VAT Rulings We are increasingly discovering that HMRC respond to a request for a VAT ruling by stating that a ruling is not required as the matter is covered by publicly available guidance.  In this case, the business may submit another request for a ruling (if any...

What is value added tax (VAT)? Value added tax is a tax levied by the government on sales of goods and services. All businesses which have an annual turnover of more than the current VAT threshold – currently £82,000 – must register for VAT and complete a quarterly...

  The pensions freedom rules are very useful for people in retirement – providing lots more flexibility – but there are dangers if you draw funds without thinking through the possible tax consequences. Since 6 April 2015, it has been possible for you to draw a...

  The big freeze for IHT Unfortunately the Chancellor also extended another freeze for a further three years. The inheritance tax nil rate band will now remain at £325,000 until April 2021. But there will be a new transferable main residence nil rate band,...

The Chancellor has announced that from 6 April 2016 there will no longer be a notional tax credit associated with dividends received and the following rates will apply after a £5,000 tax free dividend allowance. This will mean that from 2016/17 individuals will be...