Using software to make Income Tax updates
The introduction of Making Tax Digital (MTD) will fundamentally change the way businesses, the self-employed and landlords interact with HMRC. The new regime will require
Autumn Budget 2018 – Income Tax Rates & Allowances
The Chancellor has confirmed that from 2019-20 the personal allowance will increase to £12,500 (an increase from the current £11,850 allowance) and the basic rate limit to £37,500.
Self assessment deadline reminder
HMRC has published a news release to remind taxpayers that there is now less than 100 days to file their 2017-18 tax return. Last year over 11 million taxpayers completed a 2016-17
Son’s failed investment in father’s company
A recent Upper Tribunal case examined whether a sole trader operating a skip hire business was entitled to Income Tax relief on irrecoverable loans made to a company. The company
Self-assessment filing deadline
The 2017-18 tax return deadline for taxpayers using a paper self-assessment return is 31 October 2018. Late submission of a self-assessment return will become liable to a £100 late
When do you pay Income Tax?
Income Tax, unsurprisingly, is a tax on income. To be more specific, it is a tax on the income of individuals and non-incorporated businesses. However, there are some types of
Taxpayer wins appeal against filing penalties
The First-Tier Tribunal (FTT) recently heard a taxpayers appeal against penalties imposed for the late filing of his self assessment return in respect of the 2014-15 tax year. The
Childcare and compensation claims
The Tax-Free Childcare Scheme (TFCS) helps support working families with their childcare costs. The scheme provides for a government top-up on parental contributions. For every 80p
Spotless but not tax deductible
The First-Tier Tribunal (FTT) recently heard three joined appeals that concerned the availability of tax relief for employee expenses. In each of the cases the expense claims
Paper Self-Assessment return deadline
The 2017-18 tax return deadline for taxpayers who continue to submit paper Self-Assessment returns, is 31 October 2018. Late submission of a Self-Assessment return will become