The Hub

Macalvins is the modern face of what Chartered Accountants should be. By developing strong personal relationships with our clients we deliver first class, practical solutions and strategic advice to help business owners thrive.

What is a reasonable excuse?

What is a reasonable excuse?

HMRC is still required to obtain certain returns from you even if there is no income or tax to declare. Failure to submit will likely trigger late filing penalties and ...
Grants available for food producers

Grants available for food producers and suppliers

Up to £20 million is being made available to increase productivity and sustainability in crop and ruminant agriculture systems through the Industrial Strategy Challenge Fund. Innovate UK are looking for ...
Protect your home

Protect your home

A government think-tank, the Office for Tax Simplification (OTS), was briefed to consider a non-tax issue, a restricted form of limited liability for sole traders. At present, a sole trader’s ...
Buy to let mortgages

Buy to let mortgages

The gradual restriction of tax relief for buy-to-let mortgage interest has received much publicity since the process commenced 5 April 2017. From that date, tax relief is converted from a ...
What is side-ways loss relief

What is side-ways loss relief?

If a business owner makes a loss as a self-employed person, they can set off the losses against any other earnings of the same year. In effect, the business losses ...
Pay your VAT monthly

Pay your VAT monthly

If you find it difficult to manage quarterly payments to HMRC to settle your VAT, why not consider the VAT Annual Accounting Scheme (AAS). With the AAS you: make nine ...
Ask the government to sell property

Ask the government to sell property

UK residents can ask for publicly owned land and buildings to be sold if they think that the property is vacant or underused. You will need to track down the ...
When is Capital Gains Tax payable

When is Capital Gains Tax payable?

Notwithstanding any of the comments that follow, an individual is allowed to make tax-free capital gains of £11,700 during 2018-19. There are also a number of circumstances when a disposal ...
Changes to rent-a-room relief

Changes to rent-a-room relief

A new test is to be added to the qualifying criteria for rent-a-room relief from April 2019. The test will require that the individual or individuals in receipt of income ...
Points based penalties

Points based penalties

In the recently published draft clauses that will form the basis of the Budget later this year, HMRC has outlined a significant change to the way they will be levying ...
Making Tax Digital

Making Tax Digital

A reminder that from April 2019, HMRC’s much vaunted Making Tax Digital (MTD) scheme will apply to certain businesses. The April 2019 launch will only apply to VAT registered traders. ...
Construction drawn into VAT reverse charge process

Construction drawn into VAT reverse charge process

It would seem, that HMRC is keen to plug the apparent drain from VAT receipts when contractors and sub-contractors charge their customers VAT and then go missing, keeping the VAT ...
Director minimum salary levels 2018-19

Director minimum salary levels 2018-19

Many director shareholders take a minimum salary and any balance of remuneration as dividends. This tends to reduce National Insurance Contributions (NIC), and in some cases Income Tax. The planning ...
Self-employed tax bills

Self-employed tax bills

Whether you pay Income Tax or National Insurance, the effect on your cash flow is the same. The payments are a necessary part of our obligation to fund the activities ...
200,000 receive back pay

200,000 receive back pay

In a recent press release, HMRC urged underpaid workers to complain as figures show that the number of workers getting the money they're owed by employers has doubled after interventions ...
Crackdown on abuse of UK businesses

Crackdown on abuse of UK businesses

Reforms are being considered that will ensure that Scottish Limited Partnerships continue to be used as a legitimate vehicle for investment in the UK. Measures to crack down on the ...
Employees’ holiday entitlement

Employees’ holiday entitlement

The following definitions should help to clarify employee and employer rights and responsibilities regarding entitlement to holiday pay. Almost all workers are legally entitled to 5.6 weeks’ paid holiday per ...
What to do if you can’t pay your tax

What to do if you can’t pay your tax

HMRC will consider extended options for settling your outstanding tax bill. The key is to contact HMRC, explain why you can’t pay on time, and discuss how you can settle ...
Payments in lieu of notice

Payments in lieu of notice

Up to 5 April 2018, certain payments in lieu of notice were not taxable, primarily, those not contractually required to be made. This is no longer the case. Employers will ...
Why tax credit payments can change

Why tax credit payments can change

If you are claiming tax credits make sure that you keep an eye on changes that may affect the amount you receive. Your payments can go up if: your income ...

Get in Touch

We offer no obligation meetings so you can pop in and see if Macalvins is right for you free of charge. You can rest assured that with Macalvins we shall be moving forward together. We look forward to hearing from you