Blog Header

The Hutchinson Post

Latest business tips, news and stories from Cornwall's #1 provider of Xero

claim for incorporation relief
Conditions surrounding the claim for Incorporation relief
11th August 2022

Conditions and problems surrounding the claim for Incorporation relief Businesses become companies for a variety of reasons. Not so long ago…

Read More
capital gains tax land and buildings toolkit
Using the capital gains tax land and buildings toolkit
11th August 2022

Using the capital gains tax land and buildings toolkit HMRC produce a number of toolkits which highlight common errors found in…

Read More
buy-to-let tax rules
Different lets, different tax rules
11th August 2022

Different lets, different tax rules From a tax perspective, all lets are not equal, and the rules that apply to furnished…

Read More
private residence relief
What qualifies for private residence relief?
11th August 2022

What qualifies for private residence relief? Private residence relief is a well-known relief but one which is often misunderstood. It applies…

Read More
VAT flat rate scheme
Pros and cons of the VAT flat rate scheme
11th August 2022

Pros and cons of the VAT flat rate scheme The flat rate scheme offers VAT registered traders who meet the eligibility…

Read More
tax-free savings income
Tax-free savings income
5th August 2022

Tax-free savings income There are various ways to enjoy savings income tax-free. However, not all routes are open to all taxpayers…

Read More
approved mileage
Is paying mileage allowances at the approved rate still a good idea?
26th July 2022

Is paying mileage allowances at the approved rate still a good idea? Where an employee uses their own vehicle for business…

Read More
national insurance
National Insurance changes for the self-employed
26th July 2022

National Insurance changes for the self-employed If their profits are high enough, the self-employed pay two classes of National Insurance contribution…

Read More
director loans
Loans to directors – beware of the higher section 455 charge
26th July 2022

Loans to directors – beware of the higher section 455 charge Directors and shareholders in close companies are often able to…

Read More
post-cessation receipts and expenses - tax treatment
Post-cessation receipts and expenses – tax treatment
26th July 2022

Post-cessation receipts and expenses – tax treatment Sometimes a business may have ceased trading but then receives income or incurs expenses…

Read More
What happens if an asset not brought into business immediately
13th July 2022

‘Roll over’ relief – what happens if an asset not brought into business immediately There is usually a capital gains tax…

Read More
adjudicators office
The role of the Adjudicators Office
13th July 2022

The role of the Adjudicators Office  Few taxpayers are aware that the Adjudicators’ Office (AO) exists. The AO was set up…

Read More
Employee Ownership Day!
5th July 2022

The Peloton are excited to announce that, as of the 24th of June 2022, we are officially employee-owned! Going forward all…

Read More
NIC position
NIC position if you are employed and self-employed
22nd June 2022

NIC position if you are employed and self-employed Despite the increase in National Insurance Contributions (NIC) in the April 2022 Spring…

Read More
cryptocurrency
Cryptocurrency – what is a sale – gain or income?
22nd June 2022

Cryptocurrency – what is a sale – gain or income? Cryptocurrencies, such as Bitcoin, are a type of electronic cash; designed…

Read More
tax relief for the expenses of running a property business
Tax relief for the expenses of running a property business
22nd June 2022

Tax relief for the expenses of running a property business In common with other types of business, expenses are unavoidable when…

Read More
Employee Ownership
The Employee Ownership Revolution
22nd June 2022

Meet James James has worked in the coffee industry all his life. Over the past decade he’s built a successful, independent…

Read More
CGT or IHT
CGT or IHT
17th June 2022

CGT or IHT Sometimes there is a choice of which tax to pay and where a person owns an investment property,…

Read More
First-time buyer relief for SDLT and investment property trap
17th June 2022

First-time buyer relief for SDLT and investment property trap First-time buyer relief may reduce the stamp duty land tax (SDLT) that…

Read More
changing accounting date
Should I change my accounting date?
16th June 2022

Should I change my accounting date? In preparation of the introduction of MTD for income tax, which comes into effect from…

Read More
capital expenditure
Plan capital expenditure to benefit from time-limited reliefs
15th June 2022

Plan capital expenditure to benefit from time-limited reliefs Unincorporated businesses and companies planning capital expenditure projects need to be aware of…

Read More
corporation tax - are you associated?
Corporation tax – are you ‘associated’?
15th June 2022

Corporation tax – are you ‘associated’? The corporation tax rules are changing from 1 April 2023, and the amount that a…

Read More
high income child benefit charge
High Income Child Benefit Charge – not just for higher rate taxpayers
15th June 2022

High Income Child Benefit Charge – not just for higher rate taxpayers The High Income Child Benefit Charge (HICBC) is a…

Read More
expense relief for working at home
Relief for homeworking expenses post Covid-19
14th June 2022

Relief for homeworking expenses post Covid-19 The Covid-19 pandemic forced large numbers of employees to work from home for the first…

Read More
distributions of a cessation of a company
Distributions on cessation of a company
14th June 2022

Distributions on cessation of a company Companies cease for various reasons, some closing for the personal reasons of their directors or…

Read More
phoenix companies
‘Pheonix companies’ – distribution treated as income rather than a capital gain in certain conditions
14th June 2022

In a private limited company, it is usual for a director to also be a shareholder. Payments made to shareholders are... Read More
trivial benefits - PAYE
‘Trivial benefits’ – PAYE
14th June 2022

'Trivial benefits' – PAYE Legislation surrounding 'Trivial Benefits' was introduced to save employers from having to report relatively small amounts given... Read More
making use of property losses
Making use of property losses
9th June 2022

Making use of property losses When letting property, the aim is to make a profit. However, as recent years have shown,... Read More
rent-a-room
Can you benefit from rent-a-room?
9th June 2022

Can you benefit from rent-a-room? The rent-a-room scheme allows people to earn rental income tax-free when they let out a furnished... Read More
property income allowance
Making use of the property income allowance
9th June 2022

Making use of the property income allowance The property income allowance allows you to earn a small amount of rental income... Read More