Tax News

Tax relief on charitable donations

Tax relief on charitable donations

Date posted: 23rd Jul 2024

If you make donations to charity, you can benefit from tax relief on those donations. This can be achieved in various ways. Gift Aid If you are a…

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PAYE settlement agreement– what is it?

PAYE settlement agreement– what is it?

Date posted: 12th Jun 2024

In simple terms, a PAYE settlement agreement (or PSA for short) is a way of an employer settling tax bills for employees, on amounts which may be deemed…

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Employment taxes – what are HMRC targeting?

Employment taxes – what are HMRC targeting?

Date posted: 12th Jun 2024

Employment taxes can be a minefield when it comes to not only salary payments but benefits-in-kind. It is very important to understand the implications of employment taxes and…

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Interest on children’s bank accounts – could it be taxed on the parents

Interest on children’s bank accounts – could it be taxed on the parents

Date posted: 12th Jun 2024

Given the recent rises in interest rates, everyone with savings is enjoying a higher return of interest paid by their banks. It is important to remember that tax…

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HMRC scam letters on the rise?

HMRC scam letters on the rise?

Date posted: 12th Jun 2024

We have been contacted by some clients, who have received letters from “HMRC” asking them to pay unpaid tax and PAYE liabilities. The letters appear to be genuine…

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VAT bank details held by HMRC – are they up to date?

VAT bank details held by HMRC – are they up to date?

Date posted: 11th Jun 2024

We understand that HMRC is altering a number of businesses to check the bank details held by HMRC. Whilst we understand a letter from HMRC may be daunting…

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Tax Planning for Politics – tips before the election

Tax Planning for Politics – tips before the election

Date posted: 11th Jun 2024

    By Tax Partner, Lee Watson     Stick or twist? So, the question of the date of a general election has been answered and the country…

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Will the change in the R&D regime impact the timing of paying tax?

Will the change in the R&D regime impact the timing of paying tax?

Date posted: 3rd May 2024

As we have stated previously, a lot more companies will have fallen into the quarterly instalments (QIPs) regime, since 1 April 2023. Following another change from 1 April…

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Higher rate pension relief – important reminder

Higher rate pension relief – important reminder

Date posted: 3rd May 2024

In simple terms, you may be missing out on tax relief by not realising that you need to claim a higher amount of pension tax relief, if you…

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Making use of your inheritance tax allowances

Making use of your inheritance tax allowances

Date posted: 3rd May 2024

It is often said that inheritance tax (IHT) is a voluntary tax, and one that can be avoided if you give away sufficient assets at least seven years…

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