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We like to keep ahead of the curve wherever we can – whether that’s technological advances, legislation, or just what’s happening in accounting. Then share it all as free advice on our blog page.

View Planning Ahead? | 2020 Bank Holidays

Planning Ahead? | 2020 Bank Holidays

The following dates for next years Bank Holidays were recently published on the gov.uk and regional websites. Upcoming Christmas Bank Holidays  (England and Wales, Scotland and Northern Ireland 2019) 25 December Wednesday Christmas Day 26 December Thursday Boxing Day Upcoming Bank Holidays (England and Wales 2020) 1 January Wednesday New Year’s Day 10 April Friday…

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View Using Your Vehicle For Business Purposes | Advice

Using Your Vehicle For Business Purposes | Advice

As a general rule, if you use your private transport for trips related to your employment, you may be able to claim tax relief if you are not reimbursed for this business use by your employers. Exceptionally, any normal travel between your home and your place of work will always be excluded from this calculation…

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View Don’t Fall For The Fraudsters | HMRC Scam

Don’t Fall For The Fraudsters | HMRC Scam

We are fast approaching the deadline for filing self-assessment tax returns in the UK for 2018-19. As readers will be aware, this deadline is 31 January 2020. Unfortunately, this coincides with a pick-up in scamming activity by fraudsters pretending to be the tax office. HMRC have recently posted an alert for taxpayers and this is…

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View When Trivial Benefits Can Be Significant

When Trivial Benefits Can Be Significant

The following extracts from HMRC’s website explain how certain benefits to employees can be tax-free. Surprisingly, HMRC describe these as “trivial” benefits. Tax-Free Benefits You don’t have to pay tax on a benefit for your employee if all of the following apply: it cost you £50 or less to provide it isn’t cash or a…

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View Goodbye 2019, Hello Opportunities

Goodbye 2019, Hello Opportunities

We are approaching the end of the calendar year, goodbye 2019, and the end of the of the current tax year, 2019-20, will draw to a close 5th April 2020. Uncertain Future Add to this self-assessment deadlines, Brexit changes, election results and will we – won’t we – have a budget speech any time soon,…

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View The Benefits Of Furnished Holiday Lets

The Benefits Of Furnished Holiday Lets

Most buy-to-let property is let on short leases to a single tenant. The income from rents is treated as a property business, but a number of reliefs available to other trading businesses are not available to buy-to-let landlords. However, if these same properties were let as Furnished Holiday Let (FHLs) property, more advantageous tax benefits…

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View Higher National Living Wage Rates

Higher National Living Wage Rates

A new report suggests the National Living Wage (NLW) could rise to £10.50 per hour over the next five years. Higher National Living Wage Report Businesses that have a significant number of workers who are paid at the National Minimum Wage (NMW), NLW rates should probably read the recent independent report, summarised below. Internationally, there…

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View Employing Someone At Home | Advice

Employing Someone At Home | Advice

HMRC will consider you as employing someone at home if a nanny, housekeeper, gardener or anyone else meets the following criteria: you hire them, and they are not self-employed or paid through an agency. Your Responsibilities If these criteria do apply this means you have certain responsibilities, like meeting the employee’s rights and deducting the…

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View Negligible Value Claims | Capital Gains Tax

Negligible Value Claims | Capital Gains Tax

Occasionally, the tax system in the UK throws up an issue that does not make sense. For example, how can you create a tax loss for capital gains tax (CGT) purposes without disposing of the asset? Capital Gains Tax Explained CGT applies when an asset subject to CGT is sold or otherwise disposed of. If…

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