Tag Archives: Tax Advice

Tax Year End Planning 2021/22

tax year 2022

It’s January and you may have just had the pleasure of paying your tax bill… but have you made use of the tax planning opportunities available to you before the end of the tax year?   Are you making the most of the different types of ISAs available to you […]

Jobs – employment status variations

jobs and employment status

There are so many ways to work that it can sometimes get very confusing. People generally classify two key ways, you work for someone else or you work for yourself, but there are many different classifications of “jobs”. The old 9-5 For many being part of team on the payroll […]

Inheritance Tax Exemptions – Christmas is a time for giving

Inheritance tax exemptions

With Christmas fast approaching you may be stuck for ideas of what to get your nearest and dearest. If the idea of spending a day walking around a busy shopping centre fills you with dread, you may want to consider a cash gift instead. But before you go reaching for […]

Home expenses – tax considerations

Home Expenses

At the start of the pandemic HMRC introduced several tax concessions to provide additional support to employees working from home but what are the tax implications of these additional perks?   In the 2020/21 tax year, as an employee you may have received extra support from your employer to enable […]

Gifts – tax considerations

gift tax issues

There are fewer than 100 days left until Christmas where the season of goodwill, merriment and office parties will creep upon us once more. You may wish to consider the tax liabilities associated with gifts. Many companies view gifts as an ideal means of promoting their business and boosting morale […]

Hospitality sector – promote advance payments for Christmas parties now!

Christmas party VAT

To those of you in the hospitality and tourism sector, you have been enjoying a reduced rate of VAT (5%) since 12 July 2020. This reduced rate applies to most supplies made by hotels, tourist attractions, members’ clubs and most places that host events. It also applies to the food […]

Furnished Holiday Lets Tax Tips

holiday lets tax tips

With less people holidaying overseas the demand for UK holiday lets has soared. They also seem to have taken on a mythical status in the tax world due to some of the more generous ways that the tax system deals with them.  So let’s quickly take a look at some of […]

Divorce – Tax Considerations

Divorce tax

The end of a relationship, particularly divorce is difficult for so many reasons, but you may not realise that divorce and the end of a marriage or civil partnership, could lead to tax complications.   Most people know that transfers of assets between married or civil partnered couples are free […]

Capital Allowances

Capital Allowances

Capital allowances are one of the most complex areas within UK tax legislation. A lot of the rules originally came from case law until the various decisions were legislated within the Capital Allowances Act of 2001. Broadly speaking, capital allowances are a tax-approved form of depreciation.  Whereas accounting principles allow […]

G7 Historic Tax Agreement

G7 tax reform

It is no secret that many governments have struggled to tackle the tax challenges that arise from an increasingly globalised and digital economy.   However, following years of discussion, on 5 June 2021 G7 agreed to back an historic international agreement on a global tax reform, which will push for […]