NO DEAL BREXIT – WHAT ABOUT VAT?
The Government and HMRC have updated its collection of high-level guides called “partnership packs”, intended to help businesses involved in importing and exporting prepare for changes to customs procedures after […]
The Loss of Reliefs for the Late Submission and Incomplete Return of Corporation Tax Returns
Under Section 1085 of the Taxes Consolidation Act 1997 claims to a number of reliefs are restricted where tax returns are submitted late. The amount of the restriction is calculated […]
Close Company Surcharge on Certain Undistributed Income
Section 440 of the Taxes Consolidation Act 1997 provides for an additional charge of corporation tax on close companies at the rate of 20 per cent of the excess of […]
VAT REGISTRATION LIMIT CONTINUES TO BE FROZEN
The VAT registration limit normally increases in line with inflation each year. However, it was announced last year that the limit would be frozen at £85,000 until 1 April 2020. […]
ANNUAL INVESTMENT ALLOWANCE INCREASED TO £1 m
The Annual Investment Allowance (AIA) which provides businesses with a 100% write off against profits when they acquire plant and machinery has been temporarily increased from £200,000 to £1 million […]
IR35 “OFF-PAYROLL” RULES TO BE EXTENDED TO PRIVATE SECTOR
Very controversially, the Government have decided to extend the rules for personal service companies in the public sector to workers in the private sector from April 2020. This follows a […]
MORE MONEY FOR NHS AND AN END TO AUSTERITY?
As previously announced, these were the main themes of the Chancellor Phillip Hammond’s third budget but what we were waiting to hear was where the extra money was going to […]
Employee rights: shared parental leave
Following suggestions that less than half the public is aware of the scheme, HMRC are promoting awareness of Shared Parental Leave (SPL) rights among employees. SPL and Statutory Shared Parental […]
Buying property across UK borders
Now that Wales and Scotland each has its own property tax regime, the rules affecting the purchase of property have changed. Close attention to detail will be needed to ensure […]
IR35 – change ahead?
IR35 is very much in the news. Over the last months, there have been several tax tribunal cases involving IR35 contractors – one high profile case going against BBC Look […]
