Hot Topics

What's new in the world of tax and business? This section contains articles on some hot topics.

26 May 2020

Looking ahead: exiting lockdown

Considering how businesses can restart operations once the COVID-19 lockdown ends.

28 Apr 2020

COVID-19: the Coronavirus Job Retention Scheme

Analysis of the Coronavirus Job Retention Scheme.

27 Mar 2020

Chancellor unveils help for self-employed workers

Government support for the impact of COVID-19.

18 Mar 2020

COVID-19: measures for UK businesses

Reviewing official guidance on COVID-19.

25 Feb 2020

Don't let flooding sink your business

Considering ways in which you can safeguard your business from flooding.

28 Jan 2020

Is time finally up for late payers?

Statutory 30-day limit for payment of all invoices proposed.

19 Dec 2019

Avoiding burnout

In today’s “always-on” society, business owners and managers are under more pressure than ever.

19 Dec 2019

Executing your strategy

Having a good strategy is one thing, executing it well can be a huge challenge.

18 Dec 2019

At last - the election is now over!

Well what is in store taxation wise? From the Conservative party manifesto, we know that for employers they plan to increase the National Insurance employment allowance to £4,000 in the not too distant future and for individuals they are looking to raise the NIC threshold to £9,500 from April 2020.

18 Dec 2019

Significant tax changes for those selling a property that is or was your main home... Farewell to lettings relief

From the 6th April 2020, there are planned changes to the Private Residence Relief rules which could affect a sale of your main home or a property that was your main home at one time. In addition, Lettings Relief will be significantly restricted resulting to some losing out on up to £40,000 capital gain relief per person.

18 Dec 2019

Simple ways to reduce inheritance tax (IHT)

You may remember in the Autumn newsletter we spoke about potential changes that could be on the way for UK Inheritance tax. The newly elected government will have to decide which of the recommended changes it wishes to implement.

18 Dec 2019

Taxing offshore investment funds

Don’t get taxed incorrectly is the first thought to take away after reading an article on offshore investment funds in HMRC’s latest newsletter. We know of cases where people have invested in Indian Mutual Funds and assumed that gains will be subject to CGT at 20% when in fact, they are taxable at much higher tax rates of up to 45% as income gains.

18 Dec 2019

Telic – a new venture focusing on those using business a force for good

As we head towards a new decade, there is a growing trend for businesses to be more purpose-driven by committing to make a positive and impactful change within the space they operate in whilst still making a profit.

18 Dec 2019

Christmas gifts of up to £50 to employees

Christmas and tax are generally subjects that do not go together but there are some generous tax-free benefits that can be given to employees just in time for Christmas.

18 Dec 2019

Gifts to charity

If you feel in a generous mood then please remember a gift to a gift-aid charity could help save you tax. Where possible higher rate taxpayers should “Gift Aid” any payments to charity to provide additional benefit to the charity and for the individual to obtain additional tax relief on the payment.

18 Dec 2019

Non-resident companies chargeable to corporation tax

Just a reminder on an article from our Autumn newsletter. Please remember, from 6 April 2020 significant changes come into effect for non-resident companies.

18 Dec 2019

Boris Johnson to delay 17% rate of corporation tax

As discussed in the introduction, Corporation tax is scheduled to be reduced from 19% to 17% from 1 April 2020.

16 Dec 2019

Making Tax Digital and the rise of online accounting software

Analysing the rise in popularity of online accounting.

26 Nov 2019

Staying pension wise

Looking at how individuals can protect their pension pots from pension scammers.

29 Oct 2019

Getting payroll right

Considering the UK's employment rights and looking at how employers must meet them.

25 Sep 2019

An example of Brexit madness

For all those that are not yet sick of hearing about Brexit there is a worrying example of where current UK legislation is not in a position to deal with a hard Brexit.

25 Sep 2019

Government u-turn on pension tax for doctors and others

From 2016/17 those taxpayers with ‘adjusted income’ over £150,000 and ‘threshold income’ over £110,000 receive a tapered annual allowance.

25 Sep 2019

Does your business engage workers via the worker’s own company?

The draft Finance Bill clauses issued for consultation on 11th July include legislation to extend the “off-payroll” working rules to the private sector from 6th April 2020.

25 Sep 2019

Creating an employer brand

The businesses that attract the best talent all have one thing in common - a great employer brand.

25 Sep 2019

Creating a more inclusive workplace

Diversity and inclusion are hot topics as society is driving firms to become more inclusive.

25 Sep 2019

Company officers jointly and severally liable for VAT penalty

The decision in a recent tax tribunal case reminds us that directors and other company officers may be personally liable for VAT penalties of their company.

25 Sep 2019

Building trust as a manager

In order to manage an effective team of people you need to win their trust.

25 Sep 2019

When is a van not a van?

The need for clarity follows the ruling in an important tax tribunal case involving “vans” provided to employees of Coca Cola.

25 Sep 2019

The power of saying "NO"

It’s important to be able to say “no” at work without making enemies.

25 Sep 2019

No VAT penalty if you missed the first quarterly MTD deadline

HMRC have let it be known that they will not be issuing penalties for MTD VAT qualified businesses that have filed 30th June 2019 VAT Returns on time under the old system.

25 Sep 2019

New VAT rules for the construction sector – postponed for one year

HMRC is to postpone implementation of the VAT reverse charge for building and construction services for 12 months.

25 Sep 2019

Inheritance Tax – don’t ignore it. you may fall under it

The political crisis and a potential general election do make predicting future tax changes difficult but what we do know is that UK Inheritance Tax (IHT) will continue to be severe with more and more people falling under it despite the OTS’s much awaiting review.

24 Sep 2019

Fighting business crime

Highlighting some key steps to take in order to combat business crime.

27 Aug 2019

Taking a look at HMRC's Loan Charge

Analysing HMRC's controversial Loan Charge and its impacts.

22 Jul 2019

Reviewing the changes to off-payroll working

Reviewing the changes to off-payroll working as HMRC prepares to extend the initiative to the private sector.

25 Jun 2019

Gifting and inheritance tax: considering the rules

Considering the rules surrounding gifting and inheritance tax.

11 Jun 2019

Capital Gains Tax

£80,000 of relief could be lost with possible changes to Letting Relief and Principal Private Residence Relief from April 2020.

11 Jun 2019

Extracting profit from the family company

The start of the new tax year means that shareholder/ directors may want to review the salary and dividend mix for 2019/20

11 Jun 2019

Air BNB landlords allowed to continue enjoying ‘rent a room relief’

Last year HMRC carried out a review of rent a room relief and it was proposed that the availability of this generous relief would be restricted to situations where the taxpayer was resident for at least part of the time when the “lodger” was paying rent.

11 Jun 2019

Personal service company changes

Personal service company changes from April 2020 as the Chancellor announced that the "off payroll" workers rules that currently apply in the public sector would be rolled out to the private sector.

11 Jun 2019

Reporting the issue of shares or options to staff and submission of P11Ds by 6 July

Gifts and awards of shares in companies, often known as employment related securities (ERS) are commonly used by employers to reward, retain or provide incentives to employees. They can be tax advantaged or non-tax advantaged.

11 Jun 2019

Setting Up a New Hire for Success

No one has a bigger impact on a new employee’s success than the manager who hired them. Here are some tips on how to set your new hires up to succeed.

11 Jun 2019

Focus on managing your energy, rather than your time

You can only spend your time in a productive, effective manner if you have enough energy to do so.

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