More recent posts
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Do you want to be a business owner? An MBO could be the answer
If you are one of the 60% of adults in the UK who has ambitions of being a business owner, a management buy-out (MBO) could represent an attractive…
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HMRC tax clampdown on buy to lets
A campaign by HM Revenue & Customs to encourage buy to let investors to confess any undeclared tax liability has produced millions of pounds of additional tax revenue.…
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Payroll Changes – new NIC thresholds
The 2020 Budget is still a few weeks away, but the NIC rates and thresholds have been announced, together with details for other payroll deductions. Employees will…
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New attractive tax rules for electric cars
From April, company car tax will be scrapped for electric car buyers, and experts are predicting increased demand for electric vehicles. The SMMT (Social Motor Manufacturers and Traders)…
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HMRC repeats the same mistake
Tribunal unimpressed with HMRC bringing a case concerning input tax recovery on tax advisory costs nearly identical in facts to a case it lost three years ago. In…
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HMRC issued more than 4,300 winding up orders in 2018-19
HM Revenue & Customs filed 4,308 winding up petitions in the year to September 2019, an increase of 6% from the previous year. HMRC uses these petitions to…
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Pension contributions: what you need to declare on your tax return
If you are in the process of completing your 2018-2019 self-assessment tax return over the next few days (deadline Friday 31 January), don’t forget to declare your pension…
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Increase in Inheritance Tax investigations
Around one in four taxable estates face investigations over their inheritance (IHT) payments as HMRC increases anti-avoidance activity. Over 5,000 IHT investigations were opened by HMRC in the…
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Act now before the Entrepreneurs’ Relief disappears
With the Budget scheduled to take place on Wednesday 11 March, business owners who have considered selling their business should be aware that Entrepreneur’s Relief is reportedly under…