Heads up for contractors

October 29th, 2019

Contractors completing energy improvements on the homes of low-income families will need to be registered with a new government quality scheme – the Energy Company Obligation (ECO) – to give residents confidence that they will get a good service. Work undertaken through ECO offers free energy-saving measures, including insulation and new boilers for low-income and […]


Beefing-up UK exports

October 24th, 2019

UK farmers looking for opportunities to export beef products to China will be encouraged by the recent relaxation of export criteria. A recent UK government press release titled “China opens doors to British Beef” explains what is being offered. A summary of the press release is reproduced below: The British beef industry is set to […]


Win while you save

October 22nd, 2019

In a further attempt to incentivise savings our government has created a new saving vehicle called a PrizeSaver account. Here’s what the Treasury press release on the launch says: Treasury launches pilot of new PrizeSaver account on International Credit Union Day. Savers who put away as little as £1 with participating credit unions have chance […]


Cars and taxing issues

October 17th, 2019

We have listed below a number of issues that you will need to consider if directors or employees use a car for business purposes. Essentially, if the car is owned by the business any private use of the vehicle will trigger a tax charge for the driver (car user) and a possible NIC bill for […]


Paying tax if you are self-employed

October 15th, 2019

If you are a sole trader or an individual member of a partnership you will likely be subject to income tax, and possibly National Insurance, on your earnings. Unfortunately, tax being taxing, earnings for tax purposes may not be the same as the monthly drawings you take from your business. For example, you may decide […]


Disposing of a UK residential property?

October 10th, 2019

UK readers who are anticipating the sale of a residential property on which a capital gains tax (CGT) charge may apply would be advised to consider the changes to the reporting and payment of this CGT charge from 6 April 2020. The general rule will be that for relevant disposals on or after this date […]


An update for hauliers

October 8th, 2019

If you are involved in the transport of goods to and from the EU HMRC have posted useful guidance on what you will need to do to accommodate a no-deal Brexit on 31st of this month. The guidance can be downloaded as a PDF from https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/836920/transporting-goods-between-the-uk-and-eu-in-a-no-deal-brexit-guidance-for-hauliers.pdf Transitional arrangements are in place regarding licenses and permits. […]


Tax Diary October/November 2019

October 4th, 2019

1 October 2019 – Due date for Corporation Tax due for the year ended 31 December 2018. 19 October 2019 – PAYE and NIC deductions due for month ended 5 October 2019. (If you pay your tax electronically the due date is 22 October 2019.) 19 October 2019 – Filing deadline for the CIS300 monthly […]


The loan charge controversy continues

October 4th, 2019

The following press release was published by HMRC last month. Extracts are reproduced below: Sir Amyas Morse, the former Comptroller and Auditor General and Chief Executive of the National Audit Office (NAO), will lead an independent review of the Loan Charge… The review will consider whether the policy is an appropriate way of dealing with […]


Enjoy a tax-free Christmas bash

October 4th, 2019

Follow the outline below to ensure that the cost of your annual staff party will not create tax issues for you or your staff. The event must be open to all employees at a specific location. An annual Christmas party, or other annual event offered to staff, generally is not taxable on those attending, provided […]