TAAR gets under the Spotlight
In February 2019 HMRC issued Spotlight 47, aimed at dealing with perceived circumventions of the Targeted Anti-Avoidance Rule (TAAR) introduced in 2016 to tackle tax avoidance using phoenixism. The ICAEW and CIOT recently met HMRC to get a better understanding of the Spotlight.
Home and Dry? Tax increases for property landlords
The changes will impact the Capital Gains Tax position where a property which was formerly the landlord’s home but has also been rented out gets sold.
Tax card 2019/20
For a rundown of the latest tax rates for 2019/20, download our handy tax card. If you would like a hard copy version sent to you, please contact us at firstname.lastname@example.org.
New rules for payslips
Prior to 6 April, it was only employees that had the right to receive an itemised payslip, disclosing not only the amount of monies to be received but also the number of hours worked. This right is, from 6 April extended to all workers.
Myth busting MTD
Even as the deadline for Making Tax Digital approaches, less than one month away, there is still an alarming number of myths and misconceptions regarding MTD which make the implementation process a mind field for most businesses.
When is a dividend not a dividend?
One of the problems for the small business owner is the tendency to treat the family company as a family money-box and anything taken out other than salary is, by default, a dividend.
Is it time to update your worker status?
Tax avoidance and evasion have been hot topics with HMRC over the last few years. As part of their mission to crack down on lost revenues, HMRC has severely tightened up the rules around engaging workers on a self-employed basis.