IHT change of domicile
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It is possible in certain circumstances for an individual to have two domiciles although this is unusual. There is a concept in the UK of deemed...
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Décor and plant and machinery allowances
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Capital Allowances are the deductions which allow businesses to secure tax relief for certain capital expenditure. Capital Allowances are...
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Further change to SEISS 5 legislation
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HM Treasury has published a Correction Treasury Direction made under the Coronavirus Act 2020, section 76, which modifies and extends the effect...
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When is a company dormant for tax purposes?
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If a company has stopped trading and has no other income then the company is usually classed as dormant for Corporation Tax purposes. A company is...
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VAT inclusive and exclusive prices
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When identifying the amount of VAT charged, it is important to distinguish between VAT inclusive and VAT exclusive prices. A VAT inclusive price...
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Pub secures reduced tied rent and discounts
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The Pubs Code Adjudicator is responsible for enforcing the statutory Pubs Code. The Pubs Code regulates the relationship between all pub companies...
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Tax Diary August/September 2021
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1 August 2021 – Due date for Corporation Tax due for the year ended 31 October 2020. 19 August 2021 – PAYE and NIC deductions due for...
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Continuous employment defined
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When a new employee is added to the payroll it is the employers’ responsibility to ensure they meet the employees’ rights. One of the issues...
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Who counts as CIS contractor or sub-contractor?
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The Construction Industry Scheme (CIS) is a set of special rules that affect tax and National Insurance for those working in the construction...
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Turnover defined for 5th SEISS grant
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HMRC has published new guidance to help the self-employed calculate their turnover for making a claim under the 5th Self-Employment Income Support...
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Who pays Inheritance Tax?
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Inheritance Tax (IHT) is commonly collected on a person’s estate when they die but can also be payable during a person’s lifetime on certain...
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Tax-free gains on gifts to spouse or charity
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In most cases, there is no Capital Gains Tax (CGT) to be paid on the transfer of assets to a spouse or civil partner. There is, however, still a...
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