Author: Tony Shackleford

Tax Changes Forecast For New Government

Written by Tony Shackleford on July 9, 2024.

Before the election the Institute of Fiscal Studies announced that the new government would have to significantly reduce spending or increase taxes, ot both in order to control government debt....

Capittal Gains Tax, Inheritance Tax, Tax changes, Tax increase, Tax Increase foloowing general election, Tax Labour Government, Vat

VAT On Edible Straws

Written by Tony Shackleford on June 19, 2024.

A recent article we have seen discussed the VAT treatment of edible straws. This illustrates how unnecesarilly complicated the UK tax system is. The default position with VAT is that standard rate...

edible straws, Vat, VAT on edible straws, zero rated VAT

Capital Gains Tax Rates 2024/2025

Written by Tony Shackleford on May 30, 2024.

Following on from changes announced in the budget by the Chancellor, capital gains tax rates for individuals for 2024/25 are as follows: For residential property, either 18% or 24%. For other...

Capital gains tax, Capital Gains Tax rates, CGT, CGT Exempt band

Stop Notices For Umbrella Companies

Written by Tony Shackleford on May 20, 2024.

Certain umbrella companies promote tax evasion scheme’s which are designed to allow subcontractors to avoid taxes, by treating money drawn from the subcontractors companies as loans rather...

loan to employees, Tax evasion, UYMbrella company

Payroll Return Changes 2025/26

Written by Tony Shackleford on May 8, 2024.

From April 2025 employers will need to include the hours worked for each employee on RTI returns made to HMRC.

hours worked, RTI, rti returns

CIS Gross Payment Status

Written by Tony Shackleford on May 7, 2024.

There has recently been an update to eligibilkity to gross payment status under CIS. The basic rule remains that a business need to have turnover of at least the lower of £100,000 or £30,000 per...

CIS, CIS gross payment status

Overseas Traders Evading UK VAT

Written by Tony Shackleford on April 29, 2024.

In January 2024 HMRC commenced writing to approx. 12,000 businesses which it believes are based overseas, but incorporated in the UK. The main purpose for the companies to be registered in the UK...

Amazoin and Ebay VAT, HMRC, VAT avboidance

High Earners Removed from Self Assessment

Written by Tony Shackleford on April 22, 2024.

HMRC have announced that individuals who earn in excess of £150,000 through PAYE schemes, will no longer need to submit self-assessment tax returns. 12 months ago HMRC removed the requirements to...

high earners tax returns, HMRC, Self assessment

HMRC Tax Enquiries

Written by Tony Shackleford on April 15, 2024.

Statistics produced by HMRC earlier this year, indicated thaty HMRC is undertaking less than half the number of tax avoiudance enquiries as it undertoook pre pandemic.

HMRC, HMRC Enquiries, Tax avoidance

UK State Debt

Written by Tony Shackleford on April 9, 2024.

The ICAEW have recently reported that the UK Public debt as at 31 March 2022 totalled £6.3 trillion. This does not include studenbt loan debt nor accrued state pension which has been accrued . The...

Public secto debt

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Author: Tony Shackleford