toggle menu

THP Blog

Claiming expenses against your tax
Posted by Jon Pryse-Jones on February 8, 2017

Claiming expenses against your tax and….. ……the importance of being holy and exclusive! In order to qualify as a valid deduction in calculating your taxable business profit or income any expense you incur must be classed as incurred “wholly AND exclusively” for business purposes. But what does this “wholly AND exclusively”phrase actually mean? If you

Read more
How Uncle Nige Helped a Pal Give Away £10,000 – Tax-Free
Posted by Nigel Reynolds on January 26, 2017

I’d just popped into Zoology, the rather swish hairdressing emporium on Wanstead’s High Street, to get my venerable locks trimmed à la mode by my old friend Mark. We were enjoying a chinwag as the talented fellow got to work with scissors and trimmers when, much to my delight, my oldest chum Bob ‘Shorty’ Wigglesworth strode

Read more
Uncle Nige and the Curious Case of the Disappearing Capital Gains Tax bill
Posted by Nigel Reynolds on January 19, 2017

I was in my office, busy sipping a cup of LapsangSouchong, when in wafted two young lovers who promptly announced they planned to get married. “We’re planning to get married,” said the male half of the outfit, who happened to be called George. “To each other,” said the other half, whose name was Lucy, thus

Read more
Capital Gains Tax
All Change! How will Changes to the Tax System Affect you in 2017?
Posted by THP on January 17, 2017

Planning your Tax with the New Changes of 2017 Have you ever thought how cunning the Chancellor’s annual Budget really is? It’s a clever way of announcing lots of unpopular changes in one go, safe in the knowledge that most of them will bite at a later stage – when people’s minds have wandered off

Read more
Tax Changes 2017
The CAD at HMRC Sees Tax Revenue Jump by 80%
Posted by Jon Pryse-Jones on January 12, 2017

The taxman has been flexing his muscles over the last year, and to good effect ­­– HMRC’s Counter Avoidance Directorate (CAD) has collected £886m from its investigations into tax avoidance during 2015-2016. That’s a startling 80% increase over the previous tax year. So, how has the taxman done it? There are a number of reasons,

Read more
medieval tax
Changes to the “VAT Flat Rate Scheme” imminent – will you be out of pocket?
Posted by Jon Pryse-Jones on December 5, 2016

In last month’s Autumn Statement, Chancellor Philip Hammond announced changes to the VAT Flat Rate Scheme that will lead to a squeeze on finances for many small businesses. How the current Flat Rate Scheme works depends on the sector your business is in. As things stand, if you use this scheme you can’t reclaim VAT

Read more
Value Added Tax
Making Tax Digital
Posted by THP on November 16, 2016

Making tax digital – the end of the annual business tax return? Have you heard about  the taxman’s plans to abolish the annual tax return for businesses with an income of £10,000 or more? It’s part of a raft of measures called ‘Making Tax Digital’ (MTD). The idea is that, instead of sending the taxman

Read more
making tax digital
Do you employ freelancers? Don’t fall foul of the taxman
Posted by Nigel Reynolds on November 2, 2016

Many businesses make use of freelancers to help them with specific tasks. It’s usually a mutually beneficial arrangement ­– you draw on the skills of people you don’t have in-house, and you simply pay their invoice without having to worry about the hassle of payroll or other red tape. The freelancer gets money and experience,

Read more
Could a delayed phone call land you with a tax investigation?
Posted by Jon Pryse-Jones on November 2, 2016

Have you ever tried to phone the taxman, only to find your call has got stuck in a seemingly interminable queue? Sometimes it seems a triumph of hope over experience. You’ve been sitting there on hold for over 20 minutes, but you daren’t put the phone down after investing so much time in trying to

Read more
tax investigation
Why is 30 December 2016 such an important date?
Posted by Jon Pryse-Jones on October 24, 2016

So why is 30 December 2016 so important? If… • You are obliged to file a Self Assessment Tax Return (SATR) for 2015-16 and • You have underpaid tax for this year and • Some of your income (including private pension receipts) is taxed under PAYE …then you can apply to have your tax code

Read more
Calculating Taxes Up And Down
Join The Conversation
Member of the Legal Services Guild
Pay Online Today

You can pay us online now via our secure area. We accept Debit and Credit card payments.

Pay Online