News

Holiday let property – reminder to check your occupancy stats

10/01/2018 – The Furnished Holiday Let (FHL) rules allow holiday lettings of properties that meet certain conditions to be treated as a trade and therefore qualify for additional tax benefits. In order to qualify as a FHL, the following criteria need to be met: The property must be let on a commercial basis with a view to the realisation of … More...

Who is entitled to claim statutory maternity pay?

10/01/2018 – Employees that are pregnant are eligible to take up to 26 weeks of maternity leave (known as ordinary maternity leave) plus an additional 26 weeks (known as additional maternity leave). This means that an employee can take up to a full year of maternity leave once they give their employers the correct notice. All women employees are … More...

The end of credit card payment surcharges?

10/01/2018 – From 13 January 2018, it will become illegal for any business to charge a fee in addition to the advertised price of a transaction to consumers (widely known as surcharging). For example, a travel company charging more to use a credit card rather than a debit card or cash. This change is being brought about by the introduction of the EU … More...

Basic monthly tasks if you run your own payroll

10/01/2018 – One of the most time-consuming admin tasks associated with the running a small business can be dealing with the payroll. Generally speaking, you can: Run your own in-house payroll, or Hire your accountant to do the work for you. If you operate your own payroll, there are a multitude of tasks that must be completed each tax month. … More...

Can we claim for marketing, entertainment and subscription costs?

10/01/2018 – The self-employed are often concerned if an expense is allowable or not for tax purposes. In this article, we will briefly look at the rules for claiming marketing, entertainment and subscription costs. Most marketing expenses are treated as allowable business expenses. This includes advertising in newspapers or directories, bulk mail … More...

Changes to approved English apprenticeships

08/01/2018 – The Apprenticeships (Miscellaneous Provisions) Regulations 2017, which only apply in relation to England, will come into force on 15 January 2018. The new Regulations: make it a requirement that off-the-job training be provided during the course of an approved English apprenticeship entered into under the Apprenticeships, Skills, … More...

Beware iTunes gift card scam

03/01/2018 – HMRC is warning members of the public of a worrying iTunes gift card scam. The fraudsters are cold calling victims purporting to work for HMRC and warning them that they owe HMRC large amounts of tax which they can only pay off using digital vouchers and gift cards, including those used for Apple’s iTunes Store. Victims are told to go … More...

Staircase tax to be reversed

03/01/2018 – The Government has announced that the business rates anomaly known as the ‘staircase tax’ is to be axed. The 'staircase tax' affects businesses that operate in adjoining units or rooms, but are accessed from a communal lift, corridor or staircase. For example, a business that has offices on two floors of a building that are accessed via a … More...

Relief if you let and then sell your home

03/01/2018 – One of the most often used and valuable of the capital gains tax (CGT) exemptions concerns the sale of the family home. As a general rule there is no CGT on a property which has been used as the main family residence. An investment property which has never been used will not qualify. This relief from CGT is commonly known as private … More...

Fair payment practices for small businesses

03/01/2018 – In October 2017, Paul Uppal (a former Conservative MP and entrepreneur) was appointed to the newly-established post of Small Business Commissioner (SBC) based in Birmingham. At the time, it was estimated that the office of the SBC would be operational by the end of 2017. The SBC is an independent public body and covers the whole of the UK … More...

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