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Do I have to pay tax on my child benefit? 10 tips on the high income child benefit tax charge

You may have heard of people having to pay back child benefit, or having to complete a personal tax return, just because they receive child benefit. Perhaps we’ve asked you about your child benefit because we’re completing your tax return? Child benefit isn’t usually taxable, so today’s blog sets out the when child benefit needs…

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How much tax do you pay if you’re a foster carer?

You’ve made the decision to become a foster carer, but what how much income could you receive, and how much tax¬† do you pay? If you’re still thinking about becoming a foster carer, and you’re in North Wales or the North West of England, we recommend that you talk to 1st Affinity Fostering Service, who…

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Reverse Charge VAT for Construction, do the new rules affect me?

What is it, and when does it take effect? It’s the “Domestic Reverse Charge VAT for Construction Services“, and it’s meant to stamp out missing VAT from the construction industry. It comes into force from 1 October 2019. So not the most fun blog to write, or read for that matter, but it’s important stuff,…

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Should you buy a car through your limited company

Buying a car through your company will always create a personal tax charge for you and a national insurance charge for your company. This is because HMRC expect you to have private use of your car, so you are seen to be receiving a benefit in kind that any other employee would not be entitled…

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Making Tax Digital is Here! What do I need to do?

Making Tax Digital (MTD) went live 1 April 2019 But you’ll be pleased to hear that Xero switched over to Making Tax Digital for all users last week. Don’t panic, the first relevant VAT return that needs to be filed under Making Tax Digital is for the 3 months ended 30 June 2019, so we…

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