Tax News

Sep 17, 2018

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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Sep 17, 2018

A new workplace right to paid leave for bereaved parents has been officially enshrined in law after the Parental Leave and Pay Bill achieving Royal Assent. The new law, which is expected to come into force in 2020, was welcomed by charities helping...

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Sep 17, 2018

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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Sep 17, 2018

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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Sep 17, 2018

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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Sep 17, 2018

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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Sep 17, 2018

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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Sep 17, 2018

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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Sep 17, 2018

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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Sep 12, 2018

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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