Coronavirus advice

Acas has published new guidance for employers and employees on the coronavirus. The guidance covers: what to do if employees ...
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New advisory fuel rates published

Advisory fuel rates are intended to reflect actual average fuel costs and are updated quarterly. The rates can be used ...
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Meaning of goodwill for CGT purposes

Goodwill is a subject we hear about often but interestingly is rarely mentioned in legislation. In fact, the term 'goodwill' ...
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VAT – the concept of business

The VAT system is policed by HMRC and there are penalties for breaches of the legislation. There are four conditions ...
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Property rental income and bad debt

In most cases, property rental income must be brought into account in the year in which the income was earned, ...
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P9 Notice of Coding form

The P9 Notice of Coding form is used to notify employers of the tax codes to use for employees. HMRC ...
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New £20 note launched

The new £20 note entered into circulation on 20 February 2020 and features the image of the artist JMW Turner ...
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VAT-free shopping

There is a special VAT refund scheme called the VAT Retail Export Scheme or Tax-Free Shopping that allows individuals not ...
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10% reduction in Inheritance Tax rate

If your total assets exceed £325,000 then the excess will usually be subject to Inheritance Tax (IHT) at 40% when ...
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Last chance for pensions relief?

There has been much press speculation that the Government is considering cutting higher rate tax relief for pension contributions in ...
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Tax Diary March/April 2020

1 March 2020 - Due date for Corporation Tax due for the year ended 31 May 2019. 2 March 2020 ...
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Change to the off-payroll working rules

As part of a review into changes to the operation of the off-payroll working rules (IR35), HMRC has announced that ...
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Employer toolkit for EU Settlement Scheme published

Following Brexit, the government has published an updated toolkit for employers on how to support their employees who are EU ...
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A reminder – badges of trade

The 'badges of trade' tests, whilst not conclusive, are used by HMRC to help determine whether an activity is a ...
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IHT tenants in common or joint tenants?

As a general rule, Inheritance Tax (IHT) is collected from a person's estate when they die and can also be ...
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