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Tax Tips and News
01 June 2019

NIC and termination payments

The National Insurance Contributions Bill was introduced into Parliament on 25 April 2019, containing provisions designed to align the income tax and national insurance contributions (NICs) treatment of termination awards and sporting testimonials, closing a loophole which currently allows effective tax planning.

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Tax Tips and News
01 June 2019

MTD for VAT and petty cash

HMRC have published an updated version of their guidance for businesses on Making Tax Digital for VAT. In particular, the guidance now includes information on how businesses should deal with petty cash transactions.

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Tax Tips and News
01 May 2019

Rent-a-room tax break remains

HMRC’s proposals to omit AirBnB and other short term rentals from the rent-a-room scheme have been shelved. The scheme currently allows individuals to receive up to £7,500 of gross income from renting out spare rooms in their only or main home without a liability to tax.

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Covid-19: We would like to reassure you that we will continue to do everything we can to help our clients in these uncertain times (see more)
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