Tax on Christmas bonuses

Christmas bonuses or gifts paid in cash by employers to employees are almost invariably taxable as earnings. The Courts have upheld decisions on many occasions and this can mean that a gift from a well-intentioned employer is worth less than the giver or the recipient initially expected. If you are an employer and looking to give a Christmas bonus to …

What taxes do I have to pay if I’ve just arrived in the UK?

Moving between countries, whilst a fantastic and often life-changing experience, can create a huge amount of additional personal administration, not least of which involves ensuring you are complying with all the new local tax legislation. UK tax law is extremely complicated so, understandably it will be impossible to answer this question exhaustively in a short article. Here, we are going …

Inheritance Tax Update

Our last article about Inheritance Tax (IHT) was prompted by the Office for Tax Simplification seeking views and perceptions of Inheritance Tax. The review and subsequent recommendations were far-reaching and can be read in full here, but we thought it would be useful to provide a summary just in case you are for some reason not keen to read an …

Special VAT Schemes

Did you know that there is not just one fixed way to pay VAT? The government has created various schemes via which you can potentially save money on VAT. This week, we will have a look into what they involve and how you might be able to benefit. Standard VAT Accounting Most businesses submit returns and pay VAT on a …

Autumn Budget 2018

The Prime Minister announced at the Conservative Party conference that the end of austerity was in sight. Recent tax revenues have exceeded expectations, and although there was an expectation that these declarations and indicators would herald a relaxation of fiscal policy, the Chancellor is mindful of the potential fallout next year when we leave the EU, with or without a …