January 21, 2020
The Loan Charge review; recommendations and government response
Originally announced in 2016, the so called ‘Loan Charge’ came into effect on 5 April 2019. The measures sought to target users of disguised remuneration schemes. These schemes saw workers paid in loans rather than receiving income in the traditional sense of the word; for example, a direct salary or
January 6, 2020
Civil partnerships and tax
Mixed-sex couples in England and Wales have been able to register their intent to enter civil partnerships since 2 December 2019. This follows former Prime Minister, Theresa May’s announcement in October 2018, that the law would change. At time of writing, the first ceremonies have already taken place. Latest data
November 22, 2019
Audit: Growing businesses can benefit too
Many UK businesses must have a statutory audit; generally, those who meet any two of the following criteria: • where company turnover exceeds £10.2 million; • where total company assets exceed £5.1 million; or • where the company has more than 50 employees. Companies below these thresholds are usually termed
October 24, 2019
P11D’s; Have you told us about your health insurance policy?
A health insurance policy that is paid for by you as an employer, on behalf of an employee, is considered to be a taxable benefit in kind by HM Revenue & Customs (HMRC). Subsequently, this benefit should be reported to HMRC at the end of each payroll year, via the
October 21, 2019
Probate fee increases abandoned; How did we get here?
The Government has announced, after much to-ing and fro-ing, indefinite delays and a lot of harsh criticism from industry professionals and concerned families, that the previously planned probate fee increases will be abandoned. Probate fee increases; The proposals Earlier this year, we commented on the proposed probate fee increase
September 20, 2019
Will I pay Capital Gains Tax on a classic car?
By definition, Capital Gains Tax (CGT) is a tax on the profit that you make when you sell, or dispose of, an asset that has increased in value. Having invested in a classic or vintage car, you may find that its value increases during the course of ownership. This is
August 21, 2019
A quick Q&A on… the VAT reverse charge
The VAT reverse charge will change the way in which building contractors account for VAT, on some of their supplies, from 1 October 2019. Building contractors must comply with the new rules if they undertake either of the following activities: Buys in construction services, from other builders, then makes an