Tax consequences of importing vehicle into the UK
The Notification of Vehicle Arrivals (NOVA) is an online notification system for vehicles entering the country for permanent use on UK roads. There is a separate process for personal imports from
Category: HMRC notices
Can we claim for marketing, entertainment and subscription costs?
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
Benefits of letting furnished holiday property
The furnished holiday let (FHL) rules allow holiday lettings of properties that meet certain conditions to be treated as a trade for some specific tax purposes. The FHL rules currently apply to
Simplified cash basis for unincorporated landlords
The cash basis scheme helps sole traders and other unincorporated businesses benefit from a simpler way of managing their financial affairs. The scheme was extended to landlords from April this year
Autumn Budget 2017 – EIS and VCT scheme changes
As part of the Budget measures, several changes were announced to both the Enterprise Investment Scheme (EIS) and Venture Capital Trusts (VCT) scheme. These schemes are designed to help smaller
Tax implications on divorce or separation
When a couple is separating or divorced it is unlikely that they are thinking about the tax implications. However, as the dust begins to settle it is important that the tax consequences of the
What are overlap profits?
The assessment of self-employed or partnership profits is relatively straight-forward if the accounting date, to which accounts are prepared, falls between 31 March and 5 April. However, year ends
The end of disincorporation relief?
Disincorporation involves the transfer of a business from a private limited company to a sole trader or partnership. Disincorporation relief was introduced from 1 April 2013 and is effectively a form
Furnished holiday lettings
The furnished holiday let (FHL) rules allow holiday lettings of properties that meet certain conditions to be treated as a trade for some specific tax purposes. Individuals, partnerships, trustees and
Advisory fuel rates for company cars
The latest advisory fuel rates became effective on 1 June 2017. Fuel rates are reviewed four times a year with changes taking effect on 1 March, 1 June, 1 September and 1 December. You can use the