Navigating the risks of Valentine’s Day It’s Valentine’s Day later this week and love is in air (apparently). However, an unwanted Valentine’s gesture in the office could lead to awkwardness, discomfort or even legal issues. As an employer, how can you ensure Valentine’s Day passes smoothly? Get the help you need and get to know ... Read More
Self-employed set for penalty reprieve Over 1m people missed the 31 January filing deadline last week and will shortly be receiving automatic £100 penalties as a result. However, HMRC has announced that the penalty won’t be enforced for the self-employed – but only in limited circumstances. Are you eligible? Get more help with our Accounting ... Read More
Chancellor set to tone down non-dom reform? Domicile will no longer be a relevant factor in an individual’s tax status from April 2025. However, reports are suggesting that the Chancellor is going to soften the blow for those affected. What’s going on? Domicile is a general, not a tax, law principle. Nonetheless it has long ... Read More
Russian hedge fund manager loses £484k SDLT case. The First Tier Tribunal (FTT) has found that an ex-bacon factory was suitable for use as a dwelling and therefore did not qualify for SDLT relief. What’s the full story? InTretyakov v Revenue and Customs, Mr Tretyakov (T) purchased a luxurious £5.75m property in London and paid a ... Read More
Selling online – what’s HMRC’s latest guidance? Recently published guidance which suggests that as an online seller you may have to report to HMRC even if you’re selling personal possessions you no longer want. Is this actually true? Déjà vu? HMRC seems slow to learn that ambiguous information has a habit of breeding unwelcome headlines ... Read More
MTD ITSA – another step closer HMRC has picked up the pace on using Making Tax Digital for Income Tax Self-Assessment (MTD ITSA). Its new guidance explains how to join the scheme part way through a tax year. Is now the time for you to get on board? Timetable In April 2026, just 15 months away, ... Read More
Taking advantage of the employment allowance If you’re worried about the cost to your business of the hike in employers’ NI from April 2025, the higher employment allowance (EA) might alleviate some of the pain. But will you qualify and are there any traps to avoid? Employment allowance The changes to the NI contribution thresholds ... Read More
MONTHLY FOCUS: CORPORATION TAX AND TRADING LOSSES The ongoing high levels of running costs mean that more companies have (or will be) reporting trading losses. How can these be relieved efficiently and when may losses be restricted? Page Content:- Calculation of trading losses Relief for losses Restrictions on loss relief Calculation of trading losses How ... Read More
Harry Potter star loses £1.9m tax row Harry Potter star Rupert Grint has lost an appeal at the tax tribunal after attempting to pay capital gains tax on his earnings from the films. What’s the full story? Rupert Grint (RG) took on the role of Ron Weasley at the tender age of 13, and so ... Read More
Christmas gifts – the perennial tax question It’s that time of year when thoughts turn to schmoozing customers and incentivising your workers with Christmas goodies. Choosing suitable gifts is easy, understanding the tax treatment less so. What’s to know? HMRC plays Scrooge Aside from the limited exemption from the benefits in kind rules which applies ... Read More
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