Scottish Budget 2018 income tax changes
January 2019
Finance Secretary Derek Mackay delivered the 2019/20 Scottish Draft Budget on Wednesday 12 December 2018 setting out the Scottish government's financial and tax plans. The announcement had been timed to…
Scottish Budget 2018 property tax changes
January 2019
In the 2019/20 Scottish Draft Budget, Derek Mackay announced changes to Scottish Land and Buildings Transaction Tax (LBTT) which are considered below. The government's stated policy priority for residential Land…
HMRC reminder to employees to claim their tax deductible expenses
January 2019
HMRC is reminding employees that they may be able to claim a tax rebate on their work related expenses. HMRC estimate that millions of employees, particularly those working in the…
Pension contribution increases ahead
January 2019
The Pensions Regulator (TPR) is reminding employers that from 6 April 2019, the amount that will need to be paid into a workplace pension will increase to an overall minimum…
HMRC publish details of deliberate tax defaulters
January 2019
HMRC have updated the list of deliberate tax defaulters. The list contains details of taxpayers who have received penalties either for: deliberate errors in their tax returns deliberately failing to…
Self assessment deadline approaching
January 2019
The deadline for submitting your 2017/18 self assessment return is 31 January 2019. The deadline applies to taxpayers who need to complete a tax return and make direct payments to…
The Scottish Budget key announcements
December 2018
On 12 December 2018 Finance Secretary Derek Mackay delivered the 2019/20 Scottish Draft Budget setting out the Scottish government's tax and financial plans. Key announcements included new bands for Scottish…
Committee warns small businesses 'could pay heavy price' for MTD
December 2018
The Economic Affairs Committee has warned HMRC that small businesses 'could pay a heavy price' for Making Tax Digital for VAT (MTDfV). The Committee stated that HMRC has'failed to adequately…
Leaving the EU with no deal
December 2018
The government has published a collection of documents in preparation for the scenario of the UK leaving the EU without a Withdrawal Agreement a so called 'no deal' Brexit. The…
180,500 new homeowners benefit from stamp duty tax relief
December 2018
According to statistics published by HMRC more than 180,500 first-time buyers have benefitted from First Time Buyers Relief (FTBR). The relief introduced in November 2017 has saved eligible first-time buyers…
Tax-free gifts to employees
December 2018
Some employers may wish to give a small gift to their employees. As long as the employer meets the relevant conditions, no tax charge will arise on the employee. A…
Advisory fuel rates for company cars
December 2018
New company car advisory fuel rates have been published which took effect from 1 December 2018. The guidance states: 'You can use the previous rates for up to one month…
Phishing tax refund email targets university students
December 2018
HMRC has warned that university students are being bombarded with fake tax refund emails. The scammers have targeted university students in an attempt to steal their banking and personal details…
Inheritance Tax Review by Office of Tax Simplification
December 2018
The Office of Tax Simplification (OTS) has published the first of two reports on inheritance tax. The first report sets out an explanation of the issues and complexities of IHT,…