Tax Refund Scams – What to look out for

Now that the Tax Return season has ended you may receive an email claiming you are due a tax refund. Be aware that it’s a scam to steal your personal details. Criminals are targeting the millions of people who file Self-Assessment Tax Returns online. The fraudsters are sending fake emails purporting to be from HMRC… Continue reading Tax Refund Scams – What to look out for

VAT on building a new home

If you’re building a new home, you may be able to reclaim the VAT back on the materials used, potentially making a lot of difference to the final costs. You can apply for a VAT refund on building materials and services if you’re: building a new home converting a property into a home building a non-profit communal… Continue reading VAT on building a new home

Clause 24 in the Finance Act – Is it affecting you?

We have known for some time that Landlords have been hit hard by recent tax changes: Clause 24 restricting relief for interest; 8% extra capital gains tax; 3% extra stamp duty. Clause 24 of the Finance Act set out restrictions for individuals on claiming loan interest as a cost against property investment income, for individuals… Continue reading Clause 24 in the Finance Act – Is it affecting you?

How do you complete a Monthly CIS Return?

What is CIS? The Construction Industry Scheme is a method of deducting tax from subcontractors in the building sector. Contractors deduct a percentage of the money owed on their payments to subcontractors and pass it over directly to HMRC. The amounts are effectively taxed at source as the sub-contractor does not get the money.  The… Continue reading How do you complete a Monthly CIS Return?