P11D – Return of benefits in kind
    • Personal property income – how is this taxed between co-owners?
    • Daily penalties – coming soon…
    • Academies Update – AAD, Whitepaper, Leases and Filing Deadlines
  • March
    • CLIVE OWEN LLP EXPANDS HR DEPARTMENT TO SUPPORT STAFF GROWTH
    • Spring Statement Summary
    • Meet the team! Jake and Holly
    • Tax relief deadline closing on 5 April 2022
    • Should you pay a dividend before 6 April 2022?
    • Property owned by a company – have you considered ATED?
    • Furnished Holiday lets – implications of COVID-19.
    • In case you missed it – trading licence renewals and HMRC checks….
    • Capital allowances – points to consider
    • MISSING OUT ON HELP WITH CHILDCARE COSTS?
    • CONSIDER A SALARY SACRIFICE SCHEME
    • PAYROLLING BENEFITS IN KIND
    • CHANGES TO ACCOUNTING FOR VAT ON IMPORTS
    • VAT RATES FOR HOSPITALITY SECTOR DUE TO INCREASE FROM 1 APRIL
  • January
    • Investment Review of 2021
    • HMRC move the accounting date goalposts for up to half a million businesses
    • The future of UK grant funding
    • Tax relief for pre-trading expenses
    • Using your capital gains tax allowance
    • Struggling to pay your tax bill – what should you do?
    • Do I need to top up my state pension?
    • Property expenses whilst there are no tenants – can you get tax relief?
    • Tax deadlines on the horizon
• 2021
  • December
    • Capital gains tax reporting – increase in declaration time
    • HMRC paperwork – we don’t always get copies!
    • Reporting Covid-19 Support Payments
    • Rewarding employees – be aware of the tax risks if you are gifting shares!
    • Property income reporting
    • Child benefit – it is still worth registering even if you are not eligible?
    • Super deduction – is it time to plan your spend now?
    • CIS – How to work out whether it applies – practical problems on submission, penalties
    • Electric charging points – Is there a tax liability?
    • Christmas Tax Advice For Businesses
  • November
    • Putting people first at Clive Owen LLP
    • Furnished holiday lettings – rollover relief
    • Planning the Christmas party – make sure you don’t trip over tax liabilities!
    • Missed the 31 October 2021 deadline – do not fear, we can help!
    • SEISS grants – don’t forget that they are taxable! But were you eligible?
    • Dividends – how are they taxed?
    • Payments on account – what are they?
  • October
    • MTD for income tax postponed to 2024/25
    • Making Tax Digital: the current state of play
    • 1.25% increase in NIC’s and tax dividends to fund health and social care
    • Government support coming to an end. Is it time to finally consider that R&D claim?
    • Are you missing out on the super deduction?
    • Renewing a licence – make sure you are registered with HMRC!
    • Capital allowances on plant in residential property
    • HMRC support with childcare costs
    • Check your HMRC account – time to change your password?
  • September
    • Clive Owen LLP helps the ambitious RAH Group kickstart its growth plans
    • What does being part of Kreston mean for our clients?
    • Staff retention – is it time to use an EMI scheme?
    • Social Care: Reform and Funding
    • September is the last month for CJRS “Furlough” grants
    • Notify option to tax land and buildings within 30 days
    • Super deduction – a recap of the new relief
    • We’re English – don’t mention penalties…
    • Child benefit and salary changes
    • Nudge, nudge- who’s there- HMRC?
    • Tax implications of exceeding your pension allowance
    • Big tax bills for the self-employed in 2022/23
  • August
    • KASL Engineering Group Makes Significant Acquisition
    • Taxation of self-employed individuals and partners – HMRC consultation
    • HMRC enquiries on the rise – make sure you are covered!
    • Gifting property – capital tax implications
    • VAT registration – what does it mean?
    • MTD Coming Soon for Income Tax
    • Off-Payroll Working – Will HMRC Accept CEST Results?
    • Guidance on SEISS Turnover Test Issued by HMRC
    • Company Loss Relief an be Filled Early
    • HMRC Trust Registration Service – When is a declaration not a declaration plus other updates
  • July
    • Academies Trust Handbook Webinar
    • HMRC to resume debt collection enforcement work
    • What is an LLP?
    • Corporate tax increases – are you preparing for rises?
