Posts Categorised: News

Does working from home give me a CGT problem?

An increasing number of our clients are running home-based businesses or are working from home at least some of the time. One issue that troubles lots of people in this situation is whether claiming home expenses against tax has any impact on capital gains liability when selling the home. Let’s clear up some misconceptions. Claiming home expenses… Read more »

Can You Afford an HMRC Tax Investigation?

Anyone can be selected: a business, director or individual tax payer We have talked before about how HMRC is trying to close the multi-billion pound gap between what it should receive and what it actually collects. They have invested millions in sophisticated new computer systems to proactively target individuals and organisations. If any of their… Read more »

PM Targets Dudley

The Dudley borough hit the headlines this week as Theresa May chose the Netherton Conservative Club as the venue for an electioneering speech. This must have felt like a safer place to meet Dudley voters after the Prime Minister had been refused permission to walk on the lawn of a resident in Sedgeley, earlier in… Read more »

Main Residence Nil Rate Band

You might need to change your will One tax change that we haven’t highlighted yet in our discussions about the Budget is the “main residence nil-rate band” (MNRB). The MRNB is an allowance that has been introduced into inheritance tax calculation, and applies if an individual’s interest in a residential property is left to children or grand-children. MRNB… Read more »

Dudley Business and Innovation Enterprise Zone

DY5 Delight Lewis Smith & Co. would like to welcome Insurance Protector Group (IPG) as the first business to set-up shop in the DY5 Business and Innovation Enterprise Zone. The Enterprise Zone is being developed by a partnership of Dudley Council, Black Country LEP and West Midlands Combined Authority.  Its mission is to rejuvenate the existing Waterfront… Read more »

Apprenticeship Levy 2017

Are You Ready for the Levy? A change is coming to large payroll businesses with effect from 6 April 2017 – the Apprenticeship Levy will apply to all businesses with annual payroll costs in excess of £3 million pa. The levy is being implemented by the government to help pay for an expansion in apprentice training. Employers,… Read more »

Spring Budget 2017

Bashing Business Budget? The Chancellor, Philip Hammond, may have expected some plaudits for his increases in social care spending and higher funding across a number of areas health, education and infrastructure.  Sadly for him the big headlines have made by his supposed attack on “white man van” – the self-employed. Here’s our pick of the highlights of… Read more »

April 5th deadline is looming

A couple of things to do before the new tax year Here are a couple of tax planning ideas to take care of before the new tax year begins on April 6th. Use your 2016/17 ISA allowance The ISA allowance for 2016/17 £15,240, so if you haven’t used it all up yet get investing soon. The £15,240… Read more »