Posts By: ilyas Patel

Late night travel expenses can be paid to employees without it resulting in a tax or NI bill who are asked to work later than usual and where it causes them problems getting home.  However, working late as a director is deemed part and parcel and you are not ordered to stay late, which bodes the question… Read more »

The long awaited general anti-abuse rule (GAAR) came into force on 6 April.  The general message is that avoiding tax by making the most of the rules is still alright, but taking steps which are artificial or abnormal and are mainly used to escape tax can be caught by the GAAR.  The tax saved can… Read more »

Landlords will no longer be able to send in the bailiffs for unpaid rent from 6 April 2014. A new process, known as the Commercial Rent Arrears Recovery Process (CRAR), will come into effect which will involve giving notice to the tenant, something which a landlord is not required to do at present. This process… Read more »

A Let Property Campaign has been launched by HMRC which is aimed at landlords who let out residential property without paying income tax on the net rents. HMRC is now reviewing Land Registry, Council Tax and other government agency records and will actively pursue anyone who is deliberately ignoring or not understanding the tax rules and… Read more »

The “Patent Box” is a new form of tax relief that has been introduced by the Government for companies who undertake innovation. It will provide an opportunity for those companies who hold patent interests and use them in their business to reduce their UK tax liabilities.  The regime offers a headline 10% tax rate on… Read more »

In the Autumn Statement, Chancellor George Osborne announced a major  package of measures to cut tax avoidance, evasion and tax planning and together, these changes are expected to increase government receipts of £9bn over the next five years. These new measures will focus on working via an agency, avoidance schemes, charity schemes and partnerships. The… Read more »

Under new changes to capital gains tax announced by the Chancellor, foreign property owners will now pay tax on any gains in value on UK properties they own.  Under the current system, only second home owners who are UK residents pay the tax, which is typically levied at 28% on any rise in vale when… Read more »

The vast majority of employers are finding reporting in real time straight forward, but HMRC do recognise that a small proportion of micro employers (nine or fewer employees) and their agents still require more time to adapt. Therefore, HMRC has agreed that existing micro employers (or their agent) who require more time will now have… Read more »

George Osborne said the government would provide additional support to the retail sector through a business rates discount of up to £1,000 in 2014/15 and 2015/16. A new reoccupation relief is to be introduced to help smaller retailers which have been hit “especially hard” by the tough economy. This will be for retail properties (including pubs,… Read more »

George Osborne has revealed the government will expand its Start Up Loan scheme for 2014 to fund a further 50,000 people in setting up businesses. During 2012, the fund is estimated to have supported 10,000 companies. To assist new businesses there will also be a substantial expansion of the New Enterprise Allowance, Enterprise Investment Scheme… Read more »