Tax articles

Our new Dixcart Discuss series will provide short, commercially relevant video summaries of key issues relating to Covid-19. If there are any topics you would like us to cover or you have specific questions regarding some of the topics in our Dixcart Discuss videos, please get in touch: help@dixcartuk.com. Recorded 29/05/2020 UK Inheritance Tax and Domicile In this […]

Text in Purple denotes Updates made week commencing 4 May 2020. Dixcart has prepared a summary of the assistance that the government has made available to businesses at this challenging time. It is split into several categories to make it as easy as possible to follow. Coronavirus Job Retention Scheme Available to any size of […]

Text in Purple denotes an Update made week commencing 4 May 2020.  A few businesses will be thriving during the Coronavirus pandemic, as turnover is driven to them, but most will be experiencing a reduction in business and wondering how they will survive. This article is for them as it outlines the action to be […]

The issue of underwater share options arises each time there is a downturn in the market. The term is used when an option is ‘out of the money’: the agreed price at which an employee can acquire shares under an employee share scheme is lower than the current market value of the shares. Where this […]

Many family companies have been impacted by the Coronavirus pandemic with demand for their services reducing substantially. These companies may have a healthy bank balance representing accumulated profits although there may be a fear that, if the recovery is long and drawn out, these reserves will be depleted.   What would the tax position be […]

The current Coronavirus Pandemic may have caused many business owners to consider the often-difficult topic of exit and succession planning.  This frequently gives rise to a number of practical issues, especially where a trade sale is not likely, or the existing management team are perhaps not in a position to be able to raise sufficient […]

Fee Protection Insurance protects businesses and their advisers against an increasing number of HMRC enquiries. Every year HMRC carries out enquiries into the tax affairs of an increasing number of individuals and businesses in the UK. Fee Protection Insurance protects businesses and their advisers, and provides peace of mind, should you find yourself subject to […]

As the Coronavirus pandemic unfolds, the message we are hearing over and over is that cash flow is under pressure. The Government has inroduced the Coronavirus Business Interruption Loan Scheme (CBILS) to support businesses at this challenging time. The guide below explains the requirements of the scheme, and explains the information you need to provide […]

One perhaps unforeseen consequence of the current Covid-19 is that non-UK residents may be unable to leave the UK and therefore exceed their days spent in the UK. We have been asked by a number of clients and their advisors to clarify the position for individuals who may be affected. Tax Residence You may be […]

The government published initial guidance on 26 March 2020, and has updated its guidance a number of times since. The portal to claim the grant through, opened on 20 April 2020. This note has been updated since the opening of the portal. The Coronavirus Job Retention Scheme is a temporary scheme open to all UK […]

The government has announced a number of tax and financial measures to support businesses and individuals during the Coronavirus pandemic. Self-assessment tax payments scheduled for 31 July 2020 will be deferred until 31 January 2021. All self employed individuals are eligible and no applications are required. A VAT deferral will be in place for all […]

In response to Covid-19, the Chancellor has set out a ‘temporary’ package of measures to support businesses during this uncertain period. The package includes: A Statutory Sick Pay (SSP) relief package for SMEs Small-and-medium-sized businesses and employers, with fewer than 250 employees, will be able to reclaim SSP paid for sickness absence due to Covid-19, […]

Background  Although the UK is no longer a member of the EU, a transition period is currently in place until at least 31 December 2020. During this period, most EU laws including EU free movement rules, continue to apply in the UK. It remains to be seen how negotiations between the UK and the EU […]

The new Chancellor delivered his first Budget on 11 March 2020 against a backdrop of uncertainty over Coronavirus and Brexit. Large scale spending was announced, to be funded by increased borrowing. We summarise below some of the key tax measures. Please see more Information here:

Post Brexit Implications The 31 of January 2020 has come and gone and we have now officially left the EU and find ourselves in a limbo called the “transition period”. Whether for or against Brexit we now need to look to the future and plan as best we can for what is to come. VAT […]

They say ‘nothing is certain but death and taxes’ and as the end of one tax year approaches the inevitability of the next one begins. To try an ensure that you make the most of the few opportunities that exist to maximise your reliefs, allowances or exemptions we have set out below some tips that […]