THP Blog

Reduction in the £5,000 dividend allowance – is this lady for turning…..?
Posted by Jon Pryse-Jones on March 24, 2017

Dividend Allowance and the Spring Budget 2017 Well the National Insurance increase for the self-employed introduced in the Spring Budget didn’t last very long it seems. At the first sign of political pressure it was quietly abandoned. (Or was that postponed….?) Unless there are further political objections and U-turns, one of the few remaining revenue

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Dividend Changes
How would you like to pay your tax bill, sir? With iTunes gift cards?
Posted by Ben Locker on March 3, 2017

If there’s one thing you can rely on when it comes to the taxman, it’s the fact that he likes his bills to be settled using cold, hard cash – preferably deposited directly into his account. I mean, wouldn’t you be a teensy bit suspicious if he rang up and asked you to settle in,

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iTunes card
Road Tax Changes Explained
Posted by Jon Pryse-Jones on February 24, 2017

Thinking of buying a new car? Then hold your horsepower until you’ve read this article – it could save you some cash. Thanks to upcoming changes to Vehicle Excise Duty (that’s ‘road tax’ to you and me), you could be facing a nasty and unexpected bill if you buy a new car after 1st April

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Road Tax
Don’t Ever Expect HMRC to Help you Minimise your Tax Bill……
Posted by Jon Pryse-Jones on February 20, 2017

HMRC now refers to taxpayers as its customers which suggests a degree of customer service but in the real world this rarely extends to offering “customers” pro-active tax advice. Never forget…….tax collectors are trained to maximise the assessment and collection of tax.  Indeed, individual HMRC bonuses may be linked to the amount they succeed in

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minimise your tax bill
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

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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

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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

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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

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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,

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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

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Value Added Tax
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