Latest news

5
Jun

Robinsons partner with We Work

  This summer, as part of our ongoing programme of events and seminars, Robinsons have partnered with We Work, the flexible workspace provider. At a variety of We Work office locations across London, Robinsons have provided a series of drop-in surgeries for start-ups and entrepreneurs to stop in and ask us about their everyday concerns around tax. So for any budding We

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5
Jun

Diary of main tax events June / July 2017

  Date What’s Due 1/06 Corporation tax for year to 31/8/16  (unless pay quarterly) 19/06 PAYE & NIC deductions, and CIS return and tax, for month to 5/6/17 (due 22/06 if you pay electronically) 1/07 Corporation tax for year to 30/9/16  (unless pay quarterly) 5/07 Last date for agreeing PAYE settlement agreements for 2016/17 employee benefits 5/07 Deadline for agents

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5
Jun

Stamp duty on second homes

  Since 1 April 2016 there has been a 3% supplementary Stamp Duty Land Tax (SDLT) charge payable on the purchase of second and subsequent residential properties costing more than £40,000. This was clearly aimed at buy-to-let investors as well as those buying second homes. Note that this additional 3% charge does not apply where the main residence is replaced.

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5
Jun

HMRC computer isn’t always correct

  HM Revenue and Customs have acknowledged that their software and some commercial software used by accountants doesn’t always come up with the right amount of tax payable! You may have seen this reported in some newspapers such as the Daily Telegraph. This arises because the tax system of different income tax personal allowances, dividend allowances, savings rates has become

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5
Jun

Snap election means shorter finance act passed

  The original Finance Bill published after the Spring Budget ran to nearly 700 pages. As a result of the announcement of the General Election on 8th June a significantly shorter Finance Bill was passed with many of the more detailed and more controversial measures being deferred to a later Bill. Whether those measures will reappear after the election will

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5
Jun

Election on 8th June – what’s in the manifestos?

  The decision to call a snap General election on 8th June caught many of us by surprise. The various political parties have been rushing out their manifestos making all sorts of promises if elected. These documents are becoming increasingly important. Bringing in measures contrary to a manifesto, like the increase in Class 4 National Insurance Contributions (NICs) from 9%

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5
May

Diary of main tax events May / June 2017

  Date What’s Due 1/05 Corporation tax for year to 31/07/16 (unless quarterly payments apply) 19/05 PAYE & NIC deductions, and CIS return and tax, for month to 5/5/17 (due 22/05 if you pay electronically) 1/06 Corporation tax for year to 31/8/16  (unless pay quarterly) 19/06 PAYE & NIC deductions, and CIS return and tax, for month to 5/6/17 (due

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5
May

New tax free allowances started on 6 April

  The £5,000 dividend and savings allowance of up to £1,000 have been with us since 6 April 2016. There are now two further allowances available since 6 April 2017. There are concerns that these have not been widely publicised and not properly understood. The first £1,000 allowance is against self-employed income. This is a deduction from gross income so

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5
May

Selling land to a developer – is that trading or a capital gain?

  Farmers and other landowners will often be approached by developers seeking to obtain planning permission to build on the land. Great care is needed to avoid unnecessary tax charges on the transaction. HMRC have recently updated their guidance on transactions in land clarifying that under certain circumstances some of the eventual profit can be taxed as income not a

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5
May

Additional IHT relief for passing on family home started 6 April

  For deaths on or after 6 April 2017 there is now an additional £100,000 inheritance tax (IHT) allowance where the family home is passed on to direct descendants. This was originally announced on 8 July 2015 and that date is relevant where the deceased has downsized to a lower value property. This additional relief increases to £175,000 in 2020,

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