Self-Assessment Penalties

February 06, 2019 | by Sian Kelly | No comments

Based on recent years HMRC will potentially issue at least 1 million late filing penalties.  It is important to be ahead of the game in terms of advising clients who have failed to meet the filing obligation and to be able to address disputes with HMRC.


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Year-end tax planning tips

February 05, 2019 | by Sian Kelly | No comments

As the end of the 2018/19 tax year approaches, it is worthwhile taking time for some last-minute tax planning. Here are some simple tips that may save you money.

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Take advantage of the Annual Investment Allowance

February 04, 2019 | by Sian Kelly | No comments

The annual investment allowance (AIA) allows businesses to obtain an immediate deduction against profits for capital expenditure up to the limit of the allowance.

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Pass on your house free of IHT

December 04, 2018 | by Sian Kelly | No comments

The introduction of the residence nil rate band (RNRB) opens up the possibility of leaving the family home to successive generations without triggering an inheritance tax charge. It is available for deaths on or after 6 April 2017.

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Setting up a new business?  Claim a deduction for pre-trading expenses

November 27, 2018 | by Sian Kelly | No comments

As a general rule, a deduction is allowed for expenses that are incurred wholly and exclusively for the purpose of the trade. Thus, for the deduction to be available, the business must have started trading.

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Is the Christmas party tax-free?

November 19, 2018 | by Sian Kelly | No comments

Although the tax legislation contains an exemption to prevent employees from suffering a benefit-in-kind tax charge on the staff Christmas party, the exemption is limited in scope and application. It is unwise to assume that there will be no tax to pay – without proper planning, an unwanted tax charge may accompany the post-party hangover.

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