News

Tax relief deadline closing on 5 April 2022

Tax relief deadline closing on 5 April 2022

Date posted: 17th Mar 2022

If you have previously not claimed full tax relief for say gift aid donations or pension contributions, then in most circumstances, you have four years to make a…

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Should you pay a dividend before 6 April 2022?

Should you pay a dividend before 6 April 2022?

Date posted: 17th Mar 2022

If you operate your business through a company and extract profits in the form of dividends, it is prudent to review your dividend policy to determine whether it…

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Property owned by a company – have you considered ATED?

Property owned by a company – have you considered ATED?

Date posted: 17th Mar 2022

The Annual Tax on Enveloped Dwellings (ATED) is a tax on high-value residential properties that are held within ‘an envelope’, such as company or a partnership with at…

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Furnished Holiday lets – implications of COVID-19.

Furnished Holiday lets – implications of COVID-19.

Date posted: 17th Mar 2022

One of the sectors hit most by COVID-19, was the travel and tourism sector. In particular, Furnished Holiday Let (FHL) businesses were required to shut for a large…

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In case you missed it – trading licence renewals and HMRC checks….

In case you missed it – trading licence renewals and HMRC checks….

Date posted: 17th Mar 2022

As we advised in October 2021, those individuals that renew licences to drive taxis and private hire vehicles or to deal in scrap metal, will be subject to…

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Capital allowances – points to consider

Capital allowances – points to consider

Date posted: 17th Mar 2022

Capital allowances essentially provide tax relief on the acquisition of equipment such as motor vehicles, vans, trucks, machines, computers and so forth. At the moment, the “super deduction”…

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MISSING OUT ON HELP WITH CHILDCARE COSTS?

MISSING OUT ON HELP WITH CHILDCARE COSTS?

Date posted: 15th Mar 2022

The government are concerned about the lack of take up of tax-free childcare accounts, with HMRC estimating that only about 25% of families eligible for the scheme had…

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CONSIDER A SALARY SACRIFICE SCHEME

CONSIDER A SALARY SACRIFICE SCHEME

Date posted: 15th Mar 2022

Salary sacrifice schemes are popular schemes but there advantages have been reduced by HMRC over the years. One of the most popular areas of salary sacrifice arrangements relate…

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PAYROLLING BENEFITS IN KIND

PAYROLLING BENEFITS IN KIND

Date posted: 15th Mar 2022

HMRC are encouraging more employers to payroll employee benefits in kind rather than declaring benefits on the end of year P11d forms. If employers haven’t already done so…

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CHANGES TO ACCOUNTING FOR VAT ON IMPORTS

CHANGES TO ACCOUNTING FOR VAT ON IMPORTS

Date posted: 15th Mar 2022

HMRC have recently updated their guidance for VAT registered importers. These traders must account for postponed import VAT on their VAT returns for the accounting period which covers…

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