News
HMRC strike causes CIS delays
01/06/2023
Some 400 HMRC helpline service advisers who are members of the Public and Commercial Services (PCS) Union have been on strike intermittingly since 10 May 2023. These strikes are by staff working in HMRC’s East Kilbride and Newcastle offices. The striking workers are with the department of Personal Taxation Operations on Employer Read more...
01/06/2023
Some 400 HMRC helpline service advisers who are members of the Public and Commercial Services (PCS) Union have been on strike intermittingly since 10 May 2023. These strikes are by staff working in HMRC’s East Kilbride and Newcastle offices. The striking workers are with the department of Personal Taxation Operations on Employer Read more...
Help to Save extended to April 2025
01/06/2023
HMRC has confirmed that plans to extend the Help to Save scheme by 18 months, until April 2025 have been confirmed. The Help to Save scheme is intended to help those on low incomes to boost their savings. Eligible users of the scheme can save between £1 and £50 every calendar month and receive a 50% government bonus. The 50% bonus is Read more...
01/06/2023
HMRC has confirmed that plans to extend the Help to Save scheme by 18 months, until April 2025 have been confirmed. The Help to Save scheme is intended to help those on low incomes to boost their savings. Eligible users of the scheme can save between £1 and £50 every calendar month and receive a 50% government bonus. The 50% bonus is Read more...
New employment rights for parents and carers
01/06/2023
Three new pieces of legislation that received cross party support were granted Royal Assent on 24 May 2023. The Neonatal Care (Leave and Pay) Act 2023: This new Act will allow for up to 12 weeks of paid neonatal care leave. This will be made available to employed parents if their new-born is admitted to neonatal care so they can spend Read more...
01/06/2023
Three new pieces of legislation that received cross party support were granted Royal Assent on 24 May 2023. The Neonatal Care (Leave and Pay) Act 2023: This new Act will allow for up to 12 weeks of paid neonatal care leave. This will be made available to employed parents if their new-born is admitted to neonatal care so they can spend Read more...
Selling your home – taxes to pay
01/06/2023
In general, there is no Capital Gains Tax (CGT) on a property which has been used as a main family residence. An investment property which has never been used will not qualify. This relief from CGT is commonly known as private residence relief. Taxpayers are usually entitled to full relief from CGT where all the following conditions are Read more...
01/06/2023
In general, there is no Capital Gains Tax (CGT) on a property which has been used as a main family residence. An investment property which has never been used will not qualify. This relief from CGT is commonly known as private residence relief. Taxpayers are usually entitled to full relief from CGT where all the following conditions are Read more...
Selling all or part of your company
01/06/2023
If you are selling your company, there are important actions you must take to properly finalise your affairs. Please note that this is not an exhaustive list, and it is important to check what else may be required. We have summarised below some of the main steps you need to take if closing your business: Your responsibilities when Read more...
01/06/2023
If you are selling your company, there are important actions you must take to properly finalise your affairs. Please note that this is not an exhaustive list, and it is important to check what else may be required. We have summarised below some of the main steps you need to take if closing your business: Your responsibilities when Read more...
Can a charity claim Gift Aid?
01/06/2023
Charities can claim Gift Aid on donations made by eligible taxpayers. This can boost donations by an extra 25% if the donor makes a Gift Aid Declaration (GAD). To claim Gift Aid, charities need to obtain a Gift Aid declaration from the donor. It should state that the donor: has paid the same amount or more in Income Tax or Capital Read more...
01/06/2023
Charities can claim Gift Aid on donations made by eligible taxpayers. This can boost donations by an extra 25% if the donor makes a Gift Aid Declaration (GAD). To claim Gift Aid, charities need to obtain a Gift Aid declaration from the donor. It should state that the donor: has paid the same amount or more in Income Tax or Capital Read more...
Involuntary “give-aways”
30/05/2023
If you sell services, rather than supply goods, this usually involves you providing advice for a fee. If your advice is sought after, the amount you can charge for your service(s) may be considerable. Which is why you should be wary of giving away your advice FOC. Why would you do this? Why would you part with your hard-won expertise Read more...
30/05/2023
If you sell services, rather than supply goods, this usually involves you providing advice for a fee. If your advice is sought after, the amount you can charge for your service(s) may be considerable. Which is why you should be wary of giving away your advice FOC. Why would you do this? Why would you part with your hard-won expertise Read more...
Claim a tax refund for work expenses
25/05/2023
HMRC has issued a press release to remind employees that may be able to claim a claim tax relief for bills they pay that are related to their employment. The most recent figures show that more than 800,000 taxpayers claimed tax refunds for work expenses during the 2021-22 tax year with an average claim of £125. A claim can be made online Read more...
25/05/2023
HMRC has issued a press release to remind employees that may be able to claim a claim tax relief for bills they pay that are related to their employment. The most recent figures show that more than 800,000 taxpayers claimed tax refunds for work expenses during the 2021-22 tax year with an average claim of £125. A claim can be made online Read more...
New patents service
25/05/2023
The Intellectual Property Office (IPO) is the official UK government body responsible for intellectual property (IP) rights including patents, designs, trade marks and copyright. The process of applying for a patent is set to change significantly over the next 12 months. The IPO has published a transformation document which sets out Read more...
25/05/2023
The Intellectual Property Office (IPO) is the official UK government body responsible for intellectual property (IP) rights including patents, designs, trade marks and copyright. The process of applying for a patent is set to change significantly over the next 12 months. The IPO has published a transformation document which sets out Read more...
Gift aid tax benefits
25/05/2023
The gift aid scheme, which was originally introduced in 1990, allows charities to reclaim from HMRC the basic rate of Income Tax deducted from qualifying donations by UK taxpayers. This means that when a basic rate taxpayer claims gift aid on a £10 donation, the charity can reclaim from HMRC the £2.50 of tax paid on that donation. If you Read more...
25/05/2023
The gift aid scheme, which was originally introduced in 1990, allows charities to reclaim from HMRC the basic rate of Income Tax deducted from qualifying donations by UK taxpayers. This means that when a basic rate taxpayer claims gift aid on a £10 donation, the charity can reclaim from HMRC the £2.50 of tax paid on that donation. If you Read more...
