Category Archives: Personal tax

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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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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Consider a Partnership

January 10th, 2018

Whilst forming a partnership can be an extremely flexible way for two or more people to own and run a business together, it is important to appreciate that under this type of trading vehicle, the partners themselves do not have individual protection. If one of the partners resigns, dies, or goes bankrupt, the partnership has […]


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Abolition of Class 2 NICs delayed

December 6th, 2017

On 2 November 2017, the Government announced a one year delay to the abolition of Class 2 National Insurance Contributions (NICs). Class 2 NICs will now be abolished from 6 April 2019 rather than 6 April 2018. The delay will allow time for the government to engage with interested parties and Parliamentarians with concerns relating […]


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The OTS outlines future work plans

November 17th, 2017

The Office of Tax Simplification (OTS) has published a paper outlining its future works programme, identifying areas of interest that the office will be looking at in the next twelve months and beyond. The OTS is currently working on a review of VAT, and expects to publish its report in October or November 2017. Work […]


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All change for termination payments

November 8th, 2017

As confirmed in the 2017 Spring Budget, the tax rules governing termination payments will change from 6 April 2018. The term ‘termination payment’ is typically used as a generic summary for a lump sum payment, which is normally (but not always) made to an employee at the time the employment comes to an end. The […]


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Using the IHT gift exemptions

October 28th, 2017

As Benjamin Franklin observed in 1789 ‘In this world nothing can be said to be certain, except death and taxes.’ More than two centuries on, this statement still rings true! These days however, inheritance tax is often referred to as a voluntary tax, because there are various ways to minimise liability to it, or even […]


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Working from home

July 1st, 2017

Over recent years, it has become increasingly popular for employers to allow their employees to work from home, and in doing so, pay an amount to cover any additional household costs incurred. What are the tax implications of such expenses for the employee? Broadly, no tax liability will arise where an employer makes a payment […]


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CGT annual exemption: use it or lose it!

June 24th, 2017

Capital gains tax (CGT) is normally paid when an item is either sold or given away. It is usually paid on profits made by selling various types of assets including properties (but generally not a main residence), stocks and shares, paintings, and other works of art, but it may also be payable in certain circumstances […]


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