Spring Statement March 2019

April 3rd, 2019

The following comments were written on the 13th March 2019 immediately following Philip Hammond’s presentation of the 2019 Spring Statement to Parliament. In theory, the government uses the Spring Statement to respond to the most recent forecasts made by the Office of Budget Responsibility (OBR). However, what follows is a short summary of the points […]


Retaining business records

April 3rd, 2019

Sole traders If you are self-employed, and obliged to submit a self-assessment tax return, you must keep your tax records for at least five years after the 31 January submission deadline of the relevant tax year. For example, if you submit your 2018-19 tax return online on or before 31 January 2020, you must keep […]


Are home to work travel costs ever allowed?

April 2nd, 2019

Ordinary commuting between home and work incurs costs: either shoe leather, if you walk, or the cost of transport. For most employees these costs are considered to be personal costs and are not deductible for tax purposes. This is so even if your employer requests that you attend out of hours, say the weekend. According […]


How are dividends taxed?

March 26th, 2019

Dividends received from shares held in UK companies form part of a tax-payers self-assessment. The payments are made by the paying company without any deduction of tax and therefore the amount received is the sum that needs to be declared. Dividends are paid out of the company’s retained profits – these are profits after any […]


Brexit , no end in sight

March 21st, 2019

On the 12 March the government updated its advice to traders with the EU. The advice assumes a no-deal outcome. On the basis that being prepared for the worst possible outcome, and a no-deal result is universally accepted to be a disaster for UK businesses, we are reproducing in full the text of the letter […]


Pension shakeup

March 19th, 2019

The past week, and who knows for how long into the future, has been a crazy week for politics in the UK. Brexit is challenging the way manage our democracy and it will be interesting to see how matters are resolved to observe the results of the EU referendum and cope with the apparent splits […]


No tax when you sell your home?

March 18th, 2019

The private residence relief allows you to sell your home without paying any capital gains tax (CGT) on the profit you make on the sale. If only life was that simple. Unfortunately, there are occasions when CGT may be payable. For example, if part of your home has been used exclusively for your business a […]


Spring Statement 13 March 2019

March 14th, 2019

The following comments were written on the 13th March 2019 immediately following Philip Hammond’s presentation of the 2019 Spring Statement to Parliament. In theory, the Government uses the Spring Statement to respond to the most recent forecasts made by the Office of Budget Responsibility (OBR). In a nut-shell, the OBR forecast that: the UK economy […]


Holiday entitlement

March 12th, 2019

According to government sources if you work a five day week, you are entitled to 5.6 weeks’ paid holiday a year. This is known as our statutory or annual leave entitlement. At first sight, 5.6 weeks looks to be an odd number of days, but it refers to a normal working week of five days. […]


Register your trade mark

March 7th, 2019

As we take steps to disentangle ourselves from the EU and make our mark in the wider global economy this may be a good time to consider any brand recognition marks you may be using and give serious consideration to getting them registered. There is a formal registration process linked to the gov.uk website, see […]