THP Blog

Unmarried couples to receive tax breaks?
Posted by Jon Pryse-Jones on July 5, 2018

A new ruling from the Supreme Court may see changes to tax breaks for unmarried couples. A recent case may set precedence into whether unmarried couples receive the same tax benefits as married couples or those in same-sex civil partnerships.

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tax ruling at UK Supreme Court
HMRC tackles its own fraudsters!
Posted by Jon Pryse-Jones on June 4, 2018

There has been an endless growth in illegal sites associated with HMRC, with the scammers creating websites that look similar to HMRC’s official site with the call numbers being at an extortionate costs. However, HMRC has found a way to tackle these fraudsters saving the public £2.4m from these phone scams.

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hmrc scam
How to rent a room at home tax free!
Posted by Jon Pryse-Jones on May 30, 2018

Since April 2016, the amount of tax-free income you can earn from letting out furnished accommodation in your home has increased to £7,500 per annum or £3,750 if two persons own a property jointly. Here we look at how the rent a room scheme works and the tax rules.

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rent a room tax free
Items you can claim for on your Tax Return
Posted by Jon Pryse-Jones on April 25, 2018

When your tax return for 2017-18 is completed, make sure you remember the following expenses. Sometimes they are overlooked.

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tax return expenses
Some questions answered on Making Tax Digital
Posted by Jon Pryse-Jones on April 18, 2018

If you’re self-employed, then just the thought of completing an annual self-assessment tax form can fill you with dread. How long is it going to take? Now where did I put all of my receipts? The Government could have a solution though. In a move to make it easier for individuals and businesses to get their tax right, Making Tax Digital (MTD) could put an end to the annual tax return for millions.

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making tax digital
Just submitted your own Tax Return online? Think you have paid the right amount of Tax? Think again!
Posted by Jon Pryse-Jones on February 1, 2018

For THP, this 2016/17 SA tax return season has been particularly stressful, as there have been so many exclusions from online filing. These exclusions were all caused by HMRC being unable to programme their tax computations to work your tax out correctly according to tax law! Although HMRC issued a fix to their tax computation

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Tax return online
Claiming Tax Credits? Don’t miss the 31 January deadline!
Posted by Jon Pryse-Jones on January 23, 2018

Although the renewal date for 2017/18 tax credit claims was 31 July 2017, any estimated figures provided at that time must be confirmed by 31 January 2018. If you are self-employed and claiming tax credits, you have to provide your income details twice to HMRC – once on your Self-Assessment tax return and also as part

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Tax Deadline Jan 18
Company Capital Gains Tax indexation relief is frozen. Ouch.
Posted by Jon Pryse-Jones on December 1, 2017

Before the Autumn Budget, the Capital Gains Tax (CGT) calculations for companies included a relief called the indexation allowance. Basically, this allowed a company to increase the deemed acquisition cost of an asset by the annual rate of inflation. If the deemed purchase cost of an asset being sold is increased, the taxable gain when

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Budget 2017 & indexation allowance banner
No more queuing at that post office or sticking your tax bill on that personal credit card!
Posted by Jon Pryse-Jones on October 30, 2017

If you are one of those with plenty of time on your hands and who like to join that eternal queue in the good old (or should that be bad old?) post office to settle your tax bills then you’d best take a seat.

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HMRC tax Banner
Children aged under 18 and tax – a few key considerations
Posted by Jon Pryse-Jones on October 6, 2017

Income tax and National Insurance As with adults, children aged under 18 can earn up to the tax free allowance in each tax year (£11,500 in 2017/18) and pay no income tax.

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