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Month: April 2019

Tax tips

What can be done with business losses?

16 April 201916 April 2019Cris Cox

Providing a business is being undertaken on a commercial basis with a view to making a profit, it is generally possible to claim relief for trading losses. Relief for trading losses may be obtained in a variety of ways, including: set-off against other income in the same or preceding tax year, for example against employment…

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Tax tips

Furnished holiday lets – what are the tax advantages?

11 April 201911 April 2019Cris Cox

Where a property is located in a holiday region, a consideration will be whether to let it as a holiday let or on a longer-term basis. As well as differing rental income profiles, there are tax differences to consider. Furnished holiday lets From a tax perspective, special rules apply to furnished holiday lets, which provide…

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Tax tips

Fuel and mileage payments for company car drivers

6 April 20196 April 2019Cris Cox

The car benefit tax charge does not cover fuel provided for a company vehicle. Where the company pays for all fuel (business and private), the fuel benefit will be charged, which is based on the cash equivalent of the benefit each tax year (£24,100 for 2019/20 multiplied by a percentage depending on the car’s CO2…

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Making Tax Digital

MTD software – what do you need?

2 April 20192 April 2019Cris Cox

Making Tax Digital (MTD) for VAT went live on 1 April 2019. VAT registered businesses with VATable turnover above the VAT registration threshold of £85,000 are required to comply with the requirements of MTD for VAT from the start of their first VAT accounting period beginning on or after 1 April 2019. For certain businesses,…

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Recent Posts

  • Do I need to register for VAT?
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