Makesworth Accountants Profile
Makesworth Accountants
Join Date:
2019-09-16
Blogs Owned
1. VAT REFUNDS FOR DIY BUILDERS
If you build your own house or convert an existing property into a home, you may be eligible to apply for a VAT refund on building materials and services. You do not need to be VAT registered to claim a refund.
Tags: VAT, VAT refunds, VAT refunds for DIY builders, DIY builders, refunds
2. Private residence relief and the final period exemption
From a capital gains tax perspective, there are significant tax savings to be had if a property has been the owner’s only or main residence.
Tags: Private residence relief, relief, Private relief, Private residence relief and the fi
3. Tax credits – do I have to tell HMRC if my circumstances change
Tax credits are benefit payments that are paid to people in work who are on a low income or have children. There are two tax credits – working tax credit (for those working but on a low income) and child tax credit
Tags: Tax credits, circumstances change, Tax credit, Tax
4. Curtailment of letting relief
Landlords have been hit with a number of tax hikes in recent years, and this trend shows no signs of abating. From 6 April 2020, lettings relief – a valuable capital gains tax relief which is available where a property .
Tags: letting relief, relief, Curtailment, Curtailment of letting relief
5. Director’s loan accounts – avoiding the risks
HMRC produce a series of toolkits which set out common errors that they find in returns. The hope is that by being familiar with the mistakes that are routinely made, steps can be taken to avoid them.
Tags: Director’s loan accounts, Director’s loan, loan accounts, Director’s accounts
6. When is a car a pool car?
Rather than allocating specific cars to particular employees, some employers find it preferable to operate a carpool and have a number of cars available for use by employees when they need to undertake a business journey
Tags: pool car, car, When is a car a pool car
7. Payroll how to deal with new starters
Rather than allocating specific cars to particular employees, some employers find it preferable to operate a carpool and have a number of cars available for use by employees .
8. Check your tax calculation
Each year HMRC undertake a PAYE reconciliation for employed individuals who are not required to submit a tax return to check that the correct amount of tax has been paid
Tags: tax calculation, tax, calculation, calculation tax
9. Government U-Turn on Pension Tax for Doctors and Others?
In earlier newsletters we reported that hospital doctors and GPs were lobbying the government to amend the pension tax rules as the current system of restricting tax relief on they take on additional responsibilities or work .
Tags: Pension Tax, Government, tax, Tax for Doctors and Others
10. VAT REVERSE CHARGE FOR BUILDING AND CONSTRUCTION SERVICES
The Government is introducing a VAT reverse charge on certain building and construction services. The legislation will come into effect on 1 October 2019
Tags: VAT REVERSE, VAT REVERSE CHARGE, CONSTRUCTION SERVICES
11. REVENUE AUDITS
Revenue can select your business for a Revenue audit at any time. These audits can focus individually on VAT, PAYE/PRSI, Income Tax or Corporation Tax or all four taxes together.
Tags: Audits, Revenue Audits
