Transferring Ownership of Property November 22, 2023We are frequently asked to advise on the tax implications of transferring property between individuals and of incorporating a property... Read More
What is the tax treatment of an overage clause and its subsequent gift? November 13, 2023Question: We have two clients who are sisters that jointly own a parcel of land in England that they inherited... Read More
Article of Transitional Profit 2023-24 November 6, 2023Question: I am looking at my client’s projected tax position for the year ending April 2024. This is the year... Read More
Are you accessing all of your client’s data correctly through HMRC’s online services? October 20, 2023Taxpayers can now grant authority for agents to access their pay and tax records directly via the Agent Services Account.... Read More
The UBER effect October 11, 2023Over the last few years, many words have been written in regard to UBER’s challenges with HMRC, most famously the... Read More
Unprecedented Challenges: Understanding HMRC’s Scrutiny of R&D Tax Credit Claims and the Role of SIC Codes October 3, 2023As Tax Fee Protection Providers, our claims department have seen the volume of R&D tax credit investigations reach previously unprecedented... Read More
Q: I want to buy a motorhome or campervan; what are the tax implications? September 18, 2023Motor Homes HMRC has always considered these vehicles to be cars for tax purposes because they are mechanically propelled road... Read More
The pitfalls of Share Dealing – Are You Trading for loss relief? August 29, 2023The recent case of N Henderson v HMRC [2023] TC8755 shows that it is not always easy to distinguish whether... Read More
Do you supply serviced, holiday or leisure accommodation? You may have paid too much VAT! August 3, 2023A recent First Tier tribunal decision in the case of Sonder Europe Ltd v HMRC [2023] TC08853 has gone against... Read More
Good news for non-residents hit with an additional 2% stamp duty! July 27, 2023Since the 1 April 2021, different rates of Stamp Duty Land Tax have applied to purchasers of residential property in... Read More
Change of enforcement date for new claim notification and additional information requirements: August 8, 2023 July 27, 2023New claim notification and additional information requirements will not be enforced until August 8, 2023. Originally due to come into... Read More
Deadline for voluntary National Insurance contributions extended to April 2025 July 27, 2023Taxpayers have been granted an extension until 5 April 2025, to address gaps in their National Insurance records from April... Read More
Earning a commission, surely that’s not subject to VAT? July 20, 2023The VAT liability of earning a commission is a subject we regularly get asked questions about on the VAT helplines.... Read More
Tax Returns July 14, 2023Submission dates and whether you need to complete one. An overview Notices to complete Self-Assessment tax returns are issued after... Read More
Plastic Packaging Tax Reminder June 15, 2023If you manufacture or import 10 or more tonnes of plastic packaging within a 12-month period, you must register for PPT on... Read More
Changes to the second-hand margin scheme for cars which are bought in Great Britain and moved to Northern Ireland June 15, 2023A new scheme has been introduced with effect from 1 May 2023 under “The 2023 Value Added Tax (margin schemes... Read More
My client is in the process of selling woodland whose trees are being sold as ‘pending issuance units’ (PIUs). Will the value attributable to the woodland be exempt from Capital Gains Tax? May 17, 2023First, a little background… The UK Woodland Carbon Code (WCC) is a government backed standard for woodland creation projects across... Read More
HMRC Cracking Down on R&D Claims May 10, 2023Companies that conduct Research and Development (R&D) need to be aware of the upcoming changes in the R&D tax relief... Read More
Challenges Posed by HMRC Enquiry May 3, 2023There has been a considerable increase in HMRC’s scrutiny of claims, with bona fide claims being rejected on the basis... Read More
Research & Development –The New Rules for SMEs April 27, 2023Research & Development –The New Rules for SMEs With effect from 1 April 2023, the rules applying to R&D relief... Read More
HMRC Enquiry Challenges April 17, 2023There has been a considerable increase in HMRC’s scrutiny of claims, with bona fide claims being rejected on the basis... Read More
Increase in the National Living Wage April 5, 2023The National Minimum Wage Act 1998 introduced a statutory right to be paid a certain amount of remuneration for work... Read More
What is the accurate treatment of trading profits and capital gains from April 2023, for corporation tax purposes? March 30, 2023Starting with the 2023 financial year, from 1 April 2023 the main rate of corporation tax will rise from 19%... Read More
Did Truss Get It Right On Tax…? March 21, 2023…sort of! Cutting through all of the political hyperbole and potentially poor timing of the previously announced tax cuts and... Read More
Budget Summary March 2023 March 16, 2023Hunt for growth Jeremy Hunt opened his first full Budget speech by declaring that it was a ‘budget for growth’.... Read More
Business Asset Disposal Relief – Have You Had Too Much Of A Good Thing? March 14, 2023Key Points HMRC are now issuing letters to taxpayers whom they believe have made claims for Business Asset Disposal Relief... Read More
Annual Tax on Enveloped Dwellings (“ATED”) March 7, 2023Key Points Revaluations of property are required based on Market Value on 1 April 2022 Properties within ATED require reports... Read More
The New R&D Tax Relief Enquiry Landscape March 7, 2023HMRC has recently recruited additional technical resource which has resulted in a dramatic rise in the number of enquiries opened... Read More
Under the Radar – the Relevant UK Earnings Tax Charge March 1, 2023Under UK law, pension contributions are an attractive and tax efficient way of saving for one’s retirement. However, there are... Read More
Super-Deduction Withdrawal Or, A Tale Of Two Donovans February 22, 2023Last year was certainly a rollercoaster. From the highs of the Platinum Jubilee, the Lionesses winning the Euros, and a... Read More
