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..
Are we seeing the end of tax-free benefits?
There have been changes to the tax rules for certain Benefits in Kind which are provided as part of salary sacrifice schemes. These changes, which started coming into effect in April of this year, are Read more..
Gifts to a charity or your spouse
There is usually no Capital Gains Tax (CGT) to be paid on the gift of assets between married couples and civil partners. However, there is still a disposal that has taken place for CGT purposes, Read more..
How will your business be affected by Making Tax Digital?
The introduction of Making Tax Digital (MTD) will fundamentally change the way companies, the self-employed and landlords interact with HMRC. The new regime will require businesses and individuals to Read more..
Using your own car for business purposes
Employees who use their own car at work for business purposes can, under certain circumstances, be paid a tax-free allowance by their employers. This includes the use of their own van, motorcycle or Read more..
Should you be using the VAT Cash Accounting Scheme?
The VAT Cash Accounting Scheme (CAS) can offer important benefits to certain small businesses. Under the standard VAT accounting scheme, VAT is payable on sales whether or not the customer has paid Read more..
Are you claiming the NIC employment allowance?
For some time now, employers have been able to reduce their Class 1 NI contributions that relate to their employment of staff. The relevant relief, the employment allowance, is worth up to £3,000 per Read more..
DVLA car scam
The Driver & Vehicle Licensing Agency (DVLA) is warning the public of what appears to be a number of widespread scams targeting members of the public using emails, texts and telephone calls. These Read more..
Using the trivial benefits exemption
The trivial benefits in kind (BiK) regime came into effect in April 2016. This statutory exemption applies to small non-cash benefits like a bottle of wine or a bouquet of flowers given occasionally Read more..
The recent election result has certainly thrown the cat amongst the pigeons. There are already indications that the Queen’s speech and the start of Brexit negotiations may be delayed, this mainly due Read more..