Sinclair Day

November 6, 2019

What is a negligible value claim?

A negligible value claim is a claim made by a taxpayer when an asset they own has become of negligible value, i.e. it is worthless or worth next to nothing. The taxpayer effectively treats the asset as having been disposed of and then immediately
November 6, 2019

Finance Bill 2019-20 shelved

The Government’s draft finance bill has been shelved as we countdown to the general election on 12 December 2019. The consultation on the draft legislation has closed, but the prorogation controversy and Brexit issues meant there was no time
October 31, 2019

Tax Diary November/December 2019

1 November 2019 - Due date for Corporation Tax due for the year ended 31 January 2019. 19 November 2019 - PAYE and NIC deductions due for the month ended 5 November 2019. (If you pay your tax electronically the due date is 22 November 2019.) 19
October 29, 2019

Sale of income for a capital sum

A capital sum received by an individual in respect of the sale or relinquishment of income - derived from his or her personal activities - can sometimes be treated as earned income and chargeable to Income Tax. If this is the case, the amount charged