• Main Residence Relief from Capital Gains Tax

    Main Residence Relief from Capital Gains Tax

    Main residence relief goes back to the introduction of Capital Gains Tax (CGT) in 1965. Contained as it is in just seven sections in the legislation, it has been the subject of a number of decided cases in the Courts – and of a rather greater number of pronouncements on their practice from Her Majesty’s Revenue and Customs (HMRC).
  • Non-UK domiciled individuals

    Non-UK domiciled individuals

    From April 2017 legislation has made substantial changes to the tax regime applying to individuals who are UK resident but whose origins are outside the UK.
  • Reporting Employment-Related Securities and Options to HMRC

    Companies have an obligation to report to HMRC certain transactions involving shares, securities and options, each tax year on an online Employment Related Securities’ (ERS) Return.
  • Forms P11D: Reporting Benefits in Kind to HMRC

    Forms P11D must be completed for all directors and all employees if they receive any benefits in kind or reimbursement of expenses which were not incurred wholly, exclusively and necessarily for business purposes.
  • Budget Summary - Spring 2017

    The Chancellor Philip Hammond presented the last Spring Budget on Wednesday 8 March 2017.
  • Tax Tables - 2017/18

    This document is only available as a pdf.
  • Brexit and VAT

    VAT was introduced into the UK as a condition of joining the European Economic Community (EEC) which has evolved into the European Union (EU). Hypothetically VAT could be abolished if the UK leaves the EU. However, most people consider that an abolition of VAT is so unlikely that it can be discounted as a possibility.
  • Changes to the SRA Accounts Rules and what it means for your legal firm

    On 1 November 2015 v15 of the SRA Accounts Rules 2011 was published bringing about a change in our work as reporting accountants and what we report to the SRA as part of the annual accountants report.
  • New dividend tax rules for 2016

    George Osborne announced changes to the way in which income tax will be paid on dividends from April 2016. Although investors with relatively small amounts of dividend income will be removed from the scope of tax, this is clearly designed to raise taxes, predominately from shareholders extracting profits from owner managed companies (OMCs).
  • Buy-to-let landlords to pay higher tax from 2017

    The summer budget announced a major change to the way that ‘buy-to-let’ rental income will be taxed. From April 2017, landlords of residential property (‘buy –to-let’) will no longer be able to deduct their finance costs from their property income before arriving at their taxable profit.
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