VAT on Books and Leaflets
“There is no VAT on printed books, booklets, newspapers and leaflets.” Well there is – it’s zero-rate VAT so the customer pays no VAT but the…
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Let Property Campaign
The taxman has launched another ‘confess your tax sins’ campaign aimed at individuals who have failed to declare rental income they have received from residential…
Read MoreBusiness Journeys
A number of self-employed businesses have been waiting for a tax case to be decided which turned on the question of “what is a business…
Read MoreReal Time Information (RTI) Penalties
HMRC has experienced significant problems in reconciling amounts of PAYE due from employers to the amounts reported under real time information (RTI). As a result…
Read MoreIHT relief on business assets
Inheritance tax (IHT) is payable at 40% on the net value of the assets you own when you die, plus (to a certain extent) on…
Read MoreVAT Penalties
If you pay your VAT late to HMRC, even one day late, your card will be marked for a VAT penalty called a ‘default surcharge’.…
Read MoreNon-Resident Landlords
If you leave the UK and let your property here, your letting agent (or the tenant where there is no agent) should deduct basic rate…
Read MoreCGT on Home Developments
Your main home is exempt from capital gains tax when you sell it, but only if you bought the property with the intention of living…
Read MoreVAT on road fuel – the new flat rate option – UPDATE
We recently told you about changes to the VAT fuel scale charge for non-business journeys which take effect next month. There have now been further…
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