The future is here
We are proud to introduce the new Thompson Wright taxapp! At Thompson Wright, we are committed to providing you with all the information you require in an easy to understand format. Designed to Read more..
Bereavement leave for parents who lose a child
The Parental Bereavement (Leave and Pay) Bill has been published by the government. Although the Bill is a Private Members’ Bill, it has the full support of the government and therefore the Bill and Read more..
Managing staff experiencing mental ill health
Acas has launched new guidance to help employers manage staff who are experiencing mental health issues. The new guidance aims to help managers develop the right skills to support employees as well as Read more..
Is it a car or a van?
The First-Tier Tribunal recently heard three appeals that examined whether vehicles supplied to employees were vans or cars. The main appellant in this case was Coca-Cola European Partners GB Ltd Read more..
Non-residents selling UK home
A capital gains tax (CGT) charge on the sale of UK residential property by non-UK residents was introduced in April 2015. A UK non-resident that sells UK residential property needs to deliver a Read more..
Overdrawn director’s loan account
An overdrawn director's loan account is created when a director (or other close family members) ‘borrows’ money from their company. Many companies, particularly 'close' private companies, pay for Read more..
HMRC to stop accepting personal credit cards
HMRC has confirmed that they will no longer accept payments with a personal credit card from 13 January 2018. This includes payments for income tax, PAYE, VAT and many other taxes. This is due to the Read more..
Inactive companies and Corporation Tax
There are a number of scenarios where HMRC would consider a company or organisation to be inactive for Corporation Tax (CT) purposes. This is a different categorisation to a 'dormant' company and Read more..
What is a 'K' tax code?
The letters in an employee’s tax code signify their entitlement (or not) to the annual tax free personal allowance. The tax codes are updated annually, or when an employee's circumstances change, and Read more..
Do you pay tax on assets or cash you inherit?
As a general rule, inheritance tax (IHT) is collected from a person’s estate when they die and can also be payable during a person’s lifetime on certain trusts and gifts. There is normally no tax to Read more..