Author Archives: Stephen Relf

Free calculator for foster parents Leave a comment Read more »

Free calculator for foster parents

We have a number of clients who are foster parents and so we understand how difficult it can be for foster carers to calculate their tax liabilities. Briefly, foster parents have an exempt amount for each year which is calculated, in part, by reference to…


The NICs Employment Allowance and one-man-band companies Leave a comment Read more »

The NICs Employment Allowance and one-man-band companies

Since April 2014, employers have enjoyed a reduction of up to £2,000 in their NICs bills. This is known as the Employment Allowance and, for many companies, it means that no Secondary Class 1 NICs are payable. From April 2016, the maximum amount of the employment…


Alert! Charities with trading subsidiaries Leave a comment Read more »

Alert! Charities with trading subsidiaries

It is common for a charity to set up a subsidiary to carry on its trading activities. This is done for a number of reasons, including to secure a tax advantage. However, it is not tax avoidance: the principle of using a trading subsidiary is…


Changes to the Employment Allowance Leave a comment Read more »

Changes to the Employment Allowance

Currently, most employers can claim a deduction against their National Insurance Contributions (NICs) bills up to a maximum of £2,000 for the tax year. Note that the deduction is against the employer’s own NICs bill; not against the NICs it deducts from the payments it makes to its…


Applause for the OTS! Leave a comment Read more »

Applause for the OTS!

Back in 2010, the then Coalition Government set up the Office of Tax Simplification (OTS) to investigate options for making the UK’s tax rules simpler. The OTS has acheived a lot in the last five years but there is still much to do. Next on the…


Some words of wisdom for HMRC Leave a comment Read more »

Some words of wisdom for HMRC

Would you like more contact with HMRC? Probably not as for most of us a call or letter from HMRC means additional work and stress. And yet we could all have to deal with HMRC a lot more in the future if HMRC get their…


The new rules for taxing dividends Leave a comment Read more »

The new rules for taxing dividends

Just over a month ago, George Osborne announced that from April 2016 new rules will apply for the taxation of dividends. Details were fairly sketchy at that time but, with the publication by HMRC of a helpful factsheet, we now know a little more, as set…


All worn out: the end of the Wear and Tear allowance for landlords Leave a comment Read more »

All worn out: the end of the Wear and Tear allowance for landlords

At Summer Budget 2015, George Osborne announced that the Wear and Tear Allowance for landlords would be replaced with a new tax relief from April 2016 onwards. Following the publication of a consultation document by HMRC, we now have a better idea of how the…


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