Craig Simpson, Tax Partner at Bates Weston draws attention to the dangers of paying wages to relatives.A recent First Tier Tribunal Case finds that wages paid by a self-employed individual to his son were not deductible for tax purposes. The case of Nicholson v...
When a system is so complex, that it defeats HMRC’s own online system and they resort to asking you to submit your return on paper, alarm bells should be ringing.Graham Buckell, Bates Weston tax partner, sheds some light on the complex interactions between allowances...
Year end tax review 2017/18The key to minimising your tax bill is planning ahead and working with your advisors to make sure they understand your plans, both in the short and the long term. If your personal or business circumstances are changing, if you are thinking...
Childcare VouchersUsing Government childcare vouchers to pay for childcare can save parent thousands of pounds a year. The scheme is operated by employers and allows childcare to be paid for from pre-tax salary. Basic rate taxpayers can buy up to £55/week voucher,...
HMRC Settlements on EBTs are back on the tableRichard Coombs reminds advisors to encourage clients to settle their historic EBT liabilities before April 2019 . Employee Benefit Trusts seem to be permanently in the news these days and the recent “Paradise Papers” leak...
If your property income is less than £1,000 there is probably no need to report it to HMRC.There are exceptions and Graham Buckell takes us through the traps. "In the Budget 2016 the Chancellor announced two new exemptions for casual trading and property businesses to...
R&D tax relief still under-claimedEvery year HMRC publish statistics about the take-up of the very generous Research & Development tax credit regime and this year’s review has yet again illustrated that the relief is often underclaimed. It seems that many companies...
The difference between a company car and a van is not just aesthetic or practical, it has an impact on your tax bill.
The Finance Bill 2017 proposes HMRC powers to introduce regulations for businesses with turnover above the VAT threshold to keep records digitally (for VAT purposes only) and to submit VAT info to HMRC through MTD compatible software from April 2019.MTD will also be...
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