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What’s happening?

Here you can keep up to date with our latest news, as well as the latest goings-on in the world of accounting.

The Brexit uncertainties continue. To help businesses consider their options HMRC has published more information for UK businesses that buy or sell goods from or to the EU. We have copied in below three specific actions that need to be considered an... Read More

Last week we passed the filing deadline (31 January 2019) for the 2017-18 self assessment tax returns. A surprising number of taxpayers are still content to deal with this annual chore at the last minute. This article sets out a few compelling... Read More

When you purchase a van or other equipment that qualifies for tax relief, the cost of the asset is reduced - for tax purposes - by the amount of any capital allowance you claim. Consequently, if you sell the asset at a later date you will need to co... Read More

According to HMRC, individuals pay Scottish Income Tax if they live in Scotland. Care should be taken when considering the phrase "live in Scotland". In particular, you may also pay Scottish Income Tax if you: - move to or from Scotland, -... Read More

Charities pay VAT on all standard-rated goods and services they buy from VAT-registered businesses. They pay VAT at a reduced rate (5%) or the ‘zero rate’ on some goods and services. Charities pays 5% VAT on fuel and power if they’re for: residenti... Read More

The government has launched a consultation seeking views on new proposals to extend redundancy protection for pregnant women and new parents.As the law currently stands, employees who are placed at risk of redundancy when they are absent on maternity... Read More

I recently spoke with Soldo, a spend management platform that is revolutionising expense management, about adapting and thriving in a tech-enabled world. We discussed the Digital Practice and how it has evolved over the years, the ideal technolog... Read More

As a general rule, there is no Capital Gains Tax (CGT) on a property which has been used wholly as a main family residence. This relief from CGT is commonly known as Private Residence Relief. Conversely, an investment property that has never been us... Read More

The Welsh Government has confirmed that the proposed Welsh Government Budget has been ratified and that the new Welsh rates of Income Tax (WRIT) will be set at 10p for 2019-20. This means that the rates of Income Tax paid by Welsh taxpayers will con... Read More

Two changes to the way Private Residence Relief works are due to come into effect from April 2020. These changes could reduce the amount of CGT relief available on the sale of a private residence. The changes are: Home owners that let all or part o... Read More

There are special rules involving bicycles usually referred to as 'Cycle to Work' arrangements. The Cycle to Work scheme was introduced almost 20 years ago to help promote the use of healthy ways to commute to work using an environmentally friendly... Read More

Most gifts made during a person's life are not subject to tax at the time of the gift. These lifetime transfers are known as 'potentially exempt transfers' or 'PETs'. These gifts or transfers achieve their potential of becoming exempt if the ta... Read More