by admin | Mar 4, 2020 | HMRC notices |
Special rules apply to transfers of income streams. The rules make it clear that the sale of an income stream – designed to turn economic income into a return that is treated by tax law as capital – is unlikely to work. For example, shareholders could...
by admin | Feb 26, 2020 | HMRC notices |
In most cases, property rental income must be brought into account in the year in which the income was earned, even if the invoice has not yet been paid. However, a deduction is allowed in respect of bad & doubtful debts. These are debts which are either...
by admin | Feb 19, 2020 | HMRC notices |
The 'badges of trade' tests, whilst not conclusive, are used by HMRC to help determine whether an activity is a proper economic / business activity or merely a money-making side-line to a hobby. Eventually, taxpayers may have to decide if their hobby has...
by admin | Jan 29, 2020 | HMRC notices |
HMRC has published a useful list to help businesses be prepared to import goods from the EU to the UK after the 31 January 2020 Brexit date. In the short-term there will be a transition period during which all rules remain the same. The Government expects to have a...
by admin | Jan 29, 2020 | HMRC notices |
In tandem with the list for importing goods, HMRC has published a useful list to help businesses be prepared to export goods from the UK to the EU after the 31 January 2020 Brexit date. In the short-term there will be a transition period during which all rules remain...
by admin | Jan 29, 2020 | HMRC notices |
HMRC has published a useful list to help businesses transport goods commercially when driving from the UK to or through Europe. In the short-term there will be a transition period during which all rules remain the same. The Government expects to have a trade deal in...
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