Family payments: deductible or not?

Family payments: deductible or not?

A 2018 tribunal case has ruled that payments a father made to his son for promotional work were not deductible for tax purposes. For the payments made to be deductible, they would have to be made wholly and exclusively for the purposes of the trade. Part of the issue...
Optimum tax efficiency in 2018/19

Optimum tax efficiency in 2018/19

From 6 April 2018 the dividend allowance will drop to just £2,000, coinciding with the annual shifts in the personal allowance and basic rate band. 6 April 2018 will see the latest uplift in the personal allowance and basic rate band. However, this year the dividend...
Dynamic coding teething problems

Dynamic coding teething problems

HMRC’s new dynamic coding has been in place since July 2017, but a problem has been identified which has changed its operation slightly. HMRC is pushing ahead with its Making Tax Digital (MTD)agenda. Whilst the main implementation for corporation and income tax has...
Childcare scheme deadline delayed

Childcare scheme deadline delayed

Out of the blue HMRC has announced a temporary reprieve for employers and their staff who want to take advantage of childcare voucher and similar schemes. The 5 April 2018 deadline for employer-funded childcare schemes which were due to close to new members on that...

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