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Search results: 9 article(s) found in year 16, issue 8

SELF-ASSESSMENT

HMRC’s new powers to demand tax

New rules are being introduced to allow HMRC to issue enforceable tax assessments. When will these take effect and in what situations will they be used? More...

PENALTIES

Paying tax late - what’s the worst HMRC can do?

Tough penalties now apply not only if you submit your tax return late but also if you don’t pay what you owe on time. If you anticipate missing a payment deadline what steps can you take to avoid or reduce HMRC’s fine? More...

CORPORATION TAX

Borrow from your company, but avoid the tax charge

If you borrow from your company and don’t repay the debt within a set time it will have to pay extra corporation tax. The good news is there’s a legitimate way to avoid it without repaying the loan. How is it done? More...

CARS

When is a company car not a taxable perk?

Where your company owns a car which you use for business, HMRC will usually treat it as a taxable perk, even if you don’t use it for private journeys. Avoiding the tax charge isn’t straightforward. What steps do you need to take? More...

PROPERTY

The new wear and tear rules

The government has released details of the new tax allowance for landlords who furnish their residential properties. It replaces the old wear and tear allowance, but how does it differ and how should you plan for its introduction? More...

IHT

The transferable IHT nil rate band catch

HMRC keeps a close watch on the deadline for transferring the inheritance tax nil rate band. The trouble is, as one of our subscribers discovered, it doesn’t seem to understand how the deadline applies. What’s the full story? More...

VAT

VAT - what’s changing with energy-saving equipment?

If you supply energy-saving equipment you can charge your customers the reduced rate of VAT. But from August 2016 the standard rate of VAT will apply unless new conditions are met. What are they? More...

TAX RATES

New zero tax rate bands confirmed

SELF-ASSESSMENT

Flood victims - no penalties for late tax returns

Last updated: 07.08.2020

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