Limited company expenses – what can you claim for? When running a limited company, you will incur a wide number of limited company expenses during the course of your work,…
Child benefit NI loophole ‘disrupts state pension rights’ More than 200,000 households may be missing out on a full state pension because of changes to child benefit, a parliamentary committee…
HMRC changes guidance for directors’ returns For years we have been irritated by HMRC insisting that all directors must register for self-assessment, even if they have no tax to pay.…
Scottish Budget 2018 Income Tax Changes Finance Secretary Derek Mackay delivered the 2019/20 Scottish Draft Budget on Wednesday 12 December 2018 setting out the Scottish government's financial and tax plans.…
Scottish Budget 2018 Property Tax Changes In the 2019/20 Scottish Draft Budget, Derek Mackay announced changes to Scottish Land and Buildings Transaction Tax (LBTT) which are considered below. The government's…
HMRC Reminder To Employees To Claim Their Tax Deductible Expenses HMRC is reminding employees that they may be able to claim a tax rebate on their work related expenses. HMRC…
Pension Contribution Increases Ahead The Pensions Regulator (TPR) is reminding employers that from 6 April 2019, the amount that will need to be paid into a workplace pension will increase…
HMRC Publish Details Of Deliberate Tax Defaulters HMRC have updated the list of deliberate tax defaulters. The list contains details of taxpayers who have received penalties either for: deliberate errors…
Self Assessment Deadline Approaching The deadline for submitting your 2017/18 self assessment return is 31 January 2019. The deadline applies to taxpayers who need to complete a tax return and…
The Scottish Budget Key Announcements On 12 December 2018 Finance Secretary Derek Mackay delivered the 2019/20 Scottish Draft Budget setting out the Scottish government's tax and financial plans. Key announcements…
Committee Warns Small Businesses 'Could Pay Heavy Price' For MTD The Economic Affairs Committee has warned HMRC that small businesses 'could pay a heavy price' for Making Tax Digital for VAT…
Leaving The EU With No Deal The government has published a collection of documents in preparation for the scenario of the UK leaving the EU without a Withdrawal Agreement a…
180,500 New Homeowners Benefit From Stamp Duty Tax Relief According to statistics published by HMRC more than 180,500 first-time buyers have benefitted from First Time Buyers Relief (FTBR). The relief…
Tax-Free Gifts To Employees Some employers may wish to give a small gift to their employees. As long as the employer meets the relevant conditions, no tax charge will arise…
Advisory Fuel Rates For Company Cars New company car advisory fuel rates have been published which took effect from 1 December 2018. The guidance states: 'You can use the previous rates…
Phishing Tax Refund Email Targets University Students HMRC has warned that university students are being bombarded with fake tax refund emails. The scammers have targeted university students in an attempt…
Inheritance Tax Review By Office Of Tax Simplification The Office of Tax Simplification (OTS) has published the first of two reports on inheritance tax.The first report sets out an explanation…
November NewsletterGW Cox & Co's November Newsletter is now available. This months edition includes information implementing Making Tax Digital for VAT, which comes into effect in April 2019. We will also…
Capital Allowances Changes A number of changes to capital allowances were announced at the Budget, including an increase in the Annual Investment Allowance (AIA), for two years to £1 million,…
Entrepreneurs' Relief Changes The government announced, as part of the Budget, that some changes are being made to the rules for Entrepreneurs' Relief (ER) with immediate effect for disposals on…