There is no requirement for employers to pay tax and National Insurance on certain health benefits covered by tax concessions or exemptions. For example, there is no requirement to report employees’
Tax exempt private medical costs
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Check when to expect reply from HMRC
HMRC has a useful online tool to help agents and taxpayers know when they can expect to receive a reply from HMRC regarding a query or request that they have made. The online tool is updated
Passport delays and applications
A recent investigation by the House of Commons Committee of Public Accounts, in connection with the UK passport office, has found that hundreds of thousands of applicants faced unacceptable delays in
Effects of settlement legislation
The settlement legislation is intended to prevent an individual from gaining a tax advantage by diverting his or her income to another person who is liable at a lower rate of tax or is not liable to
New life sciences growth package announced
The Chancellor, Jeremy Hunt, has announced a new £650 million package of measures to help boost UK life sciences.
The new ‘Life Sci for Growth’ package brings together 10 different policies including
What you can and cannot patent
The GOV.UK website offers the following guidance if you are considering a patent application.
A UK patent may help if you want to take legal action against someone who uses your invention without
Complexity may be double-edged sword
There does seem to be a trend to replace human interactions with automated AI systems. This is especially evident in the management of our tax system.
There was a time, many years ago, when each
HMRC tax credits scam warning
Fraudsters often try to take advantage of the 31 July deadline for submitting tax credits renewal information.
The fraudulent emails, texts or calls claim to be from HMRC and often promise money
Help with childcare costs
HMRC is reminding parents that they may be eligible for Tax-Free Childcare (TFC) to help pay for childcare costs. The scheme was used by almost 650,000 families during the 2022-23 tax year. This
Check text messages from HMRC
HMRC has issued an updated version of their online guidance entitled ‘Check if a text message you’ve received from HMRC is genuine’. The guidance provides a current list of genuine text messages
Using Capital Gains Tax losses
If you sell an asset for less than you paid for it, you would make a capital loss. As a general rule if the asset would have been liable to CGT had a gain taken place, then the loss should be an
What you must tell HMRC
If your personal details change you may be required to notify HMRC as this can affect your entitlement to certain tax breaks and or benefits.
For example, you need to tell HMRC if:
you get married
Tax Diary July/August 2023
1 July 2023 – Due date for corporation tax due for the year ended 30 September 2022.
6 July 2023 – Complete and submit forms P11D return of benefits and expenses and P11D(b) return of Class 1A
Overview of IHT agricultural relief
There are a number of reliefs available that can reduce liability to IHT. Of most interest to farmers is the Agricultural Property Relief (APR). Relief is available at a rate of 100% or 50% depending
Voluntary “give-aways”
In a recent post we warned of the likely loss of billing opportunities if you give away service advice just to demonstrate how informed you are.
In this post we outline when it may be appropriate to
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