Accountancy for growth

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Beware! Latest HMRC Tax Refund Scam

An official warning has been issued to taxpayers about fraudsters who are masquerading as HMRC to trick people into thinking they have received a tax rebate. As HMRC processes genuine tax refunds for the 2017/18 tax year, fraudsters are sending scam messages which claim that taxpayers are entitled to a rebate, and request that they provide […]

2016/17 ISA Allowance and Pensions Update

The current ISA allowance is £15,240, rising to £20,000 for 2017/18. Remember that there is no longer a 50% restriction on the amount that you can invest in a cash ISA; the £15,240 annual limit covers all ISA investments which could be in shares, bonds, cash or certain other investments. Make pension payments before 6 […]

Income Tax not Capital Gains Tax on Property Sale

Finance Act 2016 brought in new rules to ensure that overseas property traders and developers are subject to UK income tax or corporation tax when they dispose of UK properties from 5 July 2016. However the way in which the legislation is drafted may catch some buy-to-let landlords. The new rules treat UK property sales/development […]

New rules for expenses and benefits in kind – Gifts for employees

  From 6 April 2016 new rules were introduced to allow employers to provide their directors and employees with certain “trivial” benefits in kind, tax-free. The new rules are a simplification measure so that certain benefits in kind will not need to be reported to HMRC, as well as being tax free for the employee. […]