Last year HMRC carried out a review of "rent a room" relief and it was proposed that the availability of this generous relief would be restricted to situations where the taxpayer was resident for at least part of the time when the “lodger” was paying rent.

Are you aware of the latest tax exemptions? 

Your organisation may have an annual Christmas party for staff, but the tax rules also allow staff parties at other times of the year which are a tax-free benefit if certain conditions are satisfied.

Are you maximising your benefits?

Here are our suggested reimbursement rates for employees' private mileage using their company car from 1st June 2019. Where there has been a change in the previous rate is shown in brackets below.

Here are our suggested reimbursement rates for employees' private mileage using their company car from 1st September 2019. Where there has been a change in the previous rate is shown in brackets below.

Taxpayers have the right to select their own year end and this is no different for barristers. However, which year end you choose can have implications for the amount of tax you are liable for. 

In the latest article from our series of FAQs on Barrister accounts, we look at how your choice of year end could impact you later in your career. 

As part of our series of Barrister FAQs, we’ve looked at a range of accounting issues that are specific to Barrister accounts. This time we focus on pupils and new Barristers.

We understand that when you are new to the Bar, accounting options can be daunting and decisions you make in your early career can have significant implications later on, such as choosing your year end. Our specialist barrister teamcan talk you through your options.

Value Added Tax (VAT) can be complicated if you are a Barrister.

We’ve outlined VAT for Barristers as part of our series of blogs on Barrister accounts, to give you an overview of the options and things to consider. 

For those of you in the construction sector.... your VAT rules have been delayed! 

Read more to see what's happening...

Your business year end, not 5^th April, is relevant for capital allowances purposes. However, if you are running a business and making up accounts to 31^st March or 5^th April, you should consider buying plant and machinery to take advantage of the Annual Investment Allowance (AIA). Read more to find out how you could be entitled to tax relief.

Your business year-end, not 5th April, is relevant for capital allowances purposes. If however you are running a business and making up accounts to 31 March or 5 April you should consider buying plant and machinery to take advantage of the £1 million Annual Investment Allowance (AIA). Read on to find out more...

Currently letting relief provides up to a £40,000 deduction in computing the capital gain on the disposal of a property that was at some time the taxpayer’s main residence.

Read on to see how it works. 

Draft legislation to be included in the next Finance Bill will make important changes to the calculation of CGT private residence relief. 

Read on to find out more. 

Did you know that as a manager of a company, the liability of registering late for VAT can be yours? 

Find out more by reading our latest article below.

Did you know the Chancellor has comission a review of the Loan Charge?

Read on below to find out more.. 

The rules for taxing dividends changed radically from 6 April 2016 with the removal of the 10% notional tax credit and the introduction of new rates of tax on dividends. For many taxpayers there will be more tax to pay on those dividends on 31 January 2018.

Do you know how the rate changes affect you?

It might seem a simple case of doing a few sums but keeping on top of your paperwork takes time and accuracy. It’s not just about processing receipts, sales invoices and expenses and entering them into an online, cloud-based software package such as Xero, it is also about knowing how. For sole traders and the self-employed, 31 January is forever circled on the calendar, for that is the deadline to file a Self-Assessment tax return. 

Are you prepared?

Have you considered other tax efficient investments to maximise your cashflow? If you are looking for investment opportunities, you should absolutely consider the Enterprise Investment Scheme (EIS)...

A new tax year brings with it new challenges for directors of family companies as they consider how best to make tax efficiencies when it comes to paying themselves. Read on for things to consider when extracting profit from your family business.

It’s coming to the end of the tax year, so it is a good time to look at your personal finances and make a plan to maximise benefits from your personal tax allowance, pension contributions and capital gains.

The tax authorities are not known for their leniency; however, the Covid-19 pandemic has hit the world hard and the government has introduced a number of measures to help those who might be struggling as a result. A handful of these measures relate to the filing of self-assessment tax returns and payment of the associated tax bills. Read our latest article below to find out what help is available...