January 2020 - Appleleaf Accountancy

allowable finance costs

Although the way in which landlords obtain relief for finance costs on residential properties is changing, there is no change to the type finance costs that are eligible for relief. what qualifies for relief The basic rule is that relief is available for expenses that are incurred wholly or exclusively for [...]

using company vans for tax-free home to work travel

As a general rule, travel between home and work is regarded as private travel and if the employer meets the cost of that travel, a benefit-in-kind tax charge will be triggered. However, it is possible for employees with a company van to use that van to travel between home [...]

utilising the 2019/20 dividend allowance

The dividend allowance is quite unusual in that it is available to everyone and everyone has the same allowance. For 2019/20 the allowance is set at £2,000. In common with many allowances, it is a case of use it or lose it. As the end of the 2019/20 tax year [...]

IT consultant held contract for services

HMRC’s application of the IR35 rules remains ambiguous after an IT contractor successfully appealed to the First Tier Tribunal (FTT) against a tax charge arising under the intermediaries' legislation. In RALC Consulting Ltd v HMRC [2019] TC 07474, the FTT allowed an appeal against HMRC's determination that IR35 applied because [...]

don’t forget: online self-assessments and payments on account need to be submitted january 31st

Time is running out. If you need to and you haven’t filed your online self-assessment tax return for 2018/19 yet… It’s time to hurry. You only have until the end of this month. And even if you have already submitted it, if you’re liable to make a payment on account and haven’t made [...]