As you may well know the TW team are planning on tackling The Yorkshire Three Peaks on Saturday 14th September. They will start and finish this circular walk at the Pen-y-ghent Cafe, Horton-in-Ribblesdale, aiming to complete all three peaks in only 12 hours. This is no easy challenge and we have a great team taking part.… Continue reading Team Training is Going Well
So, we already knew about some of the announcements before the chancellor, the Rt. Hon. Philip Hammond MP, spoke yesterday, so much so he even made a joke about toilets and leaks. As ever there was good news and bad news for taxpayers, a full summary is on our website but here are some good… Continue reading Autumn Budget – 29 October 2018
Last year the team, friends and family took part in a 2 day challenge, walking 23 miles per day along The Llyn Peninsula. This year we are challenging ourselves even further by trekking 40 miles around Rutland overnight. This means no time to rest as the team begins the challenge at 10pm on Saturday 27… Continue reading The Rutland Plod – TW Challenge 2018
HMRC has issued a warning to taxpayers regarding the latest tax refund scams. These scams are targeting individuals via email and SMS messages. HMRC is currently processing genuine tax refunds for the 2017/18 tax year and the fraudsters are sending scam messages which claim that taxpayers are entitled to a rebate. These messages go on… Continue reading Tax refund scams warning from HMRC
BUSINESS TRAVEL As we approach the time when employers have to deal with P11d returns, it is worth having a recap on the general principles of what is allowable. Travel expenses have specific tests which must be satisfied in order for an employee to gain a deduction. These rules are different from the general rule… Continue reading P11d returns – Recap on the general principles of what is allowable.
It is that time of year again when your organisation’s P11D forms will need to be prepared and submitted to the Inland Revenue. The most common entries being the car or van benefit, with or without fuel for private use. In addition to the above, directors/employees are sometimes provided with private health insurance. The best… Continue reading P11Ds – Return of Expenses and Benefits
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?
If you wear a uniform or protective clothing at work and you have to wash it yourself you may be due a tax refund from HMRC, and if you don't claim it, you'll lose it after 4 years. This typically applies to: Retail staff Hospitality & catering Nurses, doctors, dentists and other healthcare workers Police… Continue reading Are You Washing Away Your Potential Tax Refund?
With the self-assessment tax return deadline now well passed, we can start to look forward to 2017-18’s income and consider whether you are fully utilising your tax free allowances. Using the following to their full potential can often be the most tax efficient way of accessing the income in your company or savings. Personal Allowance… Continue reading Tax Free Allowances – Are you making the most of them?
What is a dormant company? A company or association may be ‘dormant’ if it is not trading and doesn’t have any other income - for example from investments. A dormant company has different obligations for corporation tax, annual accounts and returns for Companies House in comparison to a trading company. Dormant companies and corporation tax… Continue reading Dormant companies – obligations