If you rent out all or part of your home this may create a Capital Gains Tax (CGT) charge when you sell the property. Presently, HMRC excludes the last 18 months of your ownership – even if the property is let for this time – when assessing any CGT liability. In a draft of the …

Update that diary, the new August & September 2019 Tax Dates are in, check them out below: 19 August 2019 – PAYE and NIC deductions due for month ended 5 August 2019. (If you pay your tax electronically the due date is 22 August 2019) 19 August 2019 – Filing deadline for the CIS300 monthly …

The present legal protections against redundancy is to be extended by six months for new mothers returning to work. Parents returning from adoption and shared parental leave will also be protected. The move comes in response to a government consultation which found that new parents continue to face unfair discrimination. Research estimates that up to …

It looks increasingly likely that we are heading for a no-deal Brexit. Taken literally, this means that our present relaxed trading relationship with customers and suppliers in the EU will cease at the end of October this year. Whilst there will be attempts to ease customs congestion and the effects of new tariffs, now is …

In a bid to accommodate yet more electric vehicles on our roads, the government has launched a consultation aimed at increasing the number of homes with electric car charge-points. In a recent press release they said: “All new-build homes could soon be fitted with an electric car charge-point, the government has outlined today (15 July …

If you are setting up a new business one of the options, you will need to consider is your business structure. There are two basic choices: Be self-employed, or Incorporate your business, be a limited company. There is a world of difference between the two options. Self-employed Self-employed suggests that you work on your own, …

The way we organise our business and personal financial affairs determines the amount of taxes we pay. Most of us are focussed on outcomes, outcomes that on the face of it increase our profits or income without due regard for the effect these transactions have on our tax position. A classic example is the rule …

As UK resident persons we are obliged to comply with the law, if we don’t, there are consequences. These range from financial penalties to imprisonment. Tax compliance covers areas such as submitting returns to HMRC by the required dates and observing certain disclosure rules if our personal or financial circumstances change in a particular way. …