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18-01-2018
A reminder of ways you can pay tax due

A reminder of ways you can pay tax due

Last week we confirmed that as from 13 January 2018, HMRC will not accept personal credit cards for payment of tax or penalties. We have listed below the payment options you still have available to you: Electronic payment. HMRC’s preferred method ... read more

18-01-2018
Buying a rental property?

Buying a rental property?

The removal of the 10% wear and tear allowance that allowed landlords to reduce the tax they paid on furnished property lets (after the end of the 2015-16 tax year) was a significant loss for many landlords. The 10% deduction was available to ... read more

18-01-2018
Projects that count as R & D for tax purposes

Projects that count as R & D for tax purposes

Research and Development (R&D) tax credits were introduced for small and medium sized enterprises (SMEs) in 2000 and for large companies in 2002. R&D credits are a Corporation Tax relief to encourage innovation and enterprise within the UK ... read more

18-01-2018
Salary sacrifice examples of tax consequences

Salary sacrifice examples of tax consequences

The tax and NIC advantages of certain benefits provided as part of a salary sacrifice arrangement were removed from 6 April 2017. The new rules effectively remove the Income Tax and employer NIC advantages of certain benefits provided as part of ... read more

18-01-2018
What to consider when employing family, young people and volunteers

What to consider when employing family, young people and volunteers

When a new employee is added to the payroll it is the employers’ responsibility to ensure they meet the employees’ rights and deduct the correct amount of tax from their salary. This includes any employees who are family members. HMRC’s guidance is ... read more

18-01-2018
What is the herd basis?

What is the herd basis?

There are special rules which can apply to farmers and market gardeners that prepare their accounts on an accruals basis. This includes special rules for farmers’ averaging relief, dealing with losses and the treatment of compensation for compulsory ... read more

10-01-2018
Holiday let property – reminder to check your occupancy stats

Holiday let property – reminder to check your occupancy stats

The Furnished Holiday Let (FHL) rules allow holiday lettings of properties that meet certain conditions to be treated as a trade and therefore qualify for additional tax benefits. In order to qualify as a FHL, the following criteria need to be ... read more

10-01-2018
Who is entitled to claim statutory maternity pay?

Who is entitled to claim statutory maternity pay?

Employees that are pregnant are eligible to take up to 26 weeks of maternity leave (known as ordinary maternity leave) plus an additional 26 weeks (known as additional maternity leave). This means that an employee can take up to a full year of ... read more

10-01-2018
The end of credit card payment surcharges?

The end of credit card payment surcharges?

From 13 January 2018, it will become illegal for any business to charge a fee in addition to the advertised price of a transaction to consumers (widely known as surcharging). For example, a travel company charging more to use a credit card rather ... read more

10-01-2018
Basic monthly tasks if you run your own payroll

Basic monthly tasks if you run your own payroll

One of the most time-consuming admin tasks associated with the running a small business can be dealing with the payroll. Generally speaking, you can: Run your own in-house payroll, or Hire your accountant to do the work for you. If you operate ... read more