News & views

Have you checked your personal tax account recently? If at all? 

Latest research from the Post Office shows that 46% of UK workers have never checked their personal tax account.
 

Important dates for your tax diary below. 

If you employ students to manage your staff needs over the summer break period, you will need to add them to your payroll and apply PAYE and NIC rules.

It is possible to make small tax-free payments to employees, including directors, and this might be an appropriate time to make a small tax-free bonus in advance of the annual holidays.

As we are approaching the annual holiday season it would seem to be a suitable time to set out employees’ rights to receive holiday pay.

There is a number of tax incentives that you can take advantage of if you own and let a Furnished Holiday Lets property (FHL). They include:

• You can claim Capital Gains Tax reliefs for traders (Business Asset Rollover Relief, Entrepreneurs’ Relief, relief for gifts of business assets and relief for loans to traders),

HMRC have recently confirmed they are going ahead with higher VAT rates for installations of a number of renewable and sustainable energy sources, including biomass boilers and solar panels.

Moore Stephens trainee Andrew Leighton has been awarded the Fleming Birch prize by the ICAEW for achieving top marks in the region in his ACA accountancy exams. 

Duncan Swift, Corporate Advisory Services Partner and Head of the Food Advisory Group at Moore Stephens, has been appointed president of insolvency and restructuring trade body R3.

The 2019/20 tax year started on the 6th April and contains a number of changes which buy-to-let landlords should be aware of for the year ahead.