Tax Matters

Benefits of Incorporation

Update on Property Tax Reliefs

Hot on the heels of the mortgage interest relief restriction for rental properties comes a new restriction announced in last year’s budget

Help needed with inheritance tax ?

The little known residential nil rate band (RNRB) is an additional IHT nil rate band introduced in 2017 which is available for use when residential property is left to direct descendants.

Too many deadlines

I received a request from a client the other day, who asked me if I would schedule out for him the different filing requirements and deadlines that he needed to be aware of.

Construction Industry Scheme (CIS) – Getting Your Tax Back

If you are self-employed as a subcontractor within the construction industry, your contractors will deduct tax from you when making payment (20% or 30%), unless you have ‘Gross’ status enabling you to be paid in full. This tax is then reclaimed through your tax return.

Crackdown on IR35

Personal Service Companies, where an individual forms a company to provide their expertise, are increasingly coming under the spotlight of HMRC. Tax Director Mary Tierney looks at developments.

Making Tax Digital - what you need to know

As you may know, the government believes that too many businesses struggle with getting their tax right, and ultimately this can result in lost tax revenue.

The new IHT residential nil rate band – something to think about

From April of this year, in addition to the normal nil rate band for inheritance tax purposes (£325k per person), we now have a further nil rate band to consider.

Changes to the Flat Rate VAT Scheme

As of 1st April 2017 if your business is registered for the flat rate scheme you will need to determine if you fall under the new rules announced by Chancellor Philip Hammond in the Autumn Statement, which affect businesses with a low cost base.

Watch out, watch out, there’s a fraudster about

Our Jason Leach looks at the increasing risk of fraud for businesses