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Tax advice

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Introduction

Knowing the important deadlines in the tax year 6 April 2019 to 5 April 2020 will help you to prepare and send off the main forms in good time. You may have a range of obligations for corporation tax, PAYE, self-assessment, VAT, National Insurance contributions (NICs) and th...
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The issue

Any taxpayer who submits a tax return can be selected for an HM Revenue and Customs (HMRC) enquiry at random. Those taxpayers unfortunate enough to be selected may find HMRC’s tax return enquiries rather obtrusive. Is HMRC entitled to see a self-employed taxpayer’s ...
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The cash basis simply takes account of money in and money out – there is no need to worry about debtors and creditors and prepayments and accruals. Income is recognised when received and expenditure is recognised when paid. Since 6 April 2017, the cash basis has been the d...
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PAYE healthcheck

April 26, 2019

Why is a PAYE / NIC healthcheck needed?

A PAYE healthcheck is a review of an employer’s payroll and benefit procedures to ensure that they are delivering the right results in terms of compliance with HMRC’s rules on tax and NIC on employees’ pay, expenses and benefits. It is designed to minimise the risk of ...
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What is IR35?

If you’re not directly employed by your client in a traditional sense, but you use an intermediary (such as a Limited Company) to provide your services, the intermediaries’ legislation – known as ‘IR35’ – may apply to you. Under IR35, you have the burde...
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There are various exemptions, and potential exemptions, which make it possible to make gifts free of inheritance tax. Making tax-free gifts is a useful way to reduce the value of your estate – and ultimately the inheritance tax that may be payable on gifts....
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TAGS
2019-20 Tax YearPayrollEmployment taxIR35DirectorsCompaniesBusinessesProperty taxTax adviceFamily taxPersonal taxInheritance taxBudget 2018
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