Shared parental leave entitlements
The shared parental leave and pay rules offer working parents’ far greater choice as to how they share the care of their child and take time off work during the first year of their child’s Read more..
Child Benefit tax charge
The High Income Child Benefit tax charge could apply to you or your partner if either of your individual taxable earnings exceeds £50,000 and you are in receipt of child benefit. The charge Read more..
Loss of tax personal allowance
If your income is expected to exceed £100,000 for the first time, we would like to remind you of the effects this can have on your personal allowance and marginal tax rate. If you earn over Read more..
New advisory fuel rates published
Advisory fuel rates are intended to reflect actual average fuel costs and are updated quarterly. The rates can be used by employers who reimburse employees for business travel in their company cars or Read more..
Accounting periods if company has two or more trades
A tax accounting period for Corporation Tax purposes cannot exceed a 12 month period. If company accounts cover less than 12 months then the accounting period will normally end on the same day, and Read more..
Income excluded from property business
HMRC publishes a list of income streams that are excluded from a UK property businesses' taxable income. The list includes fishing concerns, hotels and guest houses, tied premises, caravan sites, Read more..
When Inheritance Tax applies to pensions
Inheritance Tax (IHT) is levied on a person’s estate when they die and can also be payable during a person’s lifetime on certain trusts and gifts. The rate of Inheritance Tax payable is Read more..
Tax Diary December 2019/January 2020
1 December 2019 - Due date for Corporation Tax payable for the year ended 28 February 2019. 19 December 2019 - PAYE and NIC deductions due for month ended 5 December 2019. (If you pay your tax Read more..
Affected by the recent floods?
The Government has put a number of emergency flood measures in place to help those affected by the recent devastating floods. This includes 100% council tax and business rates relief and emergency Read more..
Avoiding tax scams
Fraudsters are continuing to target taxpayers with scam emails in advance of the 31 January deadline for submission of Self-Assessment returns. In fact, over the last year, HMRC received nearly Read more..