News


Office Opening Times and Links to Government Guidance in England & Wales
20/03/2020
Coronavirus (COVID-19) - our office remains open for the drop off or collection of manual books, Monday to Friday 9am to 5pm. However, we will be holding all future meetings over the phone or internet. Please use the telephone or email to contact us as normal. Stay safe and be well. FOR LATEST GOV.UK guidance to employers and Read more...


New warnings from HMRC re tax fraudsters
25/11/2021
Fraudsters are continuing to target taxpayers with scam emails in advance of the 31 January 2022 deadline for submission of Self-Assessment returns. In fact, over the last year, HMRC received nearly 360,000 reports about bogus tax rebate referrals. A number of these scams purport to tell taxpayers they are due a rebate / refund of tax Read more...


Teesside Freeport open for business
25/11/2021
The first of the English Freeports, Teesside, opened operations on 19 November 2021, and is expected to be followed shortly by Thames and Humber. The Teesside Freeport will be at the forefront of local low carbon sector creating thousands of jobs in green energy. Businesses in Freeport tax sites are able to benefit from tax reliefs Read more...


What is a tax calculation?
25/11/2021
A tax calculation is created by HMRC if you have not paid the right amount of tax. HMRC’s annual reconciliation of PAYE for the tax year 2020-21 is now almost complete. HMRC use salary and pension information to calculate if you have paid the correct amount of tax. The tax calculation is usually generated automatically by HMRC’s computer Read more...


Structures and Buildings Allowance qualifying expenditure
25/11/2021
The Structures and Buildings Allowances (SBA) facilitates tax relief for qualifying capital expenditure on new non-residential structures and buildings. The relief applies to the qualifying costs of building and renovating commercial structures. The relief was introduced in October 2018 at an annual capital allowance rate of 2% on a Read more...


CGT Roll-over Relief
25/11/2021
Business Asset Roll-over Relief is a valuable relief that allows the deferral of Capital Gains Tax (CGT) on gains made when taxpayers sell or dispose of certain assets and use all or part of the proceeds to buy new business assets. The relief means that the tax on the gain of the old asset is postponed. The amount of the gain is Read more...


IHT and domicile
25/11/2021
Domicile is a general legal concept which in basic terms is taken to mean the country where you permanently belong but actually determining domicile status can be complex. HMRC guidance states that domicile cannot be defined precisely, but the concept rests on various basic principles. Although domicile can change, there is generally a Read more...


Tax Diary December 2021/January 2022
21/11/2021
1 December 2021 - Due date for Corporation Tax payable for the year ended 28 February 2021. 19 December 2021 - PAYE and NIC deductions due for month ended 5 December 2021. (If you pay your tax electronically the due date is 22 December 2021). 19 December 2021 - Filing deadline for the CIS300 monthly return for the month ended 5 December Read more...


Mandatory vaccination for frontline health and social care worker
18/11/2021
The government has published its response to its consultation on making COVID-19 vaccination a condition of deployment for frontline workers in health and social care settings in England and has confirmed that it will now bring forward regulations to implement a mandatory COVID-19 vaccination requirement. The regulations will cover all Read more...


A reminder of trivial benefit rules
18/11/2021
We wanted to remind readers of the trivial benefits in kind (BiK) rules. The BiK exemption applies to small non-cash benefits like a bottle of wine, a bouquet of flowers given occasionally to employees, or any other benefit in kind classed as 'trivial' that falls within the exemption. By taking advantage of the exemption employers can Read more...

The latest news on changes in taxation – if you would like to talk about any of this in more depth, please contact us.

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Office 10, Broadaxe Business Park
Presteigne
Powys
LD8 2UH
Phone: 01544 260215
Email: sfh@shousego.co.uk

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