…a worker doesn’t have a fixed place of work. Therefore those of us who work in the same location each day are unable to claim that those many many hours spent in a car or pressed against a train window count as time on the job. This has been the case since a ...read more
The most significant impact on anyone's tax is arguably their residence status. Concluding on whether a person is UK resident for tax purposes is not easy. It's really difficult, in fact. To make life a little easier, we have summarised below the key points of the residency test: View a higher-resolution version of the infographic here. If you ...read more
The Autumn Statement was released on Wednesday by Chancellor Philip Hammond and, if you listened closely, amongst the doom and gloom that was the forecasts for this country’s post-Brexit economy, you may have heard a number of tax changes being announced. If however you happened to miss the Chancellor’s riveting speech, we have summarized the key points for you below. Companies
The Seed Enterprise Investment Scheme (SEIS) was set up in 2011 by George Osborne to promote new enterprise and entrepreneurship, which in turn would help economic growth. It extends the existing EIS scheme by targeting smaller, higher-risk companies, although it also introduces stricter qualifying requirements. The scheme helps newer startups to appeal more to investors by offering them a couple of ...read more
Applying for a mortgage is one of the more stressful aspects of buying a new house, especially given the changes in the market since the financial crash. Now it appears that the prospects of the self-employed looking to climb up the property ladder have been hampered, following a Financial Conduct Authority (FCA) report that a number of lenders have been ...read more
Thinking about opening a local corner shop? What about a cash and carry? Maybe even a food delivery service? These are a few business ventures you could hope to pursue but they all have one thing in common - you will most likely need a company vehicle to meet business demands. When it comes to HMRC, even the seemingly simplest things ...read more
Online gambling and entertainment company Sportech have recently seen a rise in their share price after winning a major seven year court battle with HMRC. The case originates from the ambiguity of the football pools trade that Sportech runs. This particular gambling trade was extremely popular prior to the introduction of the national lottery, however as the latter offered a ...read more
If you have ever looked in to the rules surrounding reduced- or zero-rate VAT and the building and construction industry (if you haven’t then it is an excellent way of spending a Saturday afternoon), you will have no doubt noticed that it is a veritable rabbit hole of specific situations, qualifying conditions, requirements and exclusions. Therefore I have taken it ...read more
Zero hour contracts can be beneficial to both employees and employers; employees may not be able to commit to a full-time position due to other responsibilities, whilst employers may want the flexibility of having the minimum number of staff working that are needed to cope with varying levels of demand. As a result they are very popular in businesses such ...read more
Bob Dylan once sang (and probably still does) “The Times They Are a-Changin’”, and that’s certainly the case when it comes to how dividend income is taxed. From 6th April 2016, the old and, quite frankly, rather confusing system is being put out to pasture, and a set of new, simpler rules are being introduced. Under the new rules, everyone is ...read more