Tax tips and news
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Further MTD guidance published
Newsletter issue - August 2018. In response to calls for additional clarity from businesses and their representatives, HMRC have published further information on Making Tax Digital (MTD) to support them with preparation in the run up to the start of the mandatory MTD VAT service from April 2019. The guidance includes: A new HMRC VAT…Read More
Saving tax with simplified expenses
Newsletter issue - August 2018. Certain sole traders and partnerships may benefit from using HMRC's simplified expenses regime to calculate business expenses for vehicles, working from home and living on the business premises. Currently, businesses can either calculate expenses by working out the actual costs, or use HMRC's published flat rates. HMRC's checker can be…Read More
HMRC update trust registration guidance
Newsletter issue - August 2018. HMRC have updated guidance on registering a client trust to clarify which types of trust must be registered and the deadlines for registering. The online guidance - Register your client's trust - explains how tax agents with client trusts with a tax liability can register online. The guidance has recently…Read More
Finance Bill 2018-19
Newsletter issue - August 2018. Measures to help taxi drivers to buy cleaner vehicles, remove barriers for investment in the oil and gas industry, and tackle tax avoidance using profit fragmentation are just some of the key policies that will be legislated for in the Finance Bill 2018-19, which was published in draft on 6…Read More
August questions and answers
Newsletter issue - August 2018. Q. As a landlord with several rental properties, is there anything I should be considering to help mitigate the impact of the restrictions on mortgage interest relief? A: Restrictions on the amount of income tax relief certain landlords can obtain on residential property finance costs (such as mortgage interest) are…Read More
August 2018 key tax dates
Newsletter issue - August 2018. 2 - Deadline for PAYE settlement agreement for 2017/18 19/22 - PAYE/NIC, student loan and CIS deductions due for month to 5/8/2018Read More