Latest guidance for employers
Posted on Tuesday, April 29th, 2025
HMRC has published the latest issue of the Employer Bulletin. The April issue has information on various topics, including: the new rates of the National Minimum Wage reporting expenses and benefits for the tax year ending 5... Read Full Article...
Payment period on residential CGT is doubled
Posted on Wednesday, November 10th, 2021
The government has doubled the period for filing and payment of capital gains tax (CGT) on residential property from 30 days to 60 days. The measure was announced by Chancellor Rishi Sunak in the recent Autumn Budget.... Read Full Article...
Get ready for 30-day returns and payments for residential property gains
Posted on Tuesday, April 14th, 2020
Legislation has been enacted to change reporting obligations for residential property gains chargeable on UK resident individuals, trustees and personal representatives. Also introduced is a requirement to make a payment on account of the associated capital gains... Read Full Article...
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Private Residence Relief changes
Posted on Monday, August 19th, 2019
The government published draft legislation for the next Finance Bill including draft clauses on the changes to Private Residence Relief (PRR). The draft legislation is subject to consultation which closes on 5 September 2019. Following consultation this... Read Full Article...
Parking fines ruled not deductible
Posted on Monday, June 27th, 2016
A tribunal has ruled that security firm G4S cannot reduce its profits for tax purposes by deducting parking fines. The company, G4S Cash Solutions, tried to reduce their corporation tax bill by approximately £580,000 but the first-tier... Read Full Article...
Posted on Monday, June 27th, 2016
Capital gains tax rates The current rates of capital gains tax (CGT) are 18% to the extent that total taxable income does not exceed the basic rate band and 28% thereafter. The government is to reduce the higher... Read Full Article...
Autumn Statement 2015 – key announcements for buy to let landlords and those with second homes
Posted on Monday, December 14th, 2015
Higher SDLT on purchases of additional residential properties Higher rates of SDLT will be charged on purchases of additional residential properties (above £40,000), such as buy to let properties and second homes, from 1 April 2016. The higher... Read Full Article...
Taxing dividends from April 2016
Posted on Monday, October 19th, 2015
In the Summer 2015 Budget, George Osborne announced fundamental changes to the way in which dividends are taxed and HMRC have issued a factsheet setting out examples of how the new regime will work. An extract from... Read Full Article...
Incorporation – restriction of relief for goodwill and Entrepreneurs’ relief
Posted on Tuesday, December 9th, 2014
Corporation tax relief is given to companies when goodwill and intangible assets are recognised in the financial accounts. Relief is normally given on the cost of the asset as the expenditure is written off in accordance with... Read Full Article...
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CGT – Private Residence Relief
Posted on Monday, December 23rd, 2013
It was announced in the Autumn Statement that there will be changes made to the rules for Private Residence Relief. A gain arising on a property which has been an individual’s private residence throughout their period of... Read Full Article...