50 Steps to prepare your personal tax return for HMRC

Preparing your personal tax return is one of the most important interactions that you will have with HMRC. Mistakes can have costly consequences and cause concern. At Jack Ross, we understand that you want certainty that your personal tax compliance obligations are met on a timely and accurate basis. That’s why we have a thorough[…]

Making Tax Digital – HMRC to Prioritise MTD

In order to try and build public trust the HMRC charter has been upgraded and updated to clarify the standards of behaviour expected from both them and tax payers. The have also provided clearer guidance on Making Tax Digital, meaning it is more accessible and as clear and authoritative as possible. Support services will be[…]

Personal tax planning in 2021/22

Personal tax planning in 2021/22 If there’s one thing to take away from Spring Budget 2021, it’s taking charge of your personal finances is going to be increasingly important over the next five years. With the financial fallout from COVID-19 over the last year being the fiscal equivalent of fighting a war at more than[…]

Barrister Incorporation

Update on Barrister Incorporation Back in 2015, the Bar Standards Board began accepting applications from Barristers who wish to practice through a separate legal entity, thus paving the way for barristers to operate through a limited company. Since then some 75 entities are now BSB Authorised Bodies meaning that they are fully owned and managed[…]

Capital allowances from 1st April 2021

As part of the Budget announced on 3rd March 2021, the Government introduced new temporary first-year allowances, including a 130% super-deduction, which will take effect from 1st April 2021 up to 31st March 2023. HM Treasury has provided a factsheet covering the super-deduction here. We have summarised the capital allowances applicable from 1st April 2021[…]

Finance cost relief for residential lets

Historically, landlords have enjoyed generous income and capital gains tax reliefs which helped make residential property an attractive investment for those looking to add to their monthly incomes or provide for retirement. But over the years the Treasury has eroded these reliefs, both income and capital. You might remember mortgage interest relief at source, which[…]