Sinclair Day

May 9, 2018

Stamp duty land tax for first time buyers

New figures published by the government have revealed that 69,000 first-time home buyers have benefited from the recent changes to the Stamp Duty Land Tax (SDLT) rules. Under rules that came into effect on 22 November 2017, SDLT has been abolished
May 9, 2018

Employers can claim back VAT from mileage claims

HMRC operates a simplification measure that allows businesses to claim back VAT from mileage claims using a standardised scale charge to value fuel costs for private use. The scale charge is a fixed amount based on a vehicles CO2 rating. Most
May 9, 2018

Child Benefit claw-back

The High Income Child Benefit charge came into force in January 2013 and applies to taxpayers whose income exceeds £50,000 in a tax year and who are in receipt of child benefit. The charge claws back the financial benefit of receiving child benefit
May 9, 2018

Progress made towards one-day cheque clearance

A new system that allows UK banks and building societies to scan cheques and clear them digitally rather than using the paper cheque for clearing is expected to be introduced from October 2018. The Image Clearing System (ICS) for cheques will cut