As we approach the end of yet another tax year it is worth reflecting on the role of HMRC in our tax affairs. Without a doubt, HMRC, tax legislation and its application, will continue to ensure that you pay your taxes. You can rely on HMRC to pounce if they

Since the launch of the Dormant Assets Scheme in 2011, £600m has been transferred from High Street banks and building societies to various good causes. The funds have come from bank accounts that are classified as dormant: where banks are unable to trace the account holders The scheme is to

The government have announced a £1,000 business rates discount for public houses The relief announced 27 January 2020, will be available to public houses with a rateable value of less than £100,000 and will apply for one year from April 2020. Central government will reimburse local authorities that adopt this

Following the resignation of Sajid Javid last week, there has been much speculation on how this will affect the direction of the budget to be presented to parliament next month. Rishi Sunak, who replaces Sajid, is stepping into the Chancellor’s role with little experience but does seem to have “rising

In a recent news story published to the Government website it was announced that a new breathing space period will freeze interest, fees and enforcement for people in problem debt, with further protections for those in mental health crisis treatment. The article is reproduced below: Millions of people with problem

There are certain gifts you can make that will not create a capital gains tax (CGT) charge, but care should be taken as there are exceptions. This article outlines some of the more common issues that need to be considered. Gifts to your spouse or civil partner Ordinarily, you will

Most property owners who let property under the Furnished Holiday Let (FHL) tax rules, submit their income and expenditure details on their tax return each year. This article considers occupancy, and the need to review occupancy of FHL properties each year. If your FHL business accounts year is the end

  FREE BUSINESS SEMINAR:    “How To Grow Your Profit & Keep It!” Doncaster Keepmoat Stadium, Stadium Way DN4 5JW Thursday 12th March 2020 4-6pm (arrival from 3.30pm) What do you want in 2020? • More profit? • Fun? • Better customers • More income? • Better results? • More

The 31 January has past and we are out of the EU. But what difference does this make and what is the transition period? The word “transition” is defined as: A change from one to another or the process by which this happens… Essentially, until 31 December 2020 – when

If a company makes loans to its employees (including directors) there may be tax consequences. The same may also apply to loans extended to their family members. For example, the employer will have an obligation to report a beneficial loan to HMRC (and pay Class 1A NIC) and the deemed