22nd October 2018 Featured Post

Background HMRC is bringing in its Making Tax Digital (MTD) regime, which will ultimately require taxpayers to move to a fully digital tax system. Regulations have been issued which set out requirements for MTD for VAT. Under the new rules, businesses with a turnover above the VAT threshold (currently £85,000) must keep digital records for […]

17th September 2018

Taxpayers with overseas assets: What you need to know Time is running short for taxpayers with overseas interests to ensure they are meeting their UK tax obligations. Under the new rules – which come into effect on 30 September – those with offshore assets such as holiday homes may incur costly penalties if they aren’t […]

30th May 2018

100 word speed read The Treasury Sub-Committee has launched a call for evidence on the powers given to HMRC in the last five years to tackle tax evasion and tax avoidance schemes, and is inviting responses by 31 May and readers are encouraged to provide feedback to the questions posed. A review of the measures […]

6th March 2018

The impact of VAT on your horse expenditure/income So, we get pretty used to paying VAT on most things, don’t we? But have you ever given much thought to the impact of VAT on your horse expenditure (or income)? You may well be aware that the basic starting point for VAT is that once a […]

26th February 2018 Featured Post

Higher penalties for unpaid tax relating to overseas assets Taxpayers who know or suspect that they have unpaid tax relating to overseas assets, income or activities need to act before 30 September 2018 to avoid incurring much higher penalties for their non-compliance. HMRC’s “Requirement to Correct” (RTC) obliges taxpayers to make a disclosure of unpaid […]

20th December 2017

Sometimes I think Del Boy had it right …… cash Rodders, cash. Indeed, horse trading – and a lot of horse activities generally – are one of the few places left in society where cash transactions are still pretty common. Now, I like cash as much as the next person – as it fleetingly passes […]

15th December 2017

Legal Entity Identifiers Under the European Union’s revised Markets in Financial Instruments Directive II (MiFID II), every ‘legal entity’ will need to register and obtain a 20-character alphanumeric reference code known as a Legal Entity Identifier (LEI) before it can trade on financial markets in the UK.  This will take effect from 3rd January 2018.  […]

20th November 2017

Understanding the Changes for Non-UK Domiciliaries Nobody likes to think about inheritance tax, for obvious reasons. However, those not domiciled in the UK should consider their overall tax position so that there are no surprises for them or for the beneficiaries of their estate. Indeed, with planning it is possible to minimise the amount of […]

9th November 2017

If you own or run a livery yard, figuring out the tax issues affecting the yard will probably be fairly down the to do list, compared with ordering feed/ making that last minute call to the farrier/ mending the latest bit of fencing to be broken, etc.  However, of course as we all know, the […]

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