Investor’s relief

June 18th, 2018

At the time of the 2016 Spring Budget, the government announced that the existing capital gains tax (CGT) entrepreneurs’ relief would be extended to certain long-term investors in unlisted trading companies who had subscribed for their shares. However, when the Finance Bill 2016 was published a few days later, it became apparent that in fact […]


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Using tax to keep employees healthy

May 31st, 2018

The adverse effects of being inactive can of course have a major impact on health and wellbeing. According to a recent government repot, workers can spend up to three-quarters of their day sitting down, which contributes to a range of preventable health conditions, including the two leading causes of workplace absence: back injuries and stress, […]


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HMRC update guidance on Managed Service Companies

May 16th, 2018

HMRC have updated their guidance, following the recent decision in Christianuyi Ltd v R & C Commrs [2018] UKUT 10 (TCC), in which the Upper Tribunal ruled that a number of companies were operating as managed service companies (MSCs). In this case, the Upper Tribunal upheld the decision of the First-tier Tribunal that the appellant […]


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Use Gift Aid to save tax

May 1st, 2018

HMRC have recently highlighted that charities are collectively missing out on some £600m extra funding because a third of donations made do not add Gift Aid when they could have done so. Broadly, Gift Aid allows charities and community amateur sports clubs (CASC) to claim an extra 25p for every £1 donated. To add Gift […]


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When are tips taxable?

April 26th, 2018

The summer season usually sees a rise in the number of casual staff taken on by restaurants and cafes. Whilst the tax and NIC implications of wages is generally straight-forward, confusion often arises regarding tips and gratuities as the necessary tax and NIC treatment depends on how they are paid to the recipient. Cash tips […]


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Offshore income and the RTC rule

April 19th, 2018

HMRC are getting noticeably tougher on those who try to evade tax by hiding their assets or income offshore. They are increasing the size and range of penalties charged, and increasing the number of prosecutions of serious evaders. Broadly, a UK-resident taxpayer has a responsibility to notify HMRC of any taxable offshore income they receive. […]


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ISA limit update

March 21st, 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 £40,000 to their ISA […]


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HMRC win IR35 appeal

March 21st, 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 the arrangements under which […]


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Tax deductions for family members’ wages?

February 28th, 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 case of Nicholson v […]


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Latest MTD update

February 5th, 2018

Draft regulations, together with a draft explanatory memorandum and a draft VAT Notice, covering required changes to the VAT regime under the Making Tax Digital (MTD) project were published for consultation in December 2017. The consultation runs until 9 February 2018, and it is expected that live pilot testing will then begin in spring 2018. […]


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