Latest News
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Change to IHT on pensions proposals
HMRC has published a policy statement announcing an important change to its plans to include pension savings in an individual's estate for inheritance tax (IHT) purposes. What’s the full story?
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Class 2 NI problems to continue beyond summer
The problems with incorrectly charged Class 2 NI have been widely reported. HMRC has just released an update, and it’s bad news for affected individuals. What’s the full story?
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Time off for fertility treatment?
A survey by Fertility Matters at Work has revealed that more than one-third of employees undergoing fertility treatment have resigned or are considering resigning because of the physical and emotional toll. Is there a right to time off for fertility treatment?
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HMRC’s new compliance check service
HMRC has published a collection of videos and notes to help if you’re picked for a compliance check. Is HMRC’s new service worth a look or is it just official propaganda?
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Loan written off: are you in HMRC’s crosshairs?
HMRC is writing to directors that took a loan from their company that was later written off or released. What should you do if you receive a letter?
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Meaning of “new and unused” clarified for CAs purposes
The guidance on what “new and unused” means for the purposes of first-year allowances has been updated in order to make things clearer. What’s the full story?
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Scammers already targeting pensioners over winter fuel payments
Phishing attacks are already being sent to pensioners purporting to be from the Department for Work and Pensions (DWP). What’s going on and how can you avoid becoming a victim?
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Winter fuel payments to be clawed back via tax system
A government U-turn on the winter fuel payment was announced this week, with a new means-tested threshold. How will this work in practice?
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Latest advisory fuel rates published
The amount that employers can reimburse staff for business travel in company cars changes from 1 June 2025. What are the new rates?
Newsletters
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Capital gains tax break for job-related accommodation
You’re in the process of selling a property that you bought as your home but because of your job have never lived in. You’ve been told that you’ll have to pay tax on any gain you make, but might a special relief get you off the hook?
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Should you revoke your 20-year-old option?
Your business has let out a building to a tenant and it is now just over 20 years since you opted to tax the property with HMRC. Should you revoke it so that your tenant no longer needs to pay VAT?
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Chip shop owner fined £40k for hiring illegal worker
A Surrey fish and chip shop owner has been left in shock after being fined £40,000 for allegedly employing someone who didn’t have the right to work in the UK, even though he conducted a right to work check. Where did this employer go wrong and what can you learn from it?
Monthly Focus
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MONTHLY FOCUS: THE KEY TAX CONSIDERATIONS FOR A NEW BUSINESS
In this monthly focus, we take a look at the tax matters that affect new unincorporated businesses in the first year, including dealing with HMRC, the choice of accounting basis, deductible expenses, and dealing with losses.
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MONTHLY FOCUS: INTRODUCING IR35
The rules known as IR35 are complicated in practice. In this Monthy Focus, we introduce the rules and explain the contractual factors HMRC will look at when considering whether they apply to a particular engagement.
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MONTHLY FOCUS: CGT RELIEF FOR SHARE DISPOSALS
Business asset disposal relief is available where businesses are sold, but can also apply to the disposal of company shares and, in some circumstances, assets used by the company. What are the rules?
Practical Guides
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What are the tax benefits of buying commercial property?
Following the abolition of the furnished holiday lettings regime, you are considering the tax advantages available for commercial property compared to residential property. What are the key factors?
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Does income lose its nature over time?
Following the inheritance tax announcements at the 2024 Autumn Budget, your mother is keen to take advantage of the exemption for gifts out of income to reduce the value of her estate, with a gift to her grandchild. Will this work, and could HMRC argue that gifts from accumulated savings are capital in nature?
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The 10% problem with charitable legacies
In 2024, the First-tier Tribunal (FTT) gave judgment in a case where an estate attempted to access the reduced inheritance tax (IHT) rate which applies when funds are donated to charity. What were the problematic points and what can you learn from it?
Tools & Calculators
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Income tax calculator
The introduction of special tax allowances, rates and rate bands which interact differently depending on your level and type of income has made the calculation of income tax liability far from straightforward. Our calculator can be used to work out your income tax liability, and can be used where you receive any combination of earnings, savings income, dividends and most other types of income. It will also calculate any adjustment required to finance costs relating to letting income.
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VAT flat rate scheme tool
HMRC offers a simplified scheme for small businesses to work out and account for VAT. This can offer a financial and administrative advantage.
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Company car capital contribution calculator
A company car is taxed according to its list price. This can be reduced if you make a capital contribution towards the purchase of the car. This calculator shows you how much tax could be saved.
Tax Documents
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Alternative ways to challenge HMRC
After several months of trying to get your point across to HMRC you’re getting nowhere. Might a formal review help resolve the issue and how do you go about applying for one?
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Director's or employee's loan account record
Director’s loan account record A taxable benefit in kind may arise where a director is provided with a loan, either interest free or at a rate of interest below HMRC’s official rate (3% for 2016/17). Use this document to calculate what, if anything, you need to declare to HMRC. Make a note Where a cheap rate or interest-free loan is no more than
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Dividend waiver
A dividend waiver is a document produced by a sharelder to show that they have given up (waived) their right to one or more dividends that they would otherwise be entitled to. A waiver can be used in income tax and inheritance tax planning but it must be made as a deed or HMRC will not accept its validity.
Calendar
* All dates are subject to possible adaptations
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