Hull: 01482 224763
Pocklington: 01759 305165
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ICO issues notices of intention to fine BA and Marriott
17/07/2019 - More...
Following an extensive investigation,...

Reminder to sign up for Making Tax Digital before August
16/07/2019 - More...
VAT registered businesses with a...

Will you have to repay Child Benefit for 2018-19?
16/07/2019 - More...
The High Income Child Benefit charge...

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ICO issues notices of intention to fine BA and Marriott
17/07/2019 - More...
Following an extensive investigation, the Information Commissioner’s Office (ICO) has announced that it has issued a notice of its intention to fine British Airways (BA) £183.39 million for infringements of the General Data Protection Regulation (GDPR). If imposed, the fine will be a record amount in the UK for breach of data protection laws. The infringements...

Reminder to sign up for Making Tax Digital before August
16/07/2019 - More...
VAT registered businesses with a turnover above the VAT threshold, need to be ready to keep digital records for VAT purposes using Making Tax Digital (MTD). This means that businesses must keep their records digitally (for VAT purposes only) and provide their VAT return information to HMRC through MTD functional compatible software. Many of the 1.2 million businesses affected...

Will you have to repay Child Benefit for 2018-19?
16/07/2019 - More...
The High Income Child Benefit charge applies to taxpayers whose income exceeds £50,000 in a tax year and who are in receipt of Child Benefit. The charge claws back the financial benefit of receiving Child Benefit either by reducing or removing the benefit entirely. If you or your partner have exceeded the £50,000 threshold for the first time during the last tax...

Be wary of 60% Income Tax charge
16/07/2019 - More...
For high earning taxpayers the personal allowance is gradually reduced by £1 for every £2 of adjusted net income over £100,000 irrespective of age. This means that any taxable receipt that takes income over £100,000 will result in a reduction in personal tax allowances. Your adjusted net income is your total taxable income before any personal...

Tax simplification for self-employed
16/07/2019 - More...
The Office of Tax Simplification (OTS) was established in July 2010 to provide advice to the Chancellor on simplifying the UK tax system. The OTS has recently published a new document setting out the scope of a project looking at simplifying tax reporting and payment arrangements for the self-employed and for landlords of private residential property. The OTS will...

Rules for off-payroll working from April 2020
16/07/2019 - More...
The rules for individuals providing services to the public sector via an intermediary such as a Personal Service Company (PSC) changed from April 2017. The new rules shifted the responsibility for deciding whether the intermediaries’ legislation applies, known as IR35, from the intermediary itself to the public sector receiving the service. In the Autumn Budget 2017 the...

Corporate Capital Loss Restriction
16/07/2019 - More...
Under current rules up to 100% of chargeable gains can be set against carried-forward capital losses. For accounting periods ending on or after 1 April 2020, large companies and unincorporated associations who accrue chargeable capital gains will only be able to offset up to 50% of those gains using carried-forward allowable (capital) losses. The measure is subject to...

Draft legislation for Finance Bill 2019-20
16/07/2019 - More...
The Government has published the draft legislation for Finance Bill 2019-20, along with accompanying explanatory notes, tax information and impact notes, responses to consultations and other supporting documents. The Bill will contain the legislation for some of the tax measures that were announced by the Government at Autumn Budget 2018 many of which have since been the...

Reminder to renew your tax credit claim
16/07/2019 - More...
Families and individuals that receive tax credits should ensure that they renew their tax credit claims by 31 July 2019. Claimants who do not renew on-time may have their payments stopped. HMRC has sent tax credits renewal packs to tax credit claimants and is encouraging recipients to renew their tax credits claim online. All renewal packs should have been received by the end...

Home to work travel that may be allowed
09/07/2019 - More...
Whilst there is usually no tax relief for ordinary commuting - home to work - there are a number of exceptions. The term 'ordinary commuting' is defined to mean travel between a permanent workplace and home, or any other place that is not a workplace. Case law has established the principle that travelling between your home and a permanent workplace is not a travel...

