Folkes Worton Insight

HMRC employment status service

HMRC’s employment status service can be used to help ascertain if a worker should be classified as employed or self-employed for tax purposes in both the private and public sector. The service

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Folkes Worton Insight

VAT and disaggregation

The artificial separation of businesses is where two or more businesses are split, and each 'separate' entity operates below the VAT registration threshold (currently £85,000). This is

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Folkes Worton Insight

Selling the family heirlooms

There are special rules concerning the payment of Capital Gains Tax (CGT) on the sale of personal possessions also known as 'chattels'. Personal possessions are generally defined as

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Folkes Worton Insight

The tax consequences of social events

The cost of a staff party or other annual entertainment is generally allowed as a deduction for tax purposes. If you meet the various criteria outlined below there is no requirement to report anything

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Folkes Worton Insight

HMRC’s complaint handling process

Taxpayers may find themselves in a position where they need to make a complaint to HMRC. Complaints can relate to many different issues such as unreasonable delays, mistakes and poor treatment by

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Folkes Worton Insight

Gifts with strings attached

The majority of gifts made during a person's life are not subject to tax at the time of the gift. These lifetime transfers are known as 'potentially exempt transfers' or 'PETs'.

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Folkes Worton Insight

When does ATED apply?

The Annual Tax on Enveloped Dwellings (ATED) came into effect from 1 April 2013. The tax applies to certain Non-Natural Persons (NNPs) that own interests in dwellings valued at more than

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