Tax Archives - Page 5 of 7 - George Hay Blog

Beware undisclosed property income!

Carol George Accounting, Business, Business Advisory, Business Support, Carol George, Deadlines, Economic / Business News, George Hay, HMRC, Industry Sectors, Legislation, Property, Property Taxation, Tax, Team Member October 13, 2020November 17, 2023airbnb, annual trading allowance, CGT, coronavirus, furnished holiday let, HMRC, income, investment, let property, rent-a-room relief, residential, self-assessment, Tax, tax return 0 Comment

Undisclosed property income has long been on HMRC’s radar and its data sharing system has made it easier to pursue those taxpayers at fault. Last month, Reuters reported on an investigation into the UK arm of Airbnb, conducted by HMRC,

Read more...

Stamp duty surcharge on non-resident property transactions

Richard Dilley Business, Business Support, Cash flow, Economic / Business News, Industry Sectors, Property, Property Taxation, Richard Dilley, Tax, Team Member September 29, 2020November 17, 2023investment, non-resident, property tax, residential, SDLT, stamp duty land tax, stamp duty surcharge, tax planning 0 Comment

The government has issued draft legislation outlining how the two per cent Stamp Duty Land Tax (SDLT) surcharge will apply to non-resident property transactions. ‘Relevant period’ for stamp duty residence test From 1 April 2021, the number of days a

Read more...

Is online where your business is headed?

Caroline Hicks Accounting, Business, Business Advisory, Business Support, Business Taxation, Caroline Hicks, Cash flow, Charities, Coronavirus, Hospitality, Industry Sectors, Large businesses, Online Accounting, Outsourced Services, Retail, Small businesses, Start-ups, Tax, Team Member September 23, 2020November 17, 2023bookkeeping, business, cash flow, COVID-19, e-commerce, management accounts, online, online accounting, Tax 0 Comment

Even before Covid-19, many business owners were wise to the benefits of having an ‘online’ element to their enterprise. Now though, in the face of adversity and new challenges, these benefits are being enjoyed even more widely. Some individuals are

Read more...

Van vs. car: what are the tax implications?

Sarah Dixon Accounting, Business, Business Support, Business Taxation, Economic / Business News, Employers, HMRC, Large businesses, Legislation, Personal Taxation, Sarah Dixon, Small businesses, Start-ups, Tax, Team Member, VAT September 11, 2020November 17, 2023annual investment allowance, benefit-in-kind, capital allowances, car, employee, employer, P11D, profits, Tax, van, VAT 0 Comment

Back in August 2019, we commented on a tax case where a van provided to employees was reclassified as a car. The case, involving Coca-Cola, shines a light on the issues associated with the provision of vehicles to employees and,

Read more...

Probate applications drop during lockdown

Barry Jefferd Barry Jefferd, Coronavirus, George Hay, GH Probate, Inheritance Tax, Personal Taxation, Probate, Team Member May 27, 2020November 17, 2023applications, Cambridgeshire, coronavirus, COVID-19, estate, GH Probate, huntingdon, inheritance tax, probate 0 Comment

HM Courts and Tribunals Service (HMCTS) has revealed, to probate practitioners, that the volume of probate applications has fallen during lockdown. Normally, they would receive around 5,000-6,000 submissions a week. Since the lockdown was imposed, however, numbers have halved –

Read more...

Lifetime ISA withdrawals penalty temporarily reduced

Sarah Dixon Coronavirus, HMRC, Personal Taxation, Sarah Dixon, Tax, Team Member May 5, 2020November 17, 2023coronavirus, Government, Lifetime ISA, penalty, savings, Tax, tax planning, tax-efficient 0 Comment

The Government has confirmed that the penalty for early Lifetime ISA withdrawals has been reduced, in response to the Coronavirus pandemic. With thousands of individuals on lower incomes as a result, many are needing to access savings to support themselves.

Read more...

Home working and tax relief on expenses

Barry Jefferd Barry Jefferd, Business, Business Support, Employers, HMRC, Industry Sectors, Large businesses, Personal Taxation, Small businesses, Tax, Team Member May 1, 2020November 17, 2023coronavirus, employee, employer, employment tax, expenses, HMRC, home working, income, tax relief 0 Comment

In recent years, home working has become increasingly popular. Since the Coronavirus outbreak, it has effectively become the norm for millions of people. If you ‘require’ your employees to work from home, they can – and have always been able to

Read more...

Categories

Archives