HMRC are trying to do something huge. They want everyone with self employed income and property income to report their earnings quarterly. Considering the difficulties of collecting the information annually this is an interesting and very ambitious plan. They recently updated their guidance on who can do what. Three-line accounts If your turnover (income before […]
Category Archives: HMRC and Policy
I was working with a landlord client today getting the final information for their tax return and something strange happened. They told me that they would rather overpay income tax than have HMRC look in to their affairs. Now you might say that is a reasonable approach if you have huge complex affairs and the […]
It’s not your fault. It really isn’t. Tax is simply a topic just like anything else. Why then would it be any easier or harder to get to the bottom of!? No matter what your area of expertise you will likely read the press, watch the TV, read a blog and pick fault with a […]
Forums, socials, magazines. They are all filled with mighty tax and SDLT claims. Most crumble fairly readily under the scrutiny of anyone with any tax knowledge at all but some do make it right through to the tribunal and court systems. I have already talked about the comprehensive list of cases win by HMRC and […]
A strike at HMRC might surprise you. It certainly surprised me! I didn’t know anyone was working over there to go on strike! Joking aside the strike is of a group of about 300 people that work for HMRC vi Fujitsu (yep, I know!). It really shouldn’t make much difference unless they are all in […]
Once your portfolio grows a little you will at some point make a decision to seek out help. Many start with a managing agent, some will get a regular gardener or cleaner and others will take on help with their bookkeeping or other works. It won’t surprise you that tax law has over the years […]
HMRC often struggle to get wins that help a lot of people but they seem to have landed once here. Not directly property related but definitely of use for anyone doing tax returns or looking for help dig out past employment income details for mortgager purposes etc. You can use it to check your: Tax […]
Whatever your belief about Christmas a good proportion of the UK turns off for a couple of weeks over Christmas. It’s quite hard to get anything done if you need to. Nursing a rapidly developing cold I left the office hopeful to shake it off in time to enjoy Christmas Dinner. Just as I was […]
You sit at the computer, logged in to Air B’n’B or similar, and block out a week in May, a couple of weeks in July, a couple in October and the Christmas period. Half a dozen weeks put aside for you and the family to go and stay in your holiday let. You pay all […]
Just a quick reminder that if you are selling a residential property that has a tax liability attached you need to declare the capital gain and pay the tax within 60 days of the date of disposal. Some tips: > As soon as the property is on the market, or certainly as soon as you […]