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Personal tax

COVID-19 Quick Guide (updated 6/4/2020)

April 6, 2020

Support for COVID-19

Introduction:The UK, Scottish and Welsh Governments and the Northern Ireland Executive have announced a wide range of measures to support businesses that are experiencing financial difficulties due to COVID-19 (commonly referred to as the ‘Coronavirus’). The support that...

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Tax dates and return deadlines for the tax year 2019/20

April 6, 2019

Introduction

Knowing the important deadlines in the tax year 6 April 2019 to 5 April 2020 will help you to prepare and send off the main forms in good time. You may have a range of obligations for corporation tax, PAYE, self-assessment, VAT, National Insurance contributions (NICs) and th...

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HMRC enquiries: Which records to keep private

February 14, 2019

The issue

Any taxpayer who submits a tax return can be selected for an HM Revenue and Customs (HMRC) enquiry at random. Those taxpayers unfortunate enough to be selected may find HMRC’s tax return enquiries rather obtrusive.Is HMRC entitled to see a self-employed taxpayer’s privat...

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IR35 (Off-payroll rules) - updated on 10 April 2019

April 2, 2019

What is IR35?

If you’re not directly employed by your client in a traditional sense, but you use an intermediary (such as a Limited Company) to provide your services, the intermediaries’ legislation – known as ‘IR35’ – may apply to you.Under IR35, you have the burden...

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Directors' Loan Accounts

February 9, 2019

Tax planning

The opportunity to borrow funds from a personal or family company can provide an attractive source of cheap finance. In a family or personal company, transactions between the company and the individual directors are commonplace. A director's loan account is a simple mechanis...

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Close Companies

February 8, 2019

What is a close company?

A company is close if it is UK resident and either condition A or B is met: Condition A: It is under the “control” of: Five or fewer participators, orParticipators who are directors. Condition B: That five or fewer participators, or participators who are directors togeth...

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Cash basis for landlords – when does it apply?

January 18, 2019

The cash basis simply takes account of money in and money out – there is no need to worry about debtors and creditors and prepayments and accruals. Income is recognised when received and expenditure is recognised when paid. Since 6 April 2017, the cash basis has been the d...

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Inheritance tax – making tax-free gifts

January 15, 2019

There are various exemptions, and potential exemptions, which make it possible to make gifts free of inheritance tax. Making tax-free gifts is a useful way to reduce the value of your estate – and ultimately the inheritance tax that may be payable on gifts....

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Are you bereaved?

July 23, 2017

Important financial steps

There are important financial actions that you need take in the event of a bereavement. This blog talks you through some of the support that’s available. 'Tell Us Once' is a service that lets you report a death to most government organisations in one go. Th...

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Tax credits

July 10, 2017

Don't miss 31 July deadline

If you’re claiming tax credits, We are reminding everyone to renew by the 31 July deadline. If you miss the cut-off date, your tax credit payments will stop and you may have to pay back the tax credits you’ve been given since 6 April 2017....

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