The Rangers tax case regarding the remuneration of Rangers Football Club employees through an employee benefit trust between the tax years 2001/02 and 2008/09 has been ruled in favour of HMRC by the Supreme Court on 5 July 2017. The case involved a remuneration trust set up by the club under which employees received loans… Read more »
Posts By: ilyas Patel
HMRC To Go Through Those Capitalising On Summer Sports Events
As Wimbledon commences alongside with other summer sporting events, HMRC is looking to scrutinise those who has undeclared income from websites such as Airbnb. The rise of the website Airbnb has provoked opportunities for residents living nearby major sporting events to offer short-term lettings as they seek to capitalise. As a result, HMRC is keen… Read more »
Tax-Free Holidays For Your Family
Your employer can pay for two trips per tax year for your spouse and children when you have to work abroad for a continuous period of at least 60 days without any charge to tax on the costs arising on you. If necessary, you should delay or bring forward a trip to be able to… Read more »
Decrease In Number Of Available Buy-To-Let Properties
People who can’t afford to buy a house have no choice but to rent properties. These alongside the legislative changes in the sector mean that the number of rental properties is decreasing. Scotland has seen the highest fall with a 34.7% decrease in available properties to rent between July 2001 and June 2017 whilst Wales… Read more »
£1.5bn Worth Of Inheritance Tax Collected By HMRC
A record of £1.5bn has been collected by HMRC through inheritance tax receipts this year. In comparison to last year’s collected inheritance of £4.7bn, this is an increase of 9% as a result of growing property tax values and frozen threshold rate of £325,000 since April 2009. From April, a nil-rate band for a family… Read more »
London Landlords Face Highest Costs In UK
London landlords face average costs of £6,535 per property per year excluding mortgage costs and tax or 32% in rental income. This is twice the national average cost for a landlord of £3,632 per year which equates to 34% of incoming rent due to rents being lower than London rent prices. South East landlords have… Read more »
Substantially Reduce Stamp Duty
Multiple Dwellings Relief is a relief you can claim when you buy multiple dwellings. Dwellings are buildings or part of a building that is suitable for use as a single dwelling or is in the process of being constructed for such use.  This relief is not just for purchases for property portfolio but it is also… Read more »
NHS Revises IR35 Guidance for Off-payroll Medics
Due to the dispute over the new payment arrangements, the NHS regulator has revised its guidance on the application of the IR35 tax rule changes for NHS agency staff that includes doctors and nurses. The NHS Improvement Guidance stated that their priority is to help encourage NHS providers to ensure that the agency staff pay… Read more »
‘I Do’ To Wedding Tax Relief
As more and more couples are deciding to live together before getting married, they now tend to request gifts of cash rather than the traditional gifts such as kettles and china tea cups. This is why guests should take advantage of the tax relief available on their gifts to the bride and groom. All or part… Read more »
Manchester United As The Most Valuable Football Club
Manchester United surpassed Real Madrid for the first time in the ranking of Europe’s 32 biggest clubs. It is estimated that the Europa League Champions is worth up to €3.2bn (£2.8bn), making them the first club to surpass the €3bn threshold. Compared last year, Manchester United only ranked equal with Real Madrid. They needed to… Read more »