Finance Bill No2 2017
July 20, 2017

To accommodate the May 2017 election, the government rolled-over items in the Mach 2017 budget for consideration later this year.

HMRC have now confirmed that these “in abeyance” items from the March budget will be...

Read More...
Making Tax Digital – common sense prevails
July 18, 2017

Making Tax Digital (MTD) is the government’s latest attempt to fully digitise the process of collecting data from taxpayers so they can speed up the process of calculating how much tax you owe.

Until last week, we were facing...

Read More...
Tax payments due 31 July 2017
July 13, 2017

If you are self-employed, or registered for self-assessment, we are approaching “that” time of the year: your second instalment on account for 2016-17, is due for payment at the end of the month, 31 July 2017.

Any payment...

Read More...
Life in the Cloud
July 12, 2017

There seems to be a trend supporting the movement of our computer software and data to the “cloud”. Not the fluffy white variety, but servers that are based off-site.

Even our tax system is pushing us in that direction. If...

Read More...
What is tax free these days
July 6, 2017

Surprisingly, there is quite a lot. As long as you are resident in the UK for tax purposes you will probably qualify for the following tax reliefs and allowances for the 2017-18 tax year:

Tax Diary July/August 2017
July 5, 2017

1 July 2017 - Due date for Corporation Tax due for the year ended 30 September 2016.

6 July 2017 - Complete and submit forms P11D return of benefits and expenses and P11D(b) return of Class 1A NICs.

19 July 2017 - Pay Class 1A...

Read More...
McLaren racing team lose tax appeal
July 5, 2017

It is a well-established feature of previous judgements that a fine imposed to punish an organisation should not be treated as tax deductible – the tax relief secured would effectively share out the burden of the punishment with the rest...

Read More...
Landlords bear the brunt of recent tax changes
July 5, 2017

Recent budgets have done little to improve the financial position of landlords. One change stands out above the rest: the loss of higher rate tax relief on finance charges.

Many landlords have concentrated on growing their property...

Read More...
Self-employed combined liability
July 5, 2017

Whether you pay Income Tax or National Insurance, the effect on your cash flow is the same. The payments are a necessary part of our obligation to fund the activities of State, but the self-employed are often surprised that their bi-annual tax...

Read More...
Making Tax Digital – are we making progress
July 5, 2017

There is evidence that HMRC’s Making Tax Digital (MTD) implementation team are working with advisors and their clients to beta test the computer systems that will drive the quarterly upload process when it is timed to begin April...

Read More...