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In total, 26 have been published by Galley & Tindle which Ground News has aggregated in the past 3 months.

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Top Galley & Tindle News

HMRC 'Doesn’t Know' How Many Billionaires Pay UK Tax, Public Accounts Committee Finds

UK Economy · United Kingdom

HMRC 'Doesn’t Know' How Many Billionaires Pay UK Tax, Public Accounts Committee Finds

62% Left coverage: 13 sources

Book a family holiday on the company? | Tax Tips | Galley & Tindle

United Kingdom · United Kingdom

Book a family holiday on the company? | Tax Tips | Galley & Tindle

You’re booking a last minute summer holiday for you and your family. As you’re a little short of cash, can you use your company’s money to pay for it, and if so what are the tax and NI consequences? The tax angle As a company owner manager you have control of your company finances. Of course, this doesn’t mean that you should spend its money willy-nilly but there’s nothing wrong in using it to pay for goods and services for your personal use or …Read Article

HMRC scrutinising directors’ loans

United Kingdom · United Kingdom

HMRC scrutinising directors’ loans

HMRC has begun a new compliance campaign targeting company directors who owed their companies money. What’s the full story, and how should you respond? Warning letter. HMRC says that it will shortly write to all directors that it has identified as having had one or more loans from their companies which were written off or released (waived) between April 2019 and April 2023. You’ll receive a letter if you didn’t report the details on your self-as…Read Article

Appeal court denies stamp duty land tax appeal on rat infested property

The Court of Appeal has confirmed that a property you can’t move into right away is still a residential property for tax purposes. What’s the full story? In this case, the taxpayers purchased a £1.7m property in London that had been empty for five months after the previous tenants were evicted. During that time, the property had been broken into and vandalised, none of the utilities worked and mice and rat droppings covered the kitchen. The boil…Property · London Read Article

Tax investigations - invoking time limits on HMRC?

You recently received a letter from HMRC querying one of the figures on an earlier tax return. The normal deadline for such enquiries was 31 January 2025. Can you simply ignore HMRC’s questions? Tax enquiries Soon after self-assessment was introduced the rules for tax enquiries were overhauled. They allow HMRC sufficient time to raise questions about a tax return while preventing it from having an open-ended right. On the face of it the rules se…London, England · London Read Article

Is an OpRA VATable?

If you offer your employees benefits in kind under a salary sacrifice deal as an alternative to part of their salary, will you have to account for VAT when you supply the benefit? Supplying employees If you’re VAT registered you must charge it on your sales unless whatever you’re supplying is exempt or outside the scope of VAT. This applies to all your customers, including your employees. With a few exceptions, the amount on which VAT is payable…United Kingdom · United Kingdom Read Article

Meaning of “new and unused” clarified for CAs purposes

The guidance on what “new and unused” means for the purposes of first-year allowances has been updated in order to make things clearer. What’s the full story? HMRC’s guidance has been updated to make the capital allowances rules on qualifying expenditure for first-year allowances (FYAs) clearer. The 100% FYA for main rate expenditure (full expensing) and the 50% FYA for special rate expenditure can only be used if the plant and machinery is new …United Kingdom · United Kingdom Read Article

Cutting the cost of a company car | Tax Tips | Galley & Tindle

You want to help your young son replace the ancient car he currently drives. The plan is for your company to buy it but for the running costs to be met by your son. That’s fine with him but is there a more tax and cost-effective alternative? The tax factor There’s no denying it, cars are expensive whether purchased personally or by your company. What’s more, if your income is derived from your business, tax plays a major factor in the overall co…United Kingdom · United Kingdom Read Article

Pensioners Warned to Watch Out for Winter Fuel Payment Scam Texts

100% Left coverage: 1 sources

Many of the scam texts falsely tell pensioners that an urgent deadline is approachingUnited Kingdom · United Kingdom See the Story

Errors in HMRC 2024/25 tax calculations

Reports are coming in about errors in HMRC’s tax calculations for 2024/25 involving Class 2 NI contributions. What steps should you take if you’ve been affected? Class 2 NI. Until April 2024 Class 2 NI was payable by self-employed individuals and business partners through their self-assessment tax returns. It was abolished in April 2024 and is now only payable voluntarily if your annual profits are less than at least £6,725 and you want to add t…London, England · London Read Article

Winter fuel payments to be clawed back via tax system

A government U-turn on the winter fuel payment was announced this week, with a new means-tested threshold. How will this work in practice? Recent weeks have been rife with speculation that the government would announce a climbdown for the current year, and this has now happened. Under the new system, all pensioners will initially receive the winter fuel payment. For those with incomes above the new threshold of £35,000, this will then be clawed …United Kingdom · United Kingdom Read Article

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