Tuchbands Budget Report

The Chancellor’s 2013 Budget contained some important announcements and confirmed a number of changes planned for the new tax year. Following this, we are delighted to attach the Tuchbands Budget Report  which contains the latest tax and financial information, which we trust you will find useful. As a result there may be a number of changes that will affect you so please fee… Continue Reading

Notice to Landlords – Flat Conversion Allowances, Energy-Savings Allowances

The special tax relief for flats over shops comes to an end on 5 April 2013. It may be renewed in next weeks budget but if the work is contacted for before 5 April, it can be claimed. The main conditions to obtain relief are: 1. Maximum number of storeys- 4; 2. The flats must have been unoccupied or just used for storage for at least a year before conversion work starts; 3. The flats must be l… Continue Reading

Residence New Rules From 6TH APRIL

The Statutory Residence Test comes into effect on 6th April. For non UK residents and those planning to be non resident now is the time to plan for the new regime. The new rules are summarised as follows: You are automatically UK resident if: 1. If you spend more than 183 days or more in the UK  or 2. You have a home in the UK for at least 90 days, you are present in that home for at least 30 separ… Continue Reading

VAT returns

On 9 January HMRC launched a VAT Outstanding Returns Campaign which is aimed at businesses who are behind with their VAT returns. If the outstanding returns are not filed by 28 February, then these businesses are under threat of  being  targeted for detailed enquiries which could result in penalties. That leaves eight days to file any outstanding VAT returns.… Continue Reading

HMRC is closing in on Undeclared Income

That is the banner headline on HMRC’s new website (www.gov.uk/sortmytax). The site states “Our new tchnology and extra staff make it easier for us to find you- no matter who you are” Scary!? We at Tuchbands, based in Golders Green  have a great track record in assisting people who have got behind with their tax returns for one reason or another or who have undecl… Continue Reading