Sinclair Day

July 6, 2017

Tax-free loans to employees

Employees can obtain a tax-free benefit when provided with an employment-related cheap or interest-free loan. The most common is where the combined outstanding loan value to an employee is less than £10,000 throughout a tax year. The benefit is
July 6, 2017

NMW and LW penalties for non-compliance

There are penalties for employers who don’t pay staff what they are legally entitled to under the National Minimum Wage (NMW) and National Living Wage (NLW) rates. Employers who have paid a worker below the correct minimum wage must pay any arrears
July 6, 2017

Bricklayer turned accountant is jailed

An Essex based financial adviser has admitted tax fraud and has been jailed for five years. He set himself up as tax adviser despite having no financial qualifications. He had previously worked as a bricklayer and his clients were mainly made up of
July 6, 2017

Taxman and the shed

One of the most often used and valuable of the Capital Gains Tax (CGT) exemptions covers the sale of the family home. In general, there is no CGT payable on the sale of a property which has been used as the main family residence. An investment