Tax

28
Jun

Crypto Assets

  Another common question from our clients – are cryptocurrency or crypto asset gains or profits, taxable under Capital Gains Tax? Can you obtain tax relief if you make losses on Bitcoin? In simple terms, gains on transactions in crypto assets are potentially taxable in the same way as other investments. At a glance HMRC has confirmed in its Crypto

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27
Jun

Capital Gains Tax Explained

  Following several questions from our subscribers and clients regarding Capital Gains Tax, below is an ‘At a glance’ guide to Capital Gains Tax reliefs. What are the key Capital Gains Tax reliefs? Who do they apply to? When does Capital Gains Tax apply? What are the rates/bands? What are the exemptions? There are numerous Capital Gains Tax reliefs in

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6
Jun

Capital Gains Tax Vs Stamp Duty?

  A survey on Capital Gains Tax vs. Stamp Duty was recently completed where four in ten people say that stamp duty should be scrapped completely and replaced with a capital gains tax on homeowners’ profits. While it shifts the tax burden from buyers to sellers who have profited from home ownership – this would no doubt be met with

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4
May

Capital Gains Tax Changes

  As discussed when we reported on the Autumn budget announcement, anyone selling a property is affected by changes to the Capital Gains Tax. Previously there was a window of 30 days for taxpayers to report gain and pay tax owed from selling a property.  If the property was sold between 6th April 2020 to 26th October 2021, you would

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7
Jan

HMRC Self Assessment Deadline

HMRC Self Assessment Deadline Extension: Penalties Waived HMRC have announced on 6th January 2022 they are waiving late filing and late payment penalties for Self-Assessment taxpayers for one month this January 2022 – offering you extra time to complete your 2020 to 2021 tax return and pay any tax due. Of course, Robinsons along with HMRC suggest you file and

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5
Jan

Accounting made simple

Accounting can be time consuming – let’s face facts.  With the New Year finally upon us, we’ve taken the opportunity to make a list of small(!) changes we can all make, to help take the strain out of doing business accounts. Designed for freelancers and SME’s, the Robinson’s North London team are on hand to help, all year round, because

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9
Apr

Business support packages for Covid-19

  Chancellor’s business support packages for coronavirus pandemic On 17 March, Chancellor Rishi Sunak unveiled a £330 billion worth of business support packages for the UK economy as it combats the COVID-19 pandemic. The measures dwarf the £12 billion made available in the 2020 Budget. The package includes an increase in government-backed loans, higher cash grants, widened business rates relief

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6
Mar

IFS calls to raise taxes in upcoming Budget

  IFS calls to raise taxes in upcoming Budget The IFS calls to raise taxes in upcoming Budget. The Institute for Fiscal Studies (IFS) has urged Chancellor Rishi Sunak to use the forthcoming Budget to raise taxes. The think tank stated that the Chancellor either needs to raise taxes or ‘break a fiscal rule’ in order to avoid day-to-day spending

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13
Jan

Current list of deliberate tax defaulters

Current list of deliberate tax defaulters HMRC publishes current list of deliberate tax defaulters, those people who have received penalties either for: deliberate errors in their tax returns or deliberately failing to comply with their tax obligations. Internet link: GOV.UK deliberate defaulters   ROBINSONS LONDON ACCOUNTANTS – ACCOUNTING DONE DIFFERENTLY At Robinsons we work hard to understand, communicate, interact, engage and, above

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13
Jan

Self assessment deadline approaching

Self assessment deadline approaching The deadline for submitting your 2018/19 self assessment return is 31 January 2020. The deadline applies to taxpayers who need to complete a tax return and make direct payments to HMRC in respect of their income tax, Classes 2 and 4 National Insurance Contributions (NIC), capital gains tax and High Income Child Benefit Charge liabilities. There

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