complete financial know how

Articles in category: HMRC

Lettings Relief & Private Residence Relief changes

Do you have a rental property? Are you thinking of selling? Did you know changes to Private Residence Relief (PPR) and Lettings Relief are being brought in by HMRC from 6th April 2020? When you sell a property for a profit you could be liable for Capital Gains Tax on any gains made at 18/28%, […]

Read More →

Could Tax-Free Childcare help you?

For many working parents, childcare costs can eat up a large chunk of the family budget and play a significant role when planning a return to work and deciding working hours. However,  help is at hand with Tax-Free childcare, which is a government scheme to support working parents with the cost of childcare. Entitled parents […]

Read More →

Using Xero & affected my MTD?

Making Tax Digital came into effect from 1st April 2019. Under the new regulations, all UK businesses that are VAT registered and above the £85,000 threshold are now required to keep their records digitally and submit VAT returns to HMRC using MTD-compatible software. You are now unable to submit VAT returns using the HMRC website. […]

Read More →

Trivial Benefits; A Quick Guide

If you’re an employer and you provide benefits to your employees, these are usually subject to tax and National Insurance. HMRC introduced a new exemption for “trivial benefits”. This means that small gifts to employees and entertainment provided to employees are now exempt for tax and NI. What is a Trivial Benefit? A trivial benefit […]

Read More →

UK Payslips: Changes to the Law in April 2019

On 6th April 2019, new legislation comes into effect which requires all workers to be given itemised payslips. It was noticed by UK Government that some employers had been either inadvertently or deliberately, flouting UK Employment Law and denying some employees their rights to minimum pay. For zero or low hour contracts, many companies were […]

Read More →

Tax Enquiries – Fee Protection Service

Avoid paying additional fees by subscribing to our Tax Investigation Protection Service! Many tax investigations and audits by HMRC can be extremely complex, intricate and time-consuming to deal with. The costs of defending your business can undoubtedly run into thousands of pounds, even if little or no tax is paid at the end of the […]

Read More →