Newsletters
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Increasing your tax-free capital gains
The annual capital gains exemption has barely increased in recent years. But in the right circumstances and with some planning you can manufacture your own increase. How’s it done?
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Can you avoid a penalty for a one-off mistake?
You can ask HMRC to suspend a penalty it would otherwise charge if a mistake made in a document, e.g. your tax return, results in an underpayment of tax. But it generally won’t grant a suspension for one-off errors. How can you change its mind?
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VAT and private use of a company van
While generally you don’t permit your employees to use their company vans for private journeys, you allow some leeway while they are working on site. Does this affect the VAT you can reclaim on the cost of the vehicle?
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Avoid MTD non-compliance penalties
Making Tax Digital for VAT is now compulsory for all registered businesses, and you could get fixed or variable penalties for not complying with the regulations. What can you do to ensure that you tick all the relevant boxes?
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How does the residence nil rate band work following a property sale?
Your mother recently died having spent the last couple of years in care. Last year you sold her home to help pay the nursing home fees. When preparing the inheritance tax forms are you entitled to claim the residence nil rate band?
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Beware the tax and NI cost of temporary workers
Summer is here and for many businesses that means taking on temporary workers. Some may stay for the whole season (and beyond) while others just a week or two. What tax tips and traps should you be alert to?
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