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News Stories

Class 1 NICs zero rate band

  • Posted On: 20 July 2017
Class 1 NICs zero rate band Many director shareholders take a minimum salary and any balance of remuneration as dividends. This tends to reduce National Insurance Contributions (NICs), and in some cases Income Tax. The planning strategy is to pay a salary at a level that

Employed or self-employed?

  • Posted On: 20 July 2017
Employed or self-employed? Working out whether you are an employee or self-employed can be a tricky business and HMRC’s view can sometimes be at odds with status defined under employment law. Clearly, although not always, there are tax and NIC advantages for you and the

Changes to deemed domicile rules

  • Posted On: 20 July 2017
Changes to deemed domicile rules In July 2015, the then Chancellor George Osborne announced a series of reforms to the non-domicile rules. The new rules were due to come into effect from April 2017, but were removed from the cut-back Finance Bill that was rushed through parliament

Gift Aid donations only available to taxpayers

  • Posted On: 20 July 2017
Gift Aid donations only available to taxpayers The Gift Aid scheme is available to all UK taxpayers, but in order to sign up to the Gift Aid scheme when you make a donation, you must be paying UK income tax. There are clear advantages for charities if you make your donation in this way. The

Rangers EBT kicked into touch

  • Posted On: 13 July 2017
Rangers EBT kicked into touch The Supreme Court has ruled in favour of HMRC over a long running tax avoidance case against a former incarnation of Rangers football club (now in liquidation). The case concerned a tax avoidance scheme under which the club paid remuneration to their

Future changes to Corporation Tax?

  • Posted On: 13 July 2017
Future changes to Corporation Tax? The Office of Tax Simplification (OTS) provides independent advice to the government on simplifying the UK tax system, with the objective of reducing compliance burdens on both businesses and individual taxpayers. The OTS operates on a permanent,

Online filing exclusions for 2016-17

  • Posted On: 13 July 2017
Online filing exclusions for 2016-17 HMRC’s list of exclusions from online filing for 2016-17 continues to multiply. The list of exclusions has been updated with the publication of version 4.0 of the document. There are now a total of 32 live exclusions on the list including 5 new

VAT relief on building a new home

  • Posted On: 13 July 2017
VAT relief on building a new home The VAT DIY Housebuilders scheme is a special scheme that enables homeowners building a home to benefit from the special VAT rules that allow the qualifying construction costs of new homes and certain conversion works to be zero-rated. In this way,

Furnished holiday lettings

  • Posted On: 13 July 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 some specific tax purposes. Individuals, partnerships, trustees and companies who let furnished holiday accommodation

Rent-a-room scheme

  • Posted On: 13 July 2017
Rent-a-room scheme The rent-a-room scheme is a set of special rules designed to help homeowners who rent-a-room in their home. The limit increased to a generous £7,500 from 6 April 2016, after remaining stagnant for many years and has remained at the same level for the