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18 Sep

Budget date remains to be confirmed

  • General

The Chancellor Philip Hammond, has stated before the House of Lords Economic Affairs Committee, that he is not yet in a position to announce a date for the Autumn Budget 2018 saying it was 'difficult to fix'. Last year, the Chancellor had used his…

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18 Sep

Help-to-Save scheme launched

  • General

The new Help to Save scheme for people on low incomes was officially opened with effect from 12 September 2018 following an 8-month trial. The new scheme allows those in work entitled to Working Tax Credit, and in receipt of Working Tax Credits or…

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18 Sep

CGT record keeping

  • Capital Gains Tax

The annual Capital Gains Tax (CGT) exemption for individuals is £11,700 for 2018-19. A husband and wife each benefit from a separate exemption. Same-sex couples who acquire a legal status as civil partners are treated in the same way as married…

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18 Sep

Childcare and compensation claims

  • Income Tax

The Tax-Free Childcare Scheme (TFCS) helps support working families with their childcare costs. The scheme provides for a government top-up on parental contributions. For every 80p in the £1 contributed by parents, an additional 20p or 20% is funded…

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18 Sep

Spotless but not tax deductible

  • Income Tax

The First-Tier Tribunal (FTT) recently heard three joined appeals that concerned the availability of tax relief for employee expenses. In each of the cases the expense claims related to the costs incurred cleaning and sanitising working clothes…

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18 Sep

Stamp duty and leasehold property

  • Stamp Duty Land Tax

Stamp Duty Land Tax (SDLT) is payable whether you buy a freehold property, a new or existing leasehold property or a shared ownership property. SDLT has been replaced in Scotland by the Land and Buildings Transaction Tax and in Wales by the Land…

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18 Sep

Accommodation expenses and benefits

  • Employee Benefits

There are special rules for the provision of living accommodation to employees under certain circumstances. In most cases, employees will pay tax on any living accommodation provided by an employer unless they qualify for an exception. However, where…

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18 Sep

Paper Self-Assessment return deadline

  • Income Tax

The 2017-18 tax return deadline for taxpayers who continue to submit paper Self-Assessment returns, is 31 October 2018. Late submission of a Self-Assessment return will become liable to a £100 late filing penalty. The penalty usually applies even if…

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13 Sep

Self-employed Class 2 NIC changes cancelled

  • National Insurance

In a surprise move, the government has announced that, following a lengthy consultation, the planned abolition of Class 2 National Insurance Contributions (NIC) will not take place in the current parliament. The announcement was made in a written…

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13 Sep

Receipts to cover certain expenses to be abolished?

  • Payroll

A new measure to remove the requirement for employers to check receipts for expense claims made by employees using the HMRC benchmark scale rates or overseas scale rates is to be introduced. The change will be included in the Finance Bill 2018-19.…

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13 Sep

How to tell if a tax office email is fraudulent

  • General

HMRC continues to warn taxpayers to be aware of email phishing scams. Phishing emails are used by fraudsters to access recipients' valuable personal details, such as usernames and passwords. Fake email messages can appear to be genuine but clicking…

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13 Sep

CGT Rollover Relief

  • Capital Gains Tax

Capital Gains Tax (CGT) Rollover Relief is a valuable relief that allows for a delay in the payment of CGT on gains when you sell or dispose of certain assets and use all or part of the proceeds to buy new assets. The relief means that the tax on the…

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