Latest posts
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HMRC confirms property disposals must be reported twice
HMRC has confirmed that a capital gains tax (CGT) UK property return must still be filed using a paper return rather than via the online UK property account.…
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R&D crackdown on tax relief claims
The Fraud Investigation Service (FIS) at HMRC is cracking down on incorrect, inflated or fraudulent claims. For those following the rules and correct procedures, HMRC clamping down on…
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CGT window extended for divorcing couples
The government has published draft legislation which will give divorcing couples more time to transfer assets without incurring capital gains tax (CGT) charges. From 6 April 2023, married…
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Changes to R&D tax credit claims
Following the review of research and development (R&D) tax reliefs launched at Budget 2021, the government have announced significant new measures which will apply from 1 April 2023.…
Recent posts
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Capital Reduction Demergers – the fashionable way to split
Capital reduction demergers can be a very useful and tax-efficient method for business owners…
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Planning is paramount for employee share schemes
Owner managed businesses operating employee share schemes need to ensure they meet all the…
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Due distance – the new limb of due diligence
Since the Russian invasion of Ukraine, the extent of Russian financial involvement and fund…
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Are tax rules for crypto assets too complex?
Recent HMRC research highlights a lack of understanding from crypto asset investors in relation…
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Are you prepared for a nudge letter?
HMRC have confirmed they intend to send ‘nudge letters’ to certain taxpayers who hold…
More recent posts
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HMRC announce R&D claim delays
HMRC has confirmed that it has halted the payment of some research and development (R&D) tax credits, while it investigates irregularities in claims for the relief. The treasury…
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‘No fault’ divorce – what are the tax implications?
There has been a significant alteration in divorce laws for England and Wales, with a ‘no fault’ divorce now permitting estranged couples to end their marriage without having…
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Recovery Loan Scheme – time’s running out
Businesses affected by the pandemic will need to ensure their Recovery Loan Scheme (RLS) applications are submitted and lender approved by 30 June 2022. What is the Recovery…
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A tax climate suited for employee share ownership?
Amid spiralling living costs, and significant differences between the tax rates on capital gains and income, company share schemes may offer an appealing option both for you and…
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Plastic Packaging Tax: What you need to know
If you manufacture or import 10 or more tonnes of plastic packaging within a 12 month period, you may need to register for plastic packaging tax. What is…
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HMRC continues tax campaign on buy-to-let landlords
£17m was collected by HMRC from buy-to-let landlords in the last year, with the Treasury clamping down on the large amount of unpaid tax in the sector. Thousands…
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Spring Statement 2022 Summary
Chancellor Rishi Sunak has delivered his Spring Statement against a backdrop of rising fuel, energy and food costs. We’ve summarised the headline announcements below: Income tax is to…
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Sunak considers overhaul of ‘generous’ R&D tax credit system
Chancellor Rishi Sunak has suggested SME businesses are not investing enough into Research & Development (R&D) tax credits to make the current system viable. The Chancellor is frustrated…
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HMRC recovering £0 in nearly half of all tax investigations
During the 2020-21 financial year, 47% of investigations by the Treasury resulted in no money being retrieved, rising from 31% the previous year. HMRC investigations resulting in no…