Accounting News

IT Consultant Held Contract For Services

IT Consultant Held Contract For Services

HMRC’s application of the IR35 rules remains ambiguous after an IT contractor successfully appealed to the First Tier Tribunal (FTT) against a tax charge arising under the intermediaries' legislation. In RALC Consulting Ltd v HMRC [2019] TC 07474, the FTT allowed...

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Allowable Finance Costs

Allowable Finance Costs

Although the way in which landlords obtain relief for finance costs on residential properties is changing, there is no change to the type finance costs that are eligible for relief. What Qualifies For Relief The basic rule is that relief is available...

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Make Use Of The Capital Gains Tax Inter-Spouse Exemption

Make Use Of The Capital Gains Tax Inter-Spouse Exemption

There are a number of tax concessions available to married couples and civil partners which recognise that their financial affairs may be interlinked. One of these concessions relates the transfer of assets between spouse and civil partner for capital gains...

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Utilising The 2019/20 Dividend Allowance

Utilising The 2019/20 Dividend Allowance

The dividend allowance is quite unusual in that it is available to everyone and everyone has the same allowance. For 2019/20 the allowance is set at £2,000. In common with many allowances, it is a case of use it or...

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VAT Registration – Sooner Or Later?

VAT Registration – Sooner Or Later?

Once a business is up and running, the next major administrative area to be faced often concerns the subject of VAT. At first glance, it looks complicated - not to mention time-consuming - particularly for small businesses. However, taken one...

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When Is A Car A Pool Car?

When Is A Car A Pool Car?

Rather than allocating specific cars to particular employees, some employers find it preferable to operate a carpool and have a number of cars available for use by employees when they need to undertake a business journey. From a tax perspective,...

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Tax-Free Childcare Update

Tax-Free Childcare Update

HMRC have recently run a campaign to remind people that they could be missing out on up to £2,000 per child, per year, towards the cost of childcare. Working parents and guardians may be eligible to receive government top-ups of £2...

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