Tax Guide’s Personal Tax section offers news and features to inform and guide you through all your personal and family tax needs. The Business Tax section offers insight and guidance for all the self-employed or small business owner needs to organise all their tax requirements.
Business Tax
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Business Tax
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Off-payroll legislation and loan charge set to devastate UK plc
The loan charge and off-payroll legislation continue to cause concern - that damage done in the public sector will role into the private one.
On payroll solution the only option for many contractors
On payroll is becoming a common response to the IR35 problem. In recent weeks several major banks have reportedly told contractors that they will only employ them as ‘on-payroll’ from next year as they prepare for the IR35 rules which will apply to the private sector from April 2020. Susan Ball (pictured) of accountants RSM explains.
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Tax on UK property owned overseas – warning not to ignore HMRC
Following letters HMRC wrote to individual taxpayers in relation to information held about overseas income or gains earlier this year, it is now sending letters regarding tax on UK property owned overseas.
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Personal Tax
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Donating to charity and what the tax benefits can be
Donating to charity is often the choice for individuals rather than leaving their wealth to their family. There are tax efficiencies in doing so.
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Property tax changes guide will help you through the maze
Property tax changes over the seven years from April 2013 to April 2020 mean that the taxation of individuals in respect of their property interests in Great Britain will have changed out of all recognition. Rachel de Souza and George Bull (pictured) of accountants RSM review the most significant changes
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Personal Tax
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Income Tax threshold levels fail lower paid
In the Autumn Budget Statement there was good news for income tax it appeared. It had been widely speculated on that promised rises in allowances would not go ahead. Yet on the day it has been announced that the personal allowance threshold for income tax and the higher rate threshold are both to be raised from April 2019 to £12,500 and £50,000 respectively (from £11,850 and £46,350).
Business Tax
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TAX ADVISER OF THE MONTH: Tim Humphries, Menzies
What Investment’s Tax Adviser of the Month is Tim Humphries, corporate tax director at Menzies
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VAT return software problems and how to tackle them
Businesses, the self-employed and individuals with VAT return software problems could apply to HMRC for exemption, but it won’t be easy
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Cross border trading risks and how businesses can deal with them
Understanding the sort of challenges businesses, that investors hold within their portfolios, need to contend with and how they tackle them, can be a helpful exercise. Nick Farmer (pictured) of accountancy firm Menzies LLP explains cross border trading
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Personal Tax
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TAX ADVISER OF THE MONTH: Mark Taylor, Duncan & Toplis
Tax Guide’s Tax Adviser of the Month is Mark Taylor, director and head of tax advisory services at Duncan & Toplis
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The cost of dying is increasing so plan to mitigate the tax element
The cost of dying is a contentious issue, especially the tax cost. Loved ones are those left to tackle the costs but there are ways to mitigate those, as Jackie Hall at accountants RSM explains
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Principal Private Residence relief changes could hit self-builders most
HMRC has closed its consultation on the proposed reforms to tax reliefs available when selling your main residence, in particular Principal Private Residence relief. Whilst self-build projects are an important part of the government’s housing strategy, they may be amongst those worst hit by the proposed new rules. Chris Etherington (pictured) of RSM explains
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