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Pre-election publications by HMRC

  • Posted On: 27 April 2017
Pre-election publications by HMRC HMRC has announced via one of their blogs that readers will notice that communication will be much less than normal during the pre-election period which started at midnight on Friday 21 April and the general election on 8 June. These rules have been

Initial launch of Tax-Free Childcare Scheme

  • Posted On: 27 April 2017
Initial launch of Tax-Free Childcare Scheme The new Tax-Free Childcare Scheme (TFCS) is now available to the first tranche of working parents. The scheme has initially been made available to working parents of children that will be aged under 4 on 31 August 2017. Qualifying parents can now

Update on Finance Bill 2017

  • Posted On: 27 April 2017
Update on Finance Bill 2017 Following the Prime Minister’s unexpected announcement that there will be a snap general election on 8 June 2017, Parliament will now be dissolved on 3 May 2017. After this date, no further legislation will be passed until Parliament opens again

Non-Resident Landlords Scheme

  • Posted On: 27 April 2017
Non-Resident Landlords Scheme The Non-Resident Landlord (NRL) Scheme is a special scheme for the UK rental income of Non-Resident Landlords. This includes companies or trustees whose 'usual place of abode' is outside the UK. As a general rule basic rate tax (currently 20%) must

Government recovers Lloyds investment

  • Posted On: 27 April 2017
Government recovers Lloyds investment The government has announced that all of the £20.3 billion invested in Lloyds during the financial crisis has now been recovered. The sale of the latest tranche of shares in the Lloyds Banking Group brings the amount recovered through sales and

Tax Diary May/June 2017

  • Posted On: 21 April 2017
1 May 2017 - Due date for Corporation Tax due for the year ended 31 July 2016. 19 May 2017 - PAYE and NIC deductions due for month ended 5 May 2017. (If you pay your tax electronically the due date is 22 May 2017) 19 May 2017 - Filing deadline for

State Pension age review

  • Posted On: 20 April 2017
State Pension age review In March 2016, John Cridland CBE, the former Director General of the Confederation of British Industry (CBI) was appointed by the government to lead an independent review of the State Pension age. The State Pension age for both men and women is set

Furnished holiday lettings

  • Posted On: 20 April 2017
Furnished holiday lettings The furnished holiday let (FHL) rules allow holiday lettings of properties that meet certain conditions to be treated as a trade for specific tax purposes. Individuals, partnerships, trustees and companies who let furnished holiday accommodation

Prime Minister calls for snap election

  • Posted On: 20 April 2017
Prime Minister calls for snap election In a shock announcement following the Easter weekend the Prime Minister Theresa May declared plans to call a snap election on 8 June. The announcement marked a seismic shift from her earlier declarations that there would be no new elections until

Tax codes for employees

  • Posted On: 20 April 2017
Tax codes for employees The P9X form is used to notify employers of the tax codes to use for employees. The form shows the tax codes to use from 6 April 2017. The basic personal allowance for the tax year starting 6 April 2017 is £11,500 and the tax code for emergency use