Tax Tips

Subcontractor to Contractor supplies within the construction industry will be subject to Reverse Charge VAT from 1 October 2020.  This applies to a subcontractor supplying services to a contractor (not supplies to an individual or end user business such as an office or hotel).  The subcontractor will continue to raise an invoice but will not […]

Where large or medium-sized organisations are paying workers via personal service companies or agencies they will need to operate new procedures from 6 April 2020. The new rules will apply to partnerships, LLPs and larger charities as well as limited companies. Only those organisations that would be classed as “small” under the Companies Act criteria […]

The Chancellor, Sajid Javid has commissioned a review of the Loan Charge to consider whether the policy is an appropriate way of dealing with disguised remuneration loan schemes used by individuals who entered directly into these schemes to avoid paying tax. The disguised remuneration Loan Charge was introduced to tackle contrived schemes where a person’s […]

It is informative to reflect that “when I were a lad” (a trainee accountant) the letter of the law was all that seemed to matter.  If we could find “a way” of saving tax then ‘yuppie’ smiles all round.  These days context, intention and substance are more important than raw legal documentation.  And quite rightly […]

Work life balance and flexible working benefits may be more valued than some of the more expensive employee benefits offered by some businesses. Google is well known for providing everything from free food to onsite gyms, while Netflix has joined the bandwagon of firms offering unlimited holidays. What these employers demonstrate is that in the […]

The rules for taxing dividends changed radically from 6 April 2016 with the removal of the 10% notional tax credit and the introduction of new rates of tax on dividends. For many taxpayers that means more tax to pay on dividends on 31 January each year. If you are a higher rate taxpayer and received […]

The government has announced that there will be a zero P11d benefit for the drivers of electric cars from 2020/21. This is instead of the 2% scale charge that was originally included in Finance Act 2017 to apply for 2020/21. The legislation for the change will be included in Finance Bill 2020 and it is […]