Latest blogs for Specialisms

18th March 2019 Payroll update: March 2019

  The team at Whiting’s payroll bureau have produced their latest newsletter, to keep clients updated on relevant recent changes to payroll and related legislation.   Edition 10 – March 2019  

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11th March 2019 Revised rates for the Annual Tax on Enveloped Dwellings

The charges made under the Annual Tax on Enveloped Dwellings (ATED) regime increase in line with inflation on 1 April 2019:   Property value From 1 April 2018 From 1 April 2019   £ £ More than £500,000 up to £1 million 3,600 3,650 More than £1 million up to £2 million 7,250 7,400 More…

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11th March 2019 UK residents with UK residential property gains – new obligations from 6 April 2020

From 6 April 2020, UK residents disposing of UK residential property will have new capital gains tax (CGT) reporting and payment obligations. The introduction of a 30-day reporting and payment window, i.e. within 30 days of completion of the sale, marks a significant change to the administration of CGT.   The changes do not apply…

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6th March 2019 Construction Industry VAT Reverse Charge

  HMRC’s latest attempt to stamp out tax fraud has turned their attention to the construction industry and, more specifically, VAT within the construction industry.  HMRC state they have identified “a significant risk to the Exchequer” as a result of missing trader fraud.  Missing trader fraud occurs where fraudsters take over or create shell companies…

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6th March 2019 HMRC wants your opinion – IR35 private sector consultation opens

The expected consultation period to roll out “off-payroll working rules” to the private sector has begun. HMRC propose that, from April 2020, medium and large sized private sector end-clients will be responsible for deciding if workers fees will be subject to PAYE and national insurance.   The consultation document advises HMRC will seek to address…

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28th February 2019 The ‘Right to Build’

In 2016, new legislation came into force which meant that councils now have a duty to grant planning permission to appropriate serviced plots as part of the ‘Right to Build’ entitlement. This was part of the government’s solution to tackling housing shortages across the country – the objective was to double the value of the…

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27th February 2019 Brexit – What does it mean for Farming?

Britain’s withdrawal from the EU’s Common Agricultural Policy (CAP) means British farmers will no longer be able to receive EU subsidies and will not have to comply with a number of regulations. Agriculture is a small sector in the UK economy, contributing less than 1% to GDP and employing around 1.2% of the workforce. But…

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18th January 2019 CryptoCurrency Taxation: HMRC close loophole?

HMRC are not known for being ahead of the curve, so trying to find official guidance on how exchange gains from selling bitcoin, and other crypto currencies, is expected to be self-assessed and taxed, was always going to be ‘problematic’. At the time of first researching this, the latest HMRC guidance was published in 3…

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11th January 2019 Financing your self-build project

  Borrowing to build Self-builders require more money up front than conventional homebuyers. This is because they have to buy their building plots and fund their planning applications before they can apply for any loans. Self-build mortgages tend to be interest-only as fixed-rate loans have substantial exit fees for those who change loans when the…

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7th December 2018 Budget Changes Encourage Investment

A number of measures contained in October’s budget were designed to increase investment made by UK businesses and aimed at raising the UK’s international competitiveness. Farmers anticipating expenditure on new commercial buildings or a large outlay on machinery, may find Chancellor Hammond’s changes both interesting and useful.   Let’s look first at the Structures and…

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