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Tax Chat

HMRC launch growth support service

Tax Chat : 18/10/2017 08:25 : Blog, News, Tax Chat

In a rather strange move HMRC are to launch a Growth Support Service aimed at growing mid-sized businesses.  more »

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Tax Chat

Buy to let Investors – restricting tax relief for interest payable

Tax Chat : 10/10/2017 08:20 : Blog, News, Tax Chat

With effect from 6 April 2017, the tax relief available to buy to let investors on the interest they pay on thier buy to let mortgages is being restricted.  more »

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Tax Chat

HMRC to issue simple assessments

Tax Chat : 04/10/2017 15:25 : Blog, News, Tax Chat

Powers were introduced last year to allow HMRC to issue what they are calling ‘simple assessments’ these are income tax assessments that are not self-assessments!  The first of these will be sent out this week. more »

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Tax Chat

Buy to let property – which expenses reduce my rental income for tax purposes?

Tax Chat : 25/09/2017 14:33 : Blog, News, Tax Chat

Most of the direct costs of running a property rental business can be deducted from your rental income when calculating your taxable profit, but the cost of acquiring the property and any other capital improvements are not deducted. more »

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Tax Chat

I have bought a rental property..what do I report to HMRC?

Tax Chat : 19/09/2017 08:01 : Blog, News, Tax Chat

You have a property rental business for tax purposes when you’ve acquired a property and this is available for letting.  more »

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Tax Chat

Easing the way to employee share ownership…with an EMI scheme

Tax Chat : 11/09/2017 13:42 : Blog, News, Tax Chat

The enterprise management incentive scheme or ‘ EMI’ allows your employees to participate in the future capital growth of your business, without the upfront income tax charge applied when shares are gifted or bought for less than current market value. more »

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Tax Chat

Help…I have received an enquiry letter from HMRC!

Tax Chat : 05/09/2017 08:43 : Blog, News, Tax Chat

First of all don’t panic.  In most cases enquiry letters are designed to focus on a specific area that HMRC are aware of generally and which has led to under declared tax previously.  This may not even apply to you.  more »

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Tax Chat

Employment Allowance – did you claim it?

Tax Chat : 04/09/2017 14:10 : Blog, News, Tax Chat

The employment allowance was introduced from 6 April 2014 to provide some relief to small businesses from the payroll cost of employers class 1 NIC.  more »

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Tax Chat

I have income that I have not declared to HMRC… what should I do?

Tax Chat : 22/08/2017 07:49 : Blog, News, Tax Chat

This depends on the type of income.  HMRC run a series of campaigns designed to make declaring certain types of income easier.  There are currently three campaigns still open.  These cover:

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Tax Chat

HMRC launch help forum for small businesses

Tax Chat : 15/08/2017 07:56 : Blog, News, Tax Chat

HMRC has launched a help forum and webchat service: the ‘Small Business Online Forum’ is aimed at small business. more »

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