Tax News

R&D claims – evidence required

R&D claims – evidence required

Date posted: 27th Aug 2020

It is important to remember that when making a claim for research and development tax relief, HMRC will expect that you will provide sufficient information for them to…

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HMRC systems are behind: Have you received any unexpected correspondence or penalty notices?

HMRC systems are behind: Have you received any unexpected correspondence or penalty notices?

Date posted: 14th Aug 2020

As you may be aware HMRC have had to reallocate staff to deal with the myriad of Corona Virus support schemes. This has resulted in them being behind…

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Recession tax planning

Recession tax planning

Date posted: 14th Aug 2020

As the UK officially enters a recession, we take a look at what tax planning opportunities may be available for individuals and businesses. A few potential ideas are…

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Offshore Income Reporting

Offshore Income Reporting

Date posted: 14th Aug 2020

HM Revenue & Customs (“HMRC”) have started to issue letters to clients and their representatives in relation to unreported overseas income. HMRC are clearly concerned that individual’s are…

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Vans are cars?

Vans are cars?

Date posted: 14th Aug 2020

The Court of Appeal has recently ruled that certain modified vans are regarded as cars for tax purposes, rather than vans. This follows on from the original tribunal…

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VAT Treatment of Deposits, Flat Rate Scheme and Hospitality VAT Reduction

VAT Treatment of Deposits, Flat Rate Scheme and Hospitality VAT Reduction

Date posted: 6th Aug 2020

When the Chancellor announced a temporary cut in the rate of VAT for the hospitality sector and attractions in his Summer Statement on 8 July there were a…

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CGT Increases Rumours

CGT Increases Rumours

Date posted: 6th Aug 2020

There has been a lot of speculation in the Press that the Chancellor may introduce radical changes to capital gains tax to start to repay the substantial Government…

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Property tax considerations and COVID-19

Property tax considerations and COVID-19

Date posted: 15th Jul 2020

Following the Chancellor’s recent announcement regarding the cut to stamp duty land tax (SDLT), the UK residential property market is expected to see an increase in transactions in…

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Tax residency and COVID-19

Tax residency and COVID-19

Date posted: 8th Jul 2020

Travel restrictions imposed by COVID may cause a tax headache for a number of individuals who are usually regarded as non-UK resident and as a result do not…

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R&D tax relief and COVID-19

R&D tax relief and COVID-19

Date posted: 8th Jul 2020

Tax relief for research and development (R&D) expenditure, remains an underclaimed corporate tax relief. Nevertheless, for those companies claiming the relief, it has proven to be a valuable…

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