HMRC are increasing the number of letters issued to taxpayers from its Risk and Intelligence Service, Offshore department.
Entrepreneur’s Relief – Important changes and planning
There are important changes to the conditions that apply in order for a taxpayer to claim Entrepreneur’s Relief (ER) on disposal of their shares in their personal company.
HMRC starter checklist for all new employees and getting the PAYE code right
Do you use the HMRC approved starter checklist when taking on new employees? This form is not optional; all new employees should complete it even if they present a completed form P45.
Taxes and reliefs when selling a let property
Many landlords are deciding to sell their residential properties. What are their options for taxes and reliefs?
Daily subsistence rate for employees when working away from the office
Employees travelling on business need to eat. Keeping track of expense claims for meals taken whilst working away from the office can involve a lot extra effort.
Changes to Capital Gains Tax – PPR and Lettings Relief
Important changes will come into force in April 2020 which relate to tax relief that is due on the sale of property which was previously a taxpayer’s Principle Private Residence “PPR” during any point in the period of its ownership.
The new tax : Loan charge
If you were persuaded to take a loan in place of
part of your pay in the past and you have not repaid it, you may now be liable to pay a new tax called the loan charge.
Tax rates and deadlines for stamp duty
The government has shortened the period for paying SDLT from 30 days to 14 days
Your pension health check
The month of March is a good time to review whether you have made sufficient pension contributions in the tax year, and to check whether you are in danger of exceeding your annual pension contributions allowance which would lead to a pension contributions tax charge.
Retain your entrepreneurs’ relief
Entrepreneurs’ relief allows you to pay capital gains tax at ten percent on gains made on the disposal of shares issued by your personal company, or assets used by that company
Interest from PPI claims
In all cases the interest portion of the PPI settlement must be declared
Claw-back of child benefit
The high income child benefit charge (HICBC) was introduced in January 2013 to claw back child benefit where the highest earner in the family has total net income of £50,000 or more.