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Tax Insider

Our monthly newsletter covers topical issues and strategies to minimise your overall tax bill.

Each month our tax experts and authors share practical tips to help you better manage your tax affairs and reduce your tax liability.

Take a free 14-day trial today and download the April Tax Insider newsletter. As part of your free trial you’ll also get instant access to 868 tax saving strategies from our online tax articles.

Here is what our experts are sharing this month:

  • Company Cars: Worth considering for 2020/21?

    Due to the benefit-in-kind (BIK) system, leasing a personal vehicle via a limited company is often less tax-efficient than leasing privately and reclaiming business mileage. However, the tax year 2020/21 brings changes that make low carbon dioxide (CO2) emission cars far more appealing as company vehicles.

    Iain Rankin looks at changes affecting the benefit-in-kind charge for company car users in the tax year 2020/21. 

  • Check out tax-free childcare

    Recent guidance issued by HMRC explains how to request a review of a tax-free childcare or 30 hours free childcare application, where the applicant disagrees with a decision that they are not eligible.

    Sarah Laing reminds working parents and guardians to check their eligibility for tax-free childcare.

  • What turnover counts when registering for VAT?

    When a business’s taxable turnover reaches the VAT registration threshold, currently £85,000 per annum, it must register for VAT.  The key point here is the words ‘taxable turnover’.  Any income that a business receives that is not counted as ‘taxable turnover’ is excluded when calculating the VAT registration threshold.

    Andrew Needham looks at what income needs to be included in a business’s ‘taxable turnover’ when considering if it needs to become VAT registered and what can be excluded.

  • The ‘pros’ and ‘cons’ of being self-employed

    When someone is thinking of starting a new business, one of the first things they should consider is selecting the appropriate legal status for their venture. Do they want to be self-employed, or form a limited company? 

    Lynne Bell takes a look at some key considerations for individuals considering becoming self-employed.

  • Main residence relief: Where are we now?

    Selling a main residence prior to April 2020 meant that any capital gains tax (CGT) due on the sale was declared on the self-assessment tax return. This tax return was required to be filed by 31 January in the tax year following the disposal. 

    Meg Saksida summarises the major changes announced to apply from 6 April 2020 for capital gains tax relief for a taxpayer’s principal private residence. 

  • Pass it on! IHT and the family home

    Estimates are that inheritance tax (IHT) payable on taxable estates in 2019/20 will be over £6 billion. The family may not be fully protected from exposure to IHT.

    Tony Granger explains the inheritance tax implications of owning the family home and strategies to reduce the inheritance tax exposure. 

  • Penalties: Computer says ‘yes’!

    Back in the ‘good old days’ it was possible to pick up the phone and speak to a tax inspector to resolve tax issues; the figures in tax assessments were often handwritten; and Inland Revenue (as it was then) staff did a lot of administration by hand, rather than using a computer.

    Mark McLaughlin looks at a prospective change in legislation that may be bad news to some taxpayers who are late in filing self-assessment returns.

Benefits of the subscription
  • The latest tax saving strategies shared monthly wherever you want
  • Written by leading practising UK tax advisors
  • Complex tax strategies made easy
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Who is it for?
  • UK taxpayers
  • Business owners
  • Property developers
  • Landlords
  • Anyone with an interest in responsible tax saving
What topics do you cover?
  • Capital Gains & Inheritance Tax
  • Business taxes
  • Personal taxes and NIC Issues
  • Property taxation
  • HMRC powers and enquiries
  • Remuneration
  • VAT
  • Assets
  • And more
As part of your free trial, you will also get immediate access to the following popular tax-saving strategies:
Don’t forget rollover relief!

Meg Saksida continues with the theme of efficient investments for capital gains tax and considers the details of rollover relief.

Rollover relief is a relief available for capital gains made on business assets sold by traders such as sole traders or partnerships and includes those in furnished holiday letting businesses. This article focuses on unincorporated businesses, but the relief is also available to companies.

The relief can also be used for sales by individuals if the business asset is being used in a company in which they have at least 5% of the voting shares.

Providing free meals and catering to staff

Andrew Needham looks at the VAT consequences of providing free meals and other perks to staff.

If a business provides a canteen for staff, VAT is due on what the business actually charges for the meals, etc. If a business charges the market rate, VAT would be due in the normal way. 

However, if a business provides subsidised or free meals to staff, VAT is still only due on the actual monies received. This means that no VAT is due on catering supplied free to staff and is only due on what the staff actually pay for a subsidised meal.

Even if catering is

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