Its still possible to claim 100% tax allowance for electric vehicles
09/07/2019 - More...
First Year Allowances (FYA’s) are available for expenditure on new unused electric vehicles and other cars within the threshold for low CO2 emissions. Businesses can claim FYA of 100% in the year they purchase qualifying low emissions or electrically propelled cars. These measures were put in place to help encourage the use of low emission and zero emission vehicles. The...

When you can’t reclaim VAT
09/07/2019 - More...
For most fully taxable businesses, VAT can be reclaimed on goods and services used in the business. This means that businesses must consider where there is any personal or private use of goods or services purchased for the business as the business can only reclaim the business proportion of the VAT. For example, VAT is recoverable on all the costs of mobile phones provided to...

Disposal of goodwill – capital or income
09/07/2019 - More...
The First-Tier Tribunal (FTT), in the case of Villar v Revenue and Customs examined whether the disposal of goodwill was capital or income in nature. The taxpayer in this case was a renowned orthopaedic surgeon specialising in hip arthroscopic procedures. The taxpayer sold his business in return for a payment of £1m, this payment was treated as capital in nature and a...

OpRA’s defined
09/07/2019 - More...
The Optional Remuneration Arrangements (OpRA) legislation was introduced with effect from 6 April 2017. The legislation counters the tax and NIC advantages of benefits where an employee gives up the right to an amount of earnings in return for a benefit. This includes flexible benefit packages with a cash option, cash allowances and salary sacrifice. The taxable value is now...

Loss buying restrictions
09/07/2019 - More...
Under qualifying circumstances, Corporation Tax (CT) relief is available where your company makes a trading loss. The trading loss can be used by offsetting the loss against other gains or profits of your business in the same or previous accounting period. The loss can also be set against future qualifying trading income. However, there are restrictions on...

Changes to the Employment Allowance
09/07/2019 - More...
It was announced as part of the Autumn Budget 2018 measures that access to the Employment Allowance was to be restricted. From 6 April 2020, the £3,000 NIC Employment Allowance will only be available to employers with employer NIC liabilities of under £100,000 in the previous tax year. Connected employers will have their contributions aggregated for this...

New guidance on cookies published
08/07/2019 - More...
The Information Commissioner's Office (ICO) has published new guidance on the use of cookies and similar technologies, as well as an associated blog. The guidance looks at cookies and similar technologies in detail and it is relevant to any organisations operating online services such as websites or mobile apps. It covers: What cookies and similar technologies...

New cyber security guidance published
30/06/2019 - More...
The National Cyber Security Centre (NCSC) has published guidance to help small to medium sized organisations prepare their response to, and plan their recovery from, a cyber incident. The “Small Business Guide: Response & Recovery” has been produced by the NCSC in response to questions raised by SMEs following the earlier publication of its “Cyber...

Reducing penalties for late disclosure of income
30/06/2019 - More...
You can use the Digital Disclosure Service (DDS), if you need to make a voluntary disclosure of income or other taxable events that have not previously been reported to HMRC. Other current HMRC campaigns that facilitate disclosure by taxpayers, include the Card Transaction Programme - a disclosure opportunity for businesses that accept card payments and have not paid the...

Advising HMRC of changes in your personal details
30/06/2019 - More...
If your personal details change, you may be required to notify HMRC as this can affect your entitlement to certain tax breaks and or benefits. For example, you need to tell HMRC if: you get married or form a civil partnership you divorce, separate or stop living with your husband, wife or partner You can tell HMRC online if you are paid a salary or pension through PAYE....

Hull Office

1 Parliament Street
Hull
East Yorkshire
HU1 2AS
Tel: 01482 224763
Fax: 01482 214874

Pocklington Office

7 Lockwood Court,
Market Place,
Pocklington,
YO42 2QW
Tel: 01759 305165
Fax: 01759 305985

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