HM Revenue & Customs is expected to publish further guidance on when and how IR35 rules will apply during publication of next week’s Budget. It is anticipated that the new approach will lead to more restrictions on contractors and increased IR35 tax investigations. IR35 is a long standing anti-avoidance measure. Many workers, including senior civil … Continue reading A Crackdown On IR35 Expected →

As we approach the end of the tax year then we should remind ourselves of some simple ways of reducing the amount of tax payable. This is particularly important following the recent changes to Child Benefit income qualifications. 1. If you have made a large Capital Gain during the year, and are sitting on a … Continue reading Tax Saving Tips →

The tax office has recently won an important tribunal case concerning Inheritance Tax when it was held in HMRC v Pawson that Business Property Relief was not available on Furnished Holiday Let property. For Income Tax purposes, Furnished Holiday Letting is treated as a trade rather than investment. This compares with income from other forms … Continue reading Inheritance Tax Setback As Business Property Relief Not Available on Furnished Holiday Let Property →

Employee Flat Rate Expenses Allowances People who are employed within certain trades are entitled to claim a flat rate allowance in respect of tools and protective clothing without having to provide receipts or other evidence. Full details are available by clicking on the following link: http://www.hmrc.gov.uk/manuals/eimanual/eim32712.htm Employee Mileage Rates for Travelling in your Employment If … Continue reading Flat Rate Expenses and Employee Motoring Expenses →

WatkinsonBlack accountants attended a meeting held at Culcheth High School in January. The meeting had been arranged between a number of schools within the Warrington area. The purpose of the meeting was to discuss the possibility of the schools joining together to become a cluster of schools who would share the cost of mutual supplies … Continue reading How Schools May Have to Respond to Funding Changes →