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July 2019

Tax Diary August 2019

Here are some important dates for your August calendar. 

Low paid workers to qualify for sick-pay

The government has started a consultation to transform support for sick and disabled staff and remove barriers for employees.

New homes to have car charge-points

In a bid to accommodate yet more electric vehicles on our roads, the government has launched a consultation aimed at increasing the number of homes with electric car charge-points.

Internet giants face tax-hike

It has been confirmed that from April 2020, the government will introduce a new 2% Digital Services Tax (DST) on the revenues of search engines, social media platforms and online marketplaces which derive value from UK users.  

Changes to private residence relief

If you rent out all or part of your home this may create a Capital Gains Tax (CGT) charge when you sell the property.

Electric cars to be exempt from company car tax in 2020

When an employee or director has use of a company car, they are subject to benefit in kind tax. The amount of tax payable depends on the car’s value when new, and the CO2 emissions it produces. Therefore, an employee with a 1.2l petrol Toyota will pay much less tax than one with a 2.0l diesel Audi. 

Are you aware of the tax implications of extracting your property portfolio from company to private ownership?

With the introduction of the finance restriction in April 2007 (F(No.2) A 2015 s.24)  for individuals owning buy to let properties, many landlords looked at the benefits of transferring their properties to a limited company.

Return to date of death - no problem?

I have been appointed as executor - when does this start? As an executor or personal representative you may consider that your responsibilities start at the date of death.