Frequently Asked Questions

Hillier Hopkins LLP

Chartered Accountants & Tax Advisers

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Showing FAQ's related to: taxation

It is important to know what you should be able to claim tax relief on within your business.Read more

Businesses that employ staff have an obligation to collect and pay taxes to HMRC in relation to that employment.Read more

Companies and self-employed individuals in the UK have a number of obligations in relation to the taxes they may have to pay to HMRC.Read more

The Construction Industry Training Board (CITB) impose a levy on employers in the construction industry.Read more

Here are some of the most common frequently asked questions answered by our VAT & Indirect Tax expert Ruth Corkin:Read more

A cautionary tale for how it can go so wrong.Read more

Our helpful guide on how you could make savings on Stamp Duty Land Tax. We have seen a number of clients overpaying their SDLT liability as they were unaware that their recent property purchase qualified for a relief.Read more

We believe that this is the first stage in building a system by which almost everyone will effectively provide the information so-far provided on a tax return but sooner. Read more

Companies that carry out research and development (R&D) can often reduce their tax bills by claiming relief for some of their R&D expenditure.Read more

If you run your own business as a sole trader (rather than through a company) you should register for self-assessment so that HMRC can issue you with an annual tax return. Read more

The questions below relate to the purchase of residential properties by individuals and are ones we answer on a daily basis.Read more

The question you need to ask yourself is, “would you live there?” If the answer is no then you may have an opportunity to claim overpaid SDLT.Read more

On 13 November 2020 HMRC changed their view to confirm that the 3% surcharge will not apply to a transaction which includes dwellings and non-residential property where Multiple Dwellings Relief (“MDR”) is claimed.Read more

Buy-to-let landlords have been affected by a series of legislative changes in recent years, from Stamp Duty Land Tax (SDLT) rate hikes to restrictions on mortgage tax relief.Read more

Experience and research has demonstrated that, in the modern environment not only do staff respond to incentives but, they actually attach a value to the way they are treated.Read more

Enterprise Investment Scheme (EIS) is a government scheme to attract investment into smaller companies. The main benefits of EIS are:Read more

Land Remediation Relief enables businesses to claim corporation tax relief of 150% of the cost of cleaning up contaminated land or buildings.Read more

Despite the increase in company car tax rates in recent years, there are now many incentives for business owners to run low emission vehicles through their companies and take advantage of the reduced tax rates on offer.Read more

The remuneration of many directors and employees is made up of more than just a basic salary. This factsheet gives guidance on some of the main types of benefits and expenses which may have taxation implications.Read more

The Apprenticeship Levy will be imposed on certain UK employers to fund new apprenticeships.Read more

From April 2016, legislation was introduced providing clarity as to what small benefits are deemed to be trivial and therefore exempt from tax and reporting obligations.Read more

Software may qualify for enhanced research and development (R&D) relief in two respects:Read more

For the purpose of tax reliefs, Research and Development (R&D) takes place when a project seeks to achieve an advance in science or technology.Read more

Companies that carry out research and development (R&D) can often reduce their tax bills by claiming relief for some of their R&D expenditure.Read more

The new Patent Box regime will apply a 10% rate of corporation tax, broadly to profits derived from patents, phased in over five years from 1 April 2013.Read more

SEIS is designed to help small, early-stage trading companies to raise finance by offering a range of tax reliefs to investors purchasing new shares in those companies.Read more

Business Asset Roll Over Relief allows you to defer tax on gains when certain assets (“old assets”) are disposed of.Read more

EMI has been designed to be particularly attractive to small and medium sized companies to enable them to reward and motivate key employees in the form of share options.Read more

EIS is designed to help smaller trading companies to raise finance by offering a range of tax reliefs to investors purchasing new shares in those companies.Read more

If you own a commercial property or furnished holiday let, capital allowances are a valuable form of tax relief.Read more

ATED is an annual tax payable mainly by companies that own UK residential property valued at more than £500,000.Read more

All UK VAT registered companies are entitled to recover VAT they have suffered in each of the other 27 member states.Read more

Doing business overseas is invariably complicated. It is necessary to consider completely different cultural issues, markets, regulations, laws, and tax regimes.Read more

The general rule is that you should be cautious about buying capital assets inside a company. Read more

HMRC do recognise that sometimes companies get into cash flow difficulties.  They will allow payment plans if they meet several criteria:Read more

The VAT regulations are never to be underestimated.  They are complex and the powers of the Customs side of HMRC are draconian. Read more

Corporation tax has to be paid quarterly when a company is large or very large.Read more

The government, and certain papers (in a somewhat hypocritical manner) would have us believe that you can never pay too much tax!  We think that there is, however, a difference between tax and charitable giving, and we see our role as making sure that the tax you pay is the minimum that you need to pay, and no more.Read more