Tax free company car?

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If your company provides you with a company car there is usually a VAT loss and a hefty personal tax bill. This is regardless of whether the car is bought or leased by the company. An exception is electric cars after 6 April 2020. There have been many attempts (published and witnessed by us) to […]

Government u-turn on pension tax for doctors and others?

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The government have recently announced that it would consult on allowing senior NHS staff to select their level of pension accrual at the start of the year, to give them more pension capacity to take on additional work without breaching their annual allowance. The Treasury has also agreed to reconsider the “taper”, which restricts pension […]

IHT relief for businesses and farms

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There is currently a very generous 100% relief from inheritance tax for passing on businesses and farm land during lifetime and on death. The rationale for Business Property Relief (BPR) and Agricultural Property Relief (APR) is to enable businesses to be passed on without the need to sell off assets to pay the IHT due […]

Inheritance Tax to be simplified

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The Office of Tax Simplification (OTS) have undertaken a detailed review of Inheritance Tax (IHT), which is perceived by many as a complicated tax. The government normally takes account of OTS recommendations and their report is likely to lead to future changes to the rules. We will keep you posted as the changes may necessitate […]

Possible changes to CGT private residence relief

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The government is currently consulting on important changes to private residence relief that are likely to be introduced from 6 April 2020. The two possible changes, announced in the Autumn 2018 Budget are: Firstly to limit to just 9 months the period prior to disposal that counts as a period of deemed occupation The second […]

Make school holidays easier with tax-free childcare

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Did you know there is a government scheme available that can help contribute towards childcare costs which may mean fewer of your employees will need time off at the same time this summer. Tax-Free Childcare is a scheme available to working parents with children from 0-11 years and many parents are not taking advantage of […]

HMRC suffers IR35 tribunal defeat

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In a recent IR35 / employment status case a TalkSport presenter was found not to be inside IR35 or acting like an employee because TalkSport did not have sufficient control over the presenters’ work. The tax tribunal also noted that the presenter did not integrate with staff, attend staff meetings or events and had no […]

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