skip to navigationskip to main content

Tax Tips and News

  • Mileage rates for electric and hybrid cars

    Newsletter issue - August 2017.Some confusion has been reported over how businesses should calculate mileage expenses rates for electric and hybrid company cars. This confusion has arisen largely because HMRC's advisory fuel rates, or approved mileage allowance payments, only cover petrol and diesel cars. There are no separate 'approved' rates for electric or hybrid vehicles.…Read More

  • Switching to the cash basis

    Newsletter issue - August 2017.Many small, unincorporated businesses choose to use the 'cash basis' for working out taxable income. Under this method, participants will be taxed on the basis of the cash that passes through their books, rather than having to undertake complex and time-consuming calculations designed for larger businesses, who generally have to use…Read More

  • SDLT on second homes

    Newsletter issue - August 2017.Stamp Duty Land Tax (SDLT) is payable on the purchase of residential property in increasing portions of the property price above £125,000. Current rates of SDLT on individual and additional properties are as follows: Purchase price up to £125,000 - SDLT rate Zero; additional property rate 3% The next £125,000 (portion…Read More

  • Paying voluntary NICs

    Newsletter issue - August 2017.There are various reasons as to why gaps may arise in an individual's national insurance contributions (NIC) record, for example, because that person has been on low earnings for several years, they have been living abroad, or because they have been unemployed and have not been claiming benefits. In certain circumstances…Read More

  • August questions and answers

    Newsletter issue - August 2017.Q. My wife has a part time job but doesn't earn enough to pay tax. Can she get tax relief on contributions made to a pension scheme? A. Yes, even if you are not earning enough to pay income tax, you still qualify to have tax relief added to any contributions…Read More

  • August key tax dates

    Newsletter issue - August 2017. 2 - Last day for car change notifications in the quarter to 5 July - Use P46 Car 19/22 - PAYE/NIC, student loan and CIS deductions due for month to 5/8/2017Read More

Tax Tips & News RSS Feed

Subscribe to our newsletter

Our monthly newsletter contains a round up of the latest tax news and updates of what's happening at Hallgarth Accountants

As a subscriber you will automatically recieve our newsletter direct to your inbox