Tax Latest News

Ripped Off By a Crooked Employee? You May Be Entitled to Tax ReliefOctober 6, 2019

Losing money at the hands of a crooked employee is a sadly familiar experience for many businesses, but what are the tax consequences of such...

HMRC Errors Lead to Loss of TaxAugust 13, 2019

Although getting one's tax return right is to be recommended, there are many grey areas in tax and, when HM Revenue and Customs (HMRC) make...

Enabling Tax Non-ComplianceJuly 29, 2019

There are hundreds of thousands of companies in tax havens and the true commercial value added by them is probably trivial, whereas the tax avoided...

Disguised Remuneration Clarification By HMRCJune 26, 2019

An attack by HM Revenue and Customs (HMRC) on 'disguised remuneration' schemes, wherein a director of a company takes money out of the company in...

Company Can Reclaim VAT on Director’s Legal BillsMay 30, 2019

Companies understandably may wish to provide financial as well as moral support to their directors if they are facing litigation. However, the issue of whether...

Tax Articles

Brief Guide to the Administration of Troncs

The long-running series of disputes between employers in the hospitality industry and HM Revenue and Customs (HMRC) concerning the taxation of employees’ tips and their...

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...

Entrepreneur’s Relief – the Basics

From 6 April 2008 disposals of qualifying businesses and business assets have been eligible for Entrepreneurs’ Relief. In simple terms, it allows business owners to reduce...

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...

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...