Steve Maggs Tax Blog

The world of tax is fast moving, ever changing and constantly evolving. Through my Tax Blog I hope to bring you important tax changes and advice and help you keep abreast of developments in this ‘taxing’ world! If you’d like any further information please call me on 01872 276116 or email me at steve.maggs@rrlcornwall.co.uk.  You can also follow me @TaxCornwall.

Inheritance Tax – a Complex Beast

Posted on: February 22nd, 2018 by Tim Buringham

A survey carried out by Canada Life earlier this month has highlighted once again the complexity of the inheritance tax (IHT) system, and that individuals may be exposing themselves to unnecessary tax bills.

Read more...

Trust Registration Deadline Looms

Posted on: February 15th, 2018 by Tim Buringham

On 26 June 2017, new legislation was introduced meaning that trusts that incurred certain UK taxes in the 2016/17 tax year are required to register

Read more...

Five Ways to Make Self Assessment Easier

Posted on: January 24th, 2018 by Tim Buringham

24 January 2018

With many people hastily preparing tax returns in time for the Self Assessment deadline on 31 January, here are my top five tips for making sure you don’t get caught out by the taxman

Read more...

Trust Registration Service – Urgent Action Required by Trustees

Posted on: December 5th, 2017 by Tim Buringham

5 December 2017

Earlier this year, HMRC launched an online ‘Trust Registration Service’ (TRS), which includes the requirement for trustees to register express trusts (this does not include bare trusts).

Read more...

Small Businesses Face Digital Filing Early if VAT Threshold Drops

Posted on: November 21st, 2017 by Tim Buringham

21 November 2017

Following a recent report from the Office of Tax Simplification (OTS), it looks likely that the Chancellor may move to lower the threshold at which business begin paying VAT in tomorrow’s upcoming Autumn Budget (22 November).

Read more...

Autumn Budget 2017 Predictions

Posted on: November 14th, 2017 by Tim Buringham

14 November 2017

In his two major fiscal announcements as Chancellor so far, Philip Hammond has done little to dismiss his reputation for cautiousness. With the government’s majority gone and against the backdrop of ongoing Brexit negotiations, I do not see this as the moment for the Chancellor to throw caution to the wind with a major change of policy direction.

Read more...

HMRC Release Latest Tax Gap Figures

Posted on: November 9th, 2017 by Tim Buringham

8 November 2017

Always interesting reading to those in the tax profession, HMRC recently released their annual report on the tax gap, announcing that it has fallen to its lowest figure for a decade.

Read more...

EIS, SEIS and the Importance of Seeking Professional Advice

Posted on: October 16th, 2017 by Tim Buringham

16 October 2017

A case heard in July at the Upper Tax Tribunal has reiterated the importance of utilising experienced, qualified, individuals when obtaining advice, especially with regards to companies seeking to qualify for the Enterprise Investment Schemes (EIS) or Seed Enterprise Investment Schemes (SEIS).

Read more...

Quality Versus Quantity – Short Period of Occupation, Interesting Outcome of the Recent Case Law

Posted on: October 9th, 2017 by Tim Buringham

9 October 2017

A recent capital gains tax case has confirmed the importance of qualifying for Private Principle Residence relief when residing for short periods of time and also gives emphasises on the ‘quality’ of occupation which counts rather than the ‘quantity’.

Read more...

Another Nail in the Coffin of the Personal Tax Return

Posted on: October 5th, 2017 by Tim Buringham

5 October 2017

Last year’s Finance Act introduced a power which enables HMRC to issue “simple assessments” – income tax assessments outside of the self assessment regime. Find out more about these changes.

Read more...

Page 1 of 1012345...10...Last »