06Aug
HMRC raises interest rates for late payments
HM Revenue & Customs (HMRC) wasted no time in notifying its intention to raise the rates of late payment interest, following the announcement of the rise in the Bank of […]
Blog
03Aug
HMRC has rolled out its tough new strategy on offshore tax compliance
HMRC has rolled out its tough new strategy on offshore tax compliance. The ‘requirement to correct’ (RTC) imposes a legal requirement on taxpayers to disclose previously undeclared offshore matters; the […]
03Aug
Moving Day
Excitement is in the air today at Magma, as the Leicester team move into their wonderful new offices at Charnwood Edge Business Park. It’s been a long time coming, but […]
27Jul
Furnished holiday lettings – the pros and cons
When furnished holiday property is let on a commercial basis for short periods, the owner can benefit from tax reliefs which wouldn’t otherwise be available to residential landlords, providing certain […]
24Jul
How will Making Tax Digital affect you?
Making Tax Digital is a seriously hot topic with changes coming in from April 2019. VAT-registered businesses with turnover above £85,000 must maintain a digital record of the VAT transactions […]
23Jul
Leicester office move
We are excited to announce that our Leicester team will be moving to more modern and improved offices from Monday 6 August 2018. Whilst the new offices are just a […]
16Jul
Do you know the inheritance tax limits?
According to a recent survey by Canada Life, over two thirds of those whose estates may be liable for inheritance tax (IHT) are unaware of the threshold for the standard […]
13Jul
Holiday let qualifies for business property relief due to ‘exceptional service’
In the case of Executors of Joyce Graham (deceased) vs. HMRC, the First-tier tax tribunal (FTT) has ruled that a holiday letting business qualified for business property relief (BPR) for […]
04Jul
Shorter tax payment window for buy-to-let landlords from 2020
Owners of second homes and buy-to-let landlords are likely to have a shorter period to pay any capital gains tax (CGT) which arises on disposals, under planned changes from 2020. […]
03Jul
Making the most of R&D tax claims
Research & Development (R&D) tax claims are becoming more and more common – HMRC’s own statistics, as well as general noise in the market place, both suggest the same. Yet, […]
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