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Tax Tips and News

  • IHT: know your limit

    Newsletter issue - March 2018.Insurance company Canada Life's annual survey for 2017 has revealed growing confusion over the operation of inheritance tax. According to the survey, more than two thirds of respondents did not know the current level of the inheritance tax nil rate band - among adults over the age of 45 with assets…Read More

  • HMRC win IR35 appeal

    Newsletter issue - March 2018.HMRC have won a significant appeal concerning the application of employment intermediaries legislation to BBC television presenters. In Christa Ackroyd Media Ltd and the Commissioners for Her Majesty's Revenue and Customs, [2018] UKFTT 0069 TC06334, the First Tier Tribunal (FTT) ruled that the legislation (known as the 'IR35 rules') applied to…Read More

  • Tax deductions for family members' wages?

    Newsletter issue - March 2018.Many adults are likely to embrace the offer of help with technology from the younger generation! So where a child is employed in a family business to work on, say, website creation, management and social media, how can the owner make sure that their wages will be tax deductible? The recent…Read More

  • ISA limits update

    Newsletter issue - March 2018.The maximum annual investment limit for Individual Savings Accounts (ISAs) will remain at £20,000 for 2018/19 (of which, for eligible investors, £4,000 may be saved in a Lifetime ISA). Although the investment limit is not rising in the new tax year, a couple will still be able to add up to…Read More

  • March questions and answers

    Newsletter issue - March 2018.Q. I am a sole trader and have been trading for several years. My turnover has now exceeded the VAT registration threshold and I have registered with HMRC accordingly. I am currently waiting for VAT number and certificate. Will I be able to claim back VAT on purchases made by the…Read More

  • March key tax dates

    Newsletter issue - March 2018.13 - Spring Statement 2018 19/22 - PAYE/NIC, student loan and CIS deductions due for month to 5/3/2018Read More

  • Spring Statement 2018

    Spring Statement 2018 Chancellor Philip Hammond said it would be a short, snappy affair when he delivered the government's first Spring Statement to the House of Commons today, and this was indeed to be the case - it took just 30 minutes to cover the key points. The statement focused on the latest forecasts for…Read More

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