New Rent-A-Room Rules

HMRC have now proposed new legislation to limit the circumstances in which rent a room relief can be claimed. This article explains when and how the new restrictive rules will apply. To explain, rent a room relief allows a person to rent all or part of their home to a lodger and they can receive […]

What Is The Real Limit Of Tax Free Home Working Payments?

If you work from home, your company can provide tax and national insurance free help in many different ways. What are these ways? Homeworking Costs: if you look at the HMRC website and related publications, you will see that the maximum tax and national insurance free amount your company can pay for you working from […]

making tax digital for vat

Making Tax Digital For VAT – A Notice Has Been Published!

VAT Notice 700/22 Making Tax Digital for VAT was published on 13th July 2018, alongside two other supporting documents dealing with Making Tax Digital for Business and a related Software Suppliers Report. It is important to be aware that HMRC have the authority to issue Making Tax Digital legislation by way of these notices and […]

Landlords Have Now Been Added To The Making Tax Digital Pilot

At the end of May 2018 HM Revenue & Customs has extended its Making Tax Digital for its business pilot to include landlords as well as self-employed individuals (although not yet partnerships). So if you have a single buy-to-let or a portfolio of properties you can now opt to join the trial for Making Tax […]

What Are Director’s Loans & How Do They Work For Tax?

A loan from your company can be a useful tool but there are two tax charges which can apply where your company lends money to you as a director and if you control 5% or more of the company’s ordinary shares.  These are also known as Director’s Loans. The first is a temporary charge on […]

What Is A Personal Tax Account?

HMRC are encouraging all taxpayers to set up a personal tax account to manage their personal tax affairs. Ultimately the aim is for each individual’s tax history and current position to be maintained on this account. So this would include for example your business affairs, including VAT if your business was registered for VAT, your […]

HMRC Real Time Capital Gains Tax Service – How Does It Work?

Until recently, if you needed to report a capital gain to HMRC, you would need to complete a self-assessment tax return. Now there is a choice. 1) You can still use a self assessment tax return, or 2)  You can use the capital gains tax (CGT) real time service. This can be accessed by logging […]

Pimlico Plumbers

Pimlico Plumbers Decision Made By Surpeme Court

TAX & NATIONAL INSURANCE IMPLICATIONS OF THE PIMLICO PLUMBER STATUS The Supreme Court has upheld earlier decisions which confirmed that the individual was a “worker” and not self-employed. This case deals with employment status and has been a long running battle between Gary Smith the Plumber and Pimlico Plumbers Ltd. The “worker” status gives employment […]

NEWSFLASH 19 June 2018 – What Is A Simple Assessment?

The aim of a Simple Assessment is to reduce the number of taxpayers in self assessment via a form PA302. This will be a paper based system (even if the taxpayer has opted to go paperless) and will be copied to agents. The tax will be due by 31 January or 3 months after the […]