What is a negligible value claim?
A negligible value claim is a claim made by a taxpayer when an asset they own has become of negligible value, i.e. it...
06 Nov
Capital Gains Tax
Author Archives: Elver Consultancy
06 Nov
General
Finance Bill 2019-20 shelved
The Government’s draft finance bill has been shelved as we countdown to the general election on 12 December 2019. The consultation on the...
31 Oct
Tax Diary
Tax Diary November/December 2019
1 November 2019 - Due date for Corporation Tax due for the year ended 31 January 2019. 19 November 2019 - PAYE and NIC...
29 Oct
Income Tax
Sale of income for a capital sum
A capital sum received by an individual in respect of the sale or relinquishment of income - derived from his or her personal...
29 Oct
Employment & Payroll
Pecuniary liability treated as income
A pecuniary liability can occur when a monetary obligation is fulfilled by an employer, when by law, the liability was that of an...
29 Oct
HMRC notices
Using the cash basis for property businesses
The cash basis scheme helps sole traders and other unincorporated businesses benefit from a simpler way of managing their financial affairs. The scheme...
29 Oct
Income Tax
Costs you can claim against your self-employed business
If you are self-employed it is important to be aware if an expense is allowable for tax deduction purposes or not. Any allowable...
29 Oct
Value Added Tax
What you must do when charging VAT
When you issue a VAT invoice to your customer, you must ensure that you charge the correct rate of VAT. Whilst most businesses...
29 Oct
Income Tax
Just under 100 days to go
HMRC has published a news release to remind you that there is now less than 100 days to file your 2018-19 tax return....
29 Oct
Income Tax
Coding out debts deadline
You can have tax underpayments collected via an adjustment to your PAYE tax code, provided you are in employment or in receipt of...