More recent posts
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The marriage allowance explained – how to make this tax break work for you
Millions of married couples and civil partners in the UK are eligible for the marriage allowance, but take-up has remained subdued since the tax break came into force…
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Landlords welcome tax incentives for long-term tenancies
The government is giving consideration to the introduction of tax incentives for landlords who offer longer tenancies as part of a new consultation. The Ministry of Housing, Communities…
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HMRC raises interest rates for late payments
HM Revenue & Customs (HMRC) wasted no time in notifying its intention to raise the rates of late payment interest, following the announcement of the rise in the…
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Moving Day
Excitement is in the air today at Magma, as the Leicester team move into their wonderful new offices at Charnwood Edge Business Park. It’s been a long time…
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HMRC has rolled out its tough new strategy on offshore tax compliance
HMRC has rolled out its tough new strategy on offshore tax compliance. The ‘requirement to correct’ (RTC) imposes a legal requirement on taxpayers to disclose previously undeclared offshore…
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Furnished holiday lettings – the pros and cons
When furnished holiday property is let on a commercial basis for short periods, the owner can benefit from tax reliefs which wouldn’t otherwise be available to residential landlords,…
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How will Making Tax Digital affect you?
Making Tax Digital is a seriously hot topic with changes coming in from April 2019. VAT-registered businesses with turnover above £85,000 must maintain a digital record of the…
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Leicester office move
We are excited to announce that our Leicester team will be moving to more modern and improved offices from Monday 6 August 2018. Whilst the new offices are…
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Do you know the inheritance tax limits?
According to a recent survey by Canada Life, over two thirds of those whose estates may be liable for inheritance tax (IHT) are unaware of the threshold for…