    • Extracting profits – are you being tax efficient?
    • Furlough Grant Reduces to 70% for July
    • SEISS – Fifth Self-employed Income Support Grant to be Paid in July
    • Pension Contributions – Tax Efficient for Both Employee and Employer
    • Breaking up is hard to do and more painful if there is a tax bill!
  • June
    • Check that your shares qualify for CGT business asset disposal relief
    • Selling a property after someone dies – is there a capital gains tax charge?
    • Extended loss carry back period – are you missing out?
    • Beware mini-umbrella company fraud
    • P11d forms issues
  • May
    • Making Tax Digital Extended to More Businesses
    • P11D Reporting benefits for 2020/21
    • EMI schemes – HMRC require your help!
    • Capital gains tax – 30 day reporting
    • HMRC delaying tax refunds
    • Daily penalties have started!
    • New tax year, same scams….
  • April
    • New Enhanced Loss Relief Rules May Result in Extra tax Refunds
    • SEISS grants – are they taxable?
  • March
    • ATED returns for properties valued in excess of £500,000
    • Are you running out of time to claim a tax refund?
    • What do HMRC know about you?
    • IR35 – A soft landing?
    • Lockdown – have you started a business?
    • Selling a main residence with land – what’s the tax issue?
• 2020
  • December
    • Thinking of changing your accountant?
    • Make a claim if you are working from home
    • Paying HMRC in instalments
    • Claiming higher rate tax relief for pension contributions and gift aid donations
    • Property sales – reminder
    • Budget… is coming…
    • Considering a property market venture?
    • How about a virtual Christmas party?
  • November
    • “AirBnB” income – is this covered by rent a room relief
    • More Time to Pay Tax Due on 31st January 2021
    • EMI share option schemes – to continue after Brexit
    • Company Vehicles – Court Rules in Favour of HMRC!
    • HM Revenue & Customs – Latest Campaigns
  • October
    • Rental income – have you declared it?
    • HM Revenue & Customs’ Enquiries are on the Rise!
    • Subcontractors and VAT on Installation/Fitting
  • September
    • Still considering an electric company car?
    • Get ready for leaving the EU on 1 January 2021
    • Capital allowances – cliff edge approaching?
    • CBILS is set to close
    • Errors in furlough claims
    • Retirement age and pension planning
    • Certain Property Business Owners are Liable to Class 2 NICs
    • Numerous Fraudlent CJRS Claims Identified
  • August
    • R&D claims – evidence required
    • HMRC systems are behind: Have you received any unexpected correspondence or penalty notices?
    • Recession tax planning
    • Offshore Income Reporting
    • Vans are cars?
    • North East LEP SME Restart and Recovery Grants
    • VAT Treatment of Deposits, Flat Rate Scheme and Hospitality VAT Reduction
    • CGT Increases Rumours
  • July
    • Property tax considerations and COVID-19
    • Tax residency and COVID-19
    • R&D tax relief and COVID-19
    • VAT concession to be withdrawn on solicitors search fees
    • Chancellor’s summer economic update – Covid -19 support update
  • June
    • Corporation tax repayments – Update to HMRC guidance
    • Reinstatement of Direct Debits for VAT
    • Tax Return Penalties – What’s A Reasonable Excuse?
    • Can We “Furlough” the Company Car?
    • New Authorised Economic Operator (AEO) Portal Dates
  • May
    • CGT Private Residence Relief Changes Go Ahead
  • April
    • Coronavirus (COVID-19) Cash Flow Enhancing Strategies
    • Budget Update – 31st March
  • March
    • Will pension tax relief change on the budget?
  • February
    • Tax Expert Warns of Capital Gains Tax Changes for House Sales
• 2019
  • December
    • CYCLE TO WORK SCHEME, GET ON YOUR BIKE!
  • August
    • Skills Support for the Workforce in the Tees Valley
• 2018
  • December
    • Growth and Expansion for our Durham office
  • November
    • HMRC step up MTD communications
    • York expands workforce and invests in young people
  • October
    • Accounting firm swaps calculators for trainers for charity marathon relay
  • July
    • Durham Office – Celebrating 21 years in business
  • April
    • TWO NEW PARTNERS JOIN OUR YORK OFFICE
• 2017
  • January
    • Coffee company is full of beans following grant funding success

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