How the £1,000 trading allowance works20181212040000

How the £1,000 trading allowance works

December 12, 2018
There is a £1,000 tax allowances for miscellaneous trading income that has been available to taxpayers since April 2017. This is known as the trading...
When is lettings relief available?20181212040000

When is lettings relief available?

December 12, 2018
In general, there is no Capital Gains Tax (CGT) on a property which has been used as the main family residence. This relief from CGT is commonly known...
Qualifying for VAT special schemes20181212040000

Qualifying for VAT special schemes

December 12, 2018
There are three main special VAT schemes available to small businesses. These are the flat rate scheme, the annual accounting scheme, and the cash acc...
Is your income approaching £100,000?20181212040000

Is your income approaching £100,000?

December 12, 2018
For high earning taxpayers, the personal allowance is gradually reduced by £1 for every £2 of adjusted net income that exceeds £100,000 irrespectiv...
Are you ready for VAT filing changes April 2019?20181212040000

Are you ready for VAT filing changes April 2019?

December 12, 2018
The introduction of Making Tax Digital (MTD) for VAT is fast approaching. From April 2019, some 1 million businesses with a turnover above the VAT th...
VAT on property service charges20181212040000

VAT on property service charges

December 12, 2018
A new Revenue and Customs Brief (6-2018) entitled VAT exemption for all domestic service charges has recently been published by HMRC. The brief explai...
Citizens’ rights in the event of a no deal Brexit20181211040000

Citizens’ rights in the event of a no deal Brexit

December 11, 2018
The government has published a policy paper on what might happen to EU citizens in the UK and UK nationals in the EU in the event of a “no deal” B...
When you can utilise overlap relief20181205040000

When you can utilise overlap relief

December 5, 2018
The assessment of self-employed or partnerships profits is usually relatively straight-forward if the accounting date, to which accounts are prepared ...
Who can or cannot claim the Employment Allowance20181205040000

Who can or cannot claim the Employment Allowance

December 5, 2018
The Employment Allowance of £3,000 per year is available to most businesses and charities to be offset against their employers Class 1 NIC bill. The ...
Taxation of termination payments20181205040000

Taxation of termination payments

December 5, 2018
In the 2016 Budget, the government announced that termination payments over £30,000 would be subject to employer National Insurance Contributions (NI...