Blog
UK property & capital gains tax reporting rules
If you sell a second home or buy-to-let property and it attracts a gain, this needs to be reported and any capital gains tax paid within 30 days of the completion date or late-filing penalties apply.
Employee benefits-in-kind during COVID
How have benefits-in-kind changed in response to the coronavirus pandemic, how are they taxed and how do you report them in the most challenging of years?
Westminster expands coronavirus support
All you need to know about the furlough scheme and the third taxable grant available through the SEISS, rounding up Westminster’s improved support measures.
Reporting the SEISS & filing your tax return
Coronavirus grants claimed through the self-employed income support scheme do not need to be repaid, but they are taxable and your obligations start from 31 January 2021.
Making Tax Digital for income tax set for 2023
The Treasury has announced a new timetable for Making Tax Digital, extending the scheme to all VAT-registered businesses in 2022, and for income tax from 2023.
Economic update: What it means for employers
Westminster announced more temporary measures in an economic update on 8 July 2020, which affect certain sectors and employers while aiming to prop up the UK economy.
The residence nil-rate band
Earlier this year, it was far from certain that the final increase to the residence nil-rate band would go ahead. Such was the clamour for change to inheritance tax prior to the Spring Budget back in March, rumours were rife that this could be abandoned. The £100,000...
Changes to the tapered pensions annual allowance
Changes to the tapered annual pension allowance kicked in last month, gradually reducing the £40,000 annual pension allowance for those on the very highest incomes.
Coronavirus support for the self-employed and charities
It’s safe to say we’ve experienced an unprecedented start to the new tax year, with coronavirus-related calls keeping us extremely busy. Most of those queries have been related to the furlough scheme - who’s eligible, how much is available and accessibility. The...
Personal tax planning for 2020/21
With less than three weeks to spare before the end of 2019/20, Westminster finally delivered the 2020/21 tax rates. All of that, however, pales into insignificance somewhat when you consider the people and businesses affected by the coronavirus. Since the Spring...