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Business Services  •  Business Tax  •  Personal tax  •  Probate and Inheritance Tax

10 most popular tax blogs of 2018

By RJP LLP on 17 December, 2018

Over the course of the year we’ve published over 40 blogs focusing on important tax issues and how to make the most of tax reliefs available. Here are the 10 most popular with readers in 2018:

 

  1. What expenses can buy to let landlords claim?

The removal of the wear and tear allowance, together with other changes made recently to the tax position of buy to let property, has created quite a lot of confusion over what costs remain tax deductible. This article outlines the types of expenses that can be offset against rental income, with some easy to understand worked examples. Read more

 

  1. What is a Section 431 election?

When shares are being transferred or issued to employees or company directors, it is common practice for the individuals involved to be advised to sign a section 431 election. This is part of the forward tax planning process and is important to have in place. This article explains the reasons for making an election and the potential benefits. Read more

  1. 10 ways to reduce your CGT bill

When you make capital gains on assets you own, you may be required to pay capital gains tax (CGT) at the appropriate rate. CGT rates on all assets with the exception of residential property are now at an all-time low, which has created some very interesting tax planning opportunities.

Before the current tax year ends on 5 April 2019, what could you be doing to make your money work harder and reduce your CGT liabilities? What are some of the best ways to reduce capital gains tax? Read more

 

  1. CGT planning for commercial property investors

Many shareholders personally own their company’s business premises which gives rise to a wide range of tax planning opportunities. If you personally own the premises from which your business is run, it is wise to review your current strategy.

Using common scenarios, this blog highlights the capital gains tax issues and how business owners are affected, suggesting some alternative approaches.  Read more

 

  1. VAT on the provision of storage services

VAT is a notoriously complex aspect of tax compliance and it is easy to fail to appreciate the impact of new legislation. This is proving to be especially true of VAT legislation introduced in 2012, whereby space utilised for the purpose of storage became subject to VAT in its own right, without the option to tax. Read more

 

  1. Clarifying common CIS mistakes for construction companies

HMRC are very focused when it comes to identifying potential tax shortfalls within the construction industry, because in its eyes this sector has a reputation for tax avoidance and non-compliance. It’s the reason why the Construction Industry Scheme (CIS) was originally launched – to ensure construction workers and the companies that use their services pay their share of taxes. However problems exist for both contractors and subcontractors because the CIS rules can be easily misunderstood and difficult to apply. Read more

 

  1. How to benefit from the new IHT relief

The way inheritance tax is calculated on the family home changed on 6 April 2017 with the introduction of an extension to the lifetime exemption for inheritance tax purposes in the form of the main residence nil rate band (RNRB). It will ultimately enable property to the value of £1 million to be passed on without incurring any IHT. This article explains six of the most important conditions to be aware of to ensure you or your family can potentially benefit. Read more

 

  1. Common VAT pitfalls for unregistered businesses

The turnover threshold for VAT registration is £83,000 for the 2017/18 tax year. Whilst it creates additional administration, a lot of smaller businesses consider being VAT registered is advantageous. But there is an opposite side to this argument too. Some business owners do not want to have the hassle of VAT returns, or they may be targeting customers who would prefer not to have to pay VAT. Some businesses try to avoid VAT registration, but this can have pitfalls as this article explains. Read more

 

  1. Importance of a company secretary for private companies

It is easy to overlook the importance of statutory compliance, especially as legislation introduced by the 2006 Companies Act means having a company secretary is optional.  For private companies, having a professional company secretary can be very useful and cost effective. This is because as well as allowing directors to concentrate on what they do best, the company secretary will also ensure the company is actively complying with very strict legal requirements. Read more

 

  1. Tax efficient ways to finance employee training

How to account for the cost of staff training is something we are frequently asked by clients and the answer is never straightforward. There are always a number of factors to consider and the issue of whether tax relief can be claimed, or a course classified as a tax-deductible expense, comes down to what the course actually does for the individual in relation to his or her job role. This article explains how companies can offset the cost of training against their tax bill. Read more

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Payroll Clinic: How to process NICs for older workers  

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All Articles

Business Services

Business Tax

Personal tax

Probate and Inheritance Tax

VAT

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