Sinclair Day

April 25, 2018

Late filing of self-assessment tax returns

Taxpayers that have not yet filed their 2016-17 self-assessment returns, will have already been charged an automatic £100 penalty for late submission. The penalty applied from 1 February 2018 even if no tax was due or the tax due was paid on
April 25, 2018

Which car benefits are exempt from tax?

The tax benefits of driving a company car have been steadily reduced over many years. Most employers and employees are aware of the additional costs of providing company cars and the tax implications they create. However, for many employees the lure
April 25, 2018

How to claim or stop claiming the employment allowance

The employment allowance of £3,000 per year is available to most businesses and charities to be offset against their employers Class 1 NIC bill. The allowance can be claimed as part of the normal payroll process using either HMRC’s Basic PAYE Tools
April 25, 2018

Should you pay tax on money or goods you inherit?

The surprising answer to this question is usually no. This is because inheritance tax (IHT) is usually levied on a person’s estate when they die and can also be payable during a person’s lifetime on certain trusts and gifts. If you are the heir to