Insights

Personal Tax

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March 3, 2022

Keeping it in the family – tax-saving salary strategies


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An easy way to reduce a business’s tax bill – and also increase the amount of funds withdrawn from the business – is to put a family member on the

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March 1, 2022

Making tax digital for income tax: be prepared, be very prepared


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Making tax digital (or MTD) is HMRC’s plan to simplify tax reporting, reduce errors, and is another step towards more real-time reporting. MTD is already up and running for VAT,

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February 17, 2022

Business rates loophole on second homes closing


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Owners of holiday lets and second homes in England have been able to avoid council tax by registering their properties as businesses. However, from April 2023, small business rates relief

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February 10, 2022

Focus on tax year-end planning


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With Christmas and New Year behind us, tax year-end planning should now be on your radar. The 2021/22 tax year will end on Tuesday 5 April. This year there is

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January 20, 2022

Don’t forget to include Covid-19 payments on self-assessment returns


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With the 2021 self-assessment tax return deadline on 31 January, HMRC has been busy reminding taxpayers to declare any Covid-19 grant payments they might have received. This is the first

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January 13, 2022

Cryptoassets tax confusion


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HMRC is sending letters to taxpayers who they believe hold cryptoassets, advising them of the potential capital gains tax (CGT) implications and linking to relevant guidance. Many taxpayers will be

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January 10, 2022

Waiving late filing and late payment penalties for Self-Assessment taxpayers


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HM Revenue and Customs (“HMRC”) have recently issued a press release confirming that they will be waiving late filing and late payment penalties for Self-Assessment taxpayers for one month in

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January 4, 2022

When you get nudged do you push back or say you’re sorry?


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People’s reactions to being nudged or jostled in the street vary a lot but there are essentially two kinds of reaction, either to puff up your chest and push back

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