A Guide to Budget 2017

The Chancellor Philip Hammond presented the Budget on 8 March 2017. In his speech he was keen to point out that he wanted the tax system to be fair, particularly in relation to the distinction between employed and self-employed individuals. He announced that he has requested a … [Read more...]

Changes To Tax Relief For Residential Landlords

From April 2017 changes to tax relief for residential landlords will be introduced. The tax relief that landlords of residential properties can claim for finance costs will be restricted to the basic rate of income tax of 20%. The change will be phased in over 4 years taking full … [Read more...]

What Can The Taxman Find Out About Your Taxable Income

HM Revenue & Customs have spent over £100 million on a new ‘Super Computer’ designed to catch those who have not paid the correct amount of tax. The new computer called ‘Connect’ gathers data from a wide range of sources and creates profiles of taxpayers’ income. The … [Read more...]

Free Seasonal Gifts & Benefits

Free Seasonal Gifts & Benefits With Christmas just around the corner here’s a quick reminder of some tax free seasonal gifts & benefits to cheer up your December and show your staff they're appreciated. Staff Entertainment & Christmas Parties Entertaining is not … [Read more...]

Autumn Statement 2016

The Chancellor, Philip Hammond, presented his first Autumn Statement today. However, there weren’t many surprises for small and medium sized businesses. The Autumn Statement was pitched as pro-business and aimed to reassure firms that the UK is open for business and ready for any … [Read more...]

New Dividend Tax

New Dividend Tax - Can I still save tax by operating through a limited company? An important question often asked by many small business owners is how to structure their business. A UK business can generally be structured as a sole trader, partnership or a company. Sole … [Read more...]

Budget Review 2016

Wednesday’s Budget was pitched as “A Budget for the next generation” and although some of the changes, such as the new dividend tax rules, had already been revealed in the Autumn Statement, there were still a few surprises such as a reduction in capital gains tax and corporation … [Read more...]

Tax Returns: Top Excuses For Late Filing

The taxman has revealed the top excuses it received from taxpayers for filing their tax returns late. From hungry rodents to broken washing machines, HMRC has published some interesting excuses that were all used in appeals against penalties. The excuses that hit the top ten list … [Read more...]