Tax Updates

Companies limited by guarantee
What are companies that are limited by guarantee
3rd December 2021

Companies limited by guarantee Companies Limited by Guarantee (CLG) are private companies that do not have shares or shareholders but instead…

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income from properties
Reporting income from property
1st December 2021

Reporting income from property The deadline for filing the 2020/21 self-assessment tax return online is 31 January 2022. If you received…

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Deposits from tenants
Treating deposits from tenants correctly for tax purposes
30th November 2021

Treating deposits from tenants correctly for tax purposes A landlord will normally take a deposit from a tenant when letting a…

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Property Developer Tax
Residential Property Developer Tax
29th November 2021

Residential Property Developer Tax Legislation has been published in draft which will bring a new tax – the Residential Property Developer…

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Covid-19 Tax Suport
Reporting Covid-19 Support Payments on your tax return
29th November 2021

Reporting Covid-19 Support Payments on your tax return If you are self-employed and you received Covid-19 support payments during the pandemic,…

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Increasing the normal minimum pension age
Increasing the normal minimum pension age
23rd November 2021

Increasing the normal minimum pension age The normal minimum pension age (NMPA) is the age at which most pension savers can…

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New reduced rate of VAT for hospitality and leisure
23rd November 2021

New reduced rate of VAT for hospitality and leisure The hospitality and leisure industry were particularly hard hit by the effects…

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Electric charging points – Is there a tax liability?
22nd November 2021

Electric charging points – Is there a tax liability? As part of the Government’s push to encourage drivers to ‘go electric’,…

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Register for Child Benefit even if the HICBC applies
18th November 2021

Register for Child Benefit even if the HICBC applies If you are responsible for bringing up a child who is under…

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CIS – how to work out whether it applies – practical problems on submission. Penalties
18th November 2021

CIS – how to work out whether it applies – practical problems on submission. Penalties The Construction Industry Scheme (CIS) requires registration…

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Different ways of deferring CGT by selling or gifting a business asset – hold over relief, roll over relief etc.
15th November 2021

Different ways of deferring CGT by selling or gifting a business asset – hold over relief, roll over relief etc. Capital…

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‘Bed and breakfasting rules’ – Directors loan account – borrowing, repaying and then borrowing again – ‘arrangements’
15th November 2021

‘Bed and breakfasting rules’ – Directors loan account – borrowing, repaying and then borrowing again – ‘arrangements’ Throughout an accounting period…

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