• Philip Nickson & Co Ltd

    Chartered Accountants and Registered Auditors
    Tel: 01285 810099

  • Philip Nickson & Co Ltd

    Chartered Accountants and Registered Auditors
    Tel: 01285 810099


Ken Dodd has the last laugh

21/03/2018 – The recent death of the comedian, Sir Ken Dodd, aged 90, would not usually be the topic of one of our weekly articles. However, the comedian managed to have one last laugh by marrying his partner of 40 years just days before his death. By doing this it is estimated his estate has avoided a tax bill of almost £2 million. This last-minute … More...

Self-catering and holiday let business rates

21/03/2018 – One important aspect of a self-catering or holiday let business that should not be overlooked, is whether or not the owner of a holiday let is liable to pay business rates. Business rates are charged on non-domestic properties and help councils and local authorities to fund local services. The business rates are charged in place of … More...

HMRC tackling online VAT fraud

21/03/2018 – Under new rules that came into force on 15 March 2018, HMRC has enhanced powers to make online marketplaces accountable for VAT fraud committed by online sellers on their platforms. These measures are correctly referred to as joint and several liability (JSL) for marketplaces. The rules previously applied to overseas retailers that … More...

VAT option to tax land and buildings

21/03/2018 – There are special VAT rules that allow businesses to standard rate the supply of most non-residential and commercial land and buildings (known as the option to tax). This means that subsequent supplies by the person making the option to tax will be subject to VAT at the standard rate. The ability to convert the treatment of VAT exempt … More...

Directors beware National Living Wage complications

21/03/2018 – From 1 April 2018, the National Living Wage (NLW) will increase by 33p to £7.83. This represents an increase of 4.4%. The NLW is the minimum hourly rate that must be paid to those aged 25 or over. For the 21 to 24 year old’s, the hourly rate of the National Minimum Wage will increase to £7.38 (a rise of 33p). An interesting question to … More...

Marriage allowance still time to apply

21/03/2018 – The marriage allowance is available to married couples and those in a civil partnership, where a spouse or civil partner doesn’t pay tax or doesn’t pay tax above the basic rate threshold for income tax. The lower earning partner can transfer up to £1,150 (increasing to £1,190 in 2018-19) of their personal tax-free allowance to a spouse … More...

Finance Bill receives Royal Assent

21/03/2018 – The Finance Bill 2017-18 officially known as Finance (No.2) Bill 2017-19, received Royal Assent on 15 March 2018 following agreement by both Houses. The Bill is now an Act of Parliament to be called the Finance Act 2018. The Act contains the legislation for many of the tax measures that were announced by the Government at Autumn Budget … More...

Childcare voucher scheme deadline extended

18/03/2018 – The government has announced that the employer-operated childcare voucher scheme will remain open to new entrants for a further six months, i.e. until October 2018. The childcare voucher scheme, also called employer-supported childcare (ESC), was due to close from 6 April 2018 and be replaced by the government-backed childcare payments … More...

Tax avoidance scheme scuppered by HMRC

14/03/2018 – A tax avoidance scheme used by businesses that sought to avoid paying tax and National Insurance on company directors’ bonuses was the subject of a recent Upper Tribunal hearing. HMRC challenged the validity of tax claims by two companies firstly at the First-Tier Tribunal and then at the Upper Tribunal. The two cases were heard … More...

New offshore tax penalties

14/03/2018 – New legislation that comes into effect from 1 October 2018 will see higher penalties for anyone with undeclared offshore assets. HMRC has published a news release urging taxpayers with undeclared offshore assets to become compliant and warning taxpayers that they will prosecute the most serious cases of tax evasion. These new penalties … More...

Philip Nickson & Company Ltd. Chartered Accountants, Paradise Farm, High Street, Kempsford, Fairford, Gloucestershire, GL7 4EU
Registered to carry out audit work in the UK & Ireland by the Institute of Chartered Accountants in England and Wales
Registered in England & Wales No. 5439384.