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Latest Posts

  1. Author: JW / / Latest News

    HMRC Advisory Fuel Rates – rates from 1 March 2016

    1 March 2016 – Fuel Only Mileage Rates for Company Cars/Reclaim of VAT on Private Car Mileage

    When an employee is provided with a company car, to avoid a taxable car fuel benefit, fuel must only be provided for business travel.

    To ensure this is the case, two methods are available, the first being preferable:

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  2. Author: JW / / Latest News

    Renewals Basis is back for Buy to Let Landlords

    Following the restriction of tax relief for mortgage interest and the 3% increase in Stamp Duty Land Tax, all is not doom and gloom for buy to let landlords.

    Following on from the consultation this summer, the draft Finance Bill 2016 includes the legislation to reintroduce tax relief for the replacement of furnishings in buy to let properties from 6 April 2016.

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  3. Author: JW / / Latest News

    Proposal to Restrict Tax Relief for Travel Expenses for IR35 Workers

    One of the controversial measures included in the draft Financial Bill 2016 was the proposed restriction of the deduction for travel subsistence expenses incurred by certain workers caught by the IR35 rules. This proposed change was consulted on during summer 2015 and, if enacted, will significantly restrict the tax relief available for those affected.

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  4. Author: JW / / Latest News

    Changes To The Way We Pay Interest

    The Government announced in the 2015 Budget Statement, the introduction of a Personal Savings Allowance and the ending of the Tax Deducted Scheme for interest. This scheme required banks/ building societies to deduct tax from interest paid on deposits, for certain business and personal accounts.

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  5. Author: JW / / Latest News

    Late Tax Return Excuses

    Not everyone managed to file their tax return to HMRC by the 31st January deadline and HMRC have revealed some of the excuses that were used for not meeting the deadline:

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  6. Author: JW / / Latest News

    Self Employed – Are you keeping a mileage log?

    As for most businesses, you probably have a car or van on which you wish to claim tax relief for the capital cost and the expenses.

    As you can only claim the business proportion of the expenses, are you keeping a mileage log to prove the business proportion?

    If not then you should be. This is the only way to defend the amount claimed on your tax return if you receive a query from HMRC.

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  7. Author: JW / / Latest News

    The Living Wage along with Auto Enrolment

    The Living Wage along with Auto Enrolment, are the changes that are really making an impact on employers this year. Yet business owners are still not preparing for the changes or don’t know anything about them.

    The National Living Wage means that many employees will see at least a 50 pence per hour increase to their wages, this will mean a higher wage bill for the employer, also it may have an impact on pension contributions.

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  8. Author: JW / / Latest News

    Latest Fake HMRC email scam

    A new fake ‘HMRC’ email scam is currently being sent out to taxpayers suggesting they have a tax refund.

    Purporting to come from HMRC, the email says the recipient is eligible to receive a tax refund and needs to complete a form to receive this.

    The email comes with an HMRC logo, in the familiar green, but the spelling mistakes, poor layout and wording will probably suggest too many recipients that it is a fake. It also comes from a give-away non-official email address

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  9. Author: JW / / Latest News

    New Year’s Honours List

    We are pleased announce that two of our clients have been honoured with MBE’s in this year’s New Year Honours. Malk Hall of Hall-Fast Industrial Supplies has been recognised for his services to business and Martin Rigley of Lindhurst Engineering has been recognised for his services to business and Innovation. What a fantastic achievement.

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