Tax compliance

Annual Tax on Enveloped Dwellings (ATED) – April 2017 new valuations

Posted on 09/03/2017 at 10:42

Some of our company clients with properties in the UK are required to submit ATED returns by 30 April to cover a tax year. For example, for 2017/18, the return will be due by 30 April 2017.

The ATED was introduced in April 2012 and valuations were done then on properties held on that date to ensure that a) ATED did apply because the properties were valued above the prescribed threshold and b) the correct tax charge was applied and paid.

The valuations of these properties w... read more

Non-UK Resident Capital Gains Tax

Posted on 09/03/2017 at 10:41

Non-UK resident clients who own a property or properties in the UK are reminded to notify us as soon as they dispose of their UK property or properties. This is because a return will need to be prepared and submitted within 30 days of conveyancing. Penalties for failure to submit a return can go up to £1,600.

Any capital gains tax to pay will need to be paid after the return is submitted or if the client has a tax reference number and regularly submits tax returns, then this c... read more

Making tax Digital

Posted on 01/09/2016 at 10:18

The Government intends to force all businesses, both large and small, to keep records electronically and make quarterly Returns.

This will affect unincorporated business with income of £10,000 per year or more. Those which currently do not use software to keep financial records will be required to do so. However, it seems Limited Companies will have to use digital record keeping, no matter what the level of income.

This new regime will also includ... read more