The Winter 2017 and Spring & Summer 2018 editions of our newsletters are all now available to view or download on our website. They contain a wealth of interesting and thought provoking articles covering all aspects of taxation. Please don't hesitate to contact us if you need advice regarding your own tax affairs.
Our Autumn 2017 newsletter has interesting and useful articles about the new tax-free childcare initiative, how not to miss out on the capital gains tax private residence relief, and why you shouldn't automatically accept an HMRC penalty. You can read or download it here.
Our Summer newsletter is online now, with useful articles about HMRC penalties, let property mortgage interest and directors' loan accounts.
Our telephone system is temporarily out of action. Engineers are currently working on it and hope to have us back on line later today (Wednesday 7 June).
Update: the problem proved more difficult than anticipated but we believe it is now resolved. If you encounter difficulty in getting through to us by telephone please email firstname.lastname@example.org
Our latest FREE newsletters are now available to view and/or download from our newsletter page.
Please check out our new Tax Briefings page . These are typically one page of A4 long, so don't take long to read, and are designed to highlight some lesser known tax breaks and elephant traps. We will be posting at least one new tax briefing each week from now on so why not bookmark the page and check it out regularly. It might well save you some money!
A number of clients have contacted us recently because they have received emails, apparently from HMRC, telling them that they are entitled to a tax refund. These emails are always scams. If you follow the instructions in them you will end up exposing your computer to a virus or handing over your bank details to a fraudster. HMRC never send such emails, so if you get one just delete it. If you are our client we will make sure you receive any tax refunds you may be entitled to!
Whatever happened to the summer? I don't know about you but I hardly noticed it. Well, hopefully we'll have a mellow, golden autumn with plenty of good walking weather. But just in case it rains, why not go to our newsletter page and download the latest FREE edition. If it raises any issues you need to discuss, you know where to find us!
In his recent budget the Chancellor announced an important change to the way tax relief is given to residential property landlords for repairing or replacing furniture. (Note that this does not apply to furnished holiday lets.) Currently landlords of fully furnished lets can choose to claim 10% of the gross rents as a wear and tear allowance or claim the actual cost of repairing or replacing furniture. Neither relief is available to landlords of properties let partly furnished. With effect from 6 April 2016 the 10% wear and tear allowance will no longer be given but all residential landlords will be able to claim the cost of repairs/renewals regardless of whether their property is let fully or partly furnsihed. OUR ADVICE is that where possible you should defer repairing or replacing furniture until after 6 April 2016.
If you are VAT registered and thinking of buying a new vehicle for your business you need to know whether it is a van or a car. Why? Because you can reclaim the VAT on a van but not on a car. In the case of car derived vans and combi vans it can be difficult to tell which it is. HMRC therefore publish a list showing which they consider are vans and which cars. You can check it here: https://www.gov.uk/government/publications/hm-revenue-and-customs-car-derived-vans-and-combi-vans
If you ever visited our wesite before June 2015 you'll notice that we've given it a complete makeover. The aim has been to give it a fresh new look, make it more user friendly and add new useful features both for our clients and visitors. We'd love your feedback and any suggestions on how we could make it better still. And watch this space for more news & updates!