Talking to your Clients

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  • Mercia Blog Liquidations beware

    Liquidations beware

    The government has become concerned about companies being run for a short period of time, liquidated and then the trade restarted in another business vehicle. In order to address this, a new Targeted Anti-Avoidance Rule (TAAR) has been introduced which applies to certain company distributions in respect of share capital in a winding up.

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  • Mercia Accountants TTYC Salary Sacrifice Renumeration Package

    Salary Sacrifice Arrangements

    The Government have become concerned that salary sacrifice arrangements are being used in an abusive manner and so new rules are introduced to limit the income tax and employer NIC advantages where benefits-in-kind are provided through salary sacrifice arrangements (described in the legislation as optional remuneration arrangements).

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  • Making Tax Digital Record Keeping

    MTD – Is anyone listening?

    At the Autumn Statement HMRC and the Government were keen to highlight the fact that they had received over 3,000 responses to the six consultation documents issued on Making Tax Digital and that HMRC would respond in January 2017.

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  • Mercia Blog Talking To Your Clients Landlords Residential Property Interest

    Upcoming Changes For Landlords

    The amount of income tax relief landlords can get on residential property finance costs will be restricted to the basic rate of income tax. Landlords will no longer be able to deduct all of their finance costs from their property income. They will instead receive a basic rate reduction from their income tax liability for […]

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  • Mercia Blog Talking To Your Clients Statutory Residence Test

    An Overview of Statutory Residence Test (SRT)

    The Statutory Residence Test (SRT) is designed to provide a simple process and clear outcome for the vast majority of people whose circumstances are straightforward. Indeed, for the majority of individuals, the SRT has no impact whatsoever on their residence status. They are either clearly resident in the UK or clearly not resident in the […]

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