Tax Articles

Guide to IHT and Small Business

Inheritance Tax (IHT) is payable on a deceased person’s estate (exclusing their principal private residence for whaih an extra allowance is available) at 40 per...

Tax Free Perks

The Government has continuously sought to limit the tax free perks that businesses can provide for their employees. However, there are some remaining. Here is...

VAT on Business Assets With Private Use

It is very commom for a smaller business to have assets which have been acquired which are used for both business and private use. Traditionally,...

How to Reclaim Foreign VAT

It is commonly thought that within the EU, recovering VAT on expenditure made whilst abroad is merely a matter of calculating the VAT at the...

Employed or Self-Employed?

Whether you are employed or self-employed makes a substantial difference to how you are taxed and the income tax liabilities of an employed person can...

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Tax News

VAT – ‘Pay Now, Appeal Later’ Rule Receives Supreme Court BlessingOctober 24, 2018

Unless they can show that they would suffer hardship as a result, traders who wish to challenge assessments to VAT are first required to pay,...

Failure to Meet Criteria Means Loss Relief DeniedAugust 23, 2018

There are all sorts of things one can do with trading losses under Corporation Tax (CT), but the fall-back position is that losses can be...

Future Intention Leads to Tax ChargeAugust 2, 2018

The additional rate of Stamp Duty Land Tax (SDLT) is payable on purchases of 'additional dwellings' such as buy-to-let properties. A recent case dealt with the...

Guesswork Not Enough to Create Tax LiabilityMay 31, 2018

When HM Revenue and Customs (HMRC) suspect serious tax evasion, they will normally launch a full-scale tax investigation into the person they suspect. They use many...

Son’s Casual Employment Proves Expensive for DadApril 25, 2018

One area in which problems may not be anticipated is when a family member's status as a 'genuine' employee is disputed by HM Revenue and...

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