Property taxation – The changes keep on coming.
2016 saw a considerable number of property taxation changes hit the buy to let investor and unfortunately the changes don’t stop there. As from the 6th April 2016 the purchase of an additional residential property has been liable to a stamp duty supplement of 3% in addition to the current stamp duty land tax rate. […]
Continue ReadingMicro-trader Tax Breaks
Micro-traders are to benefit from new tax breaks! With effect from 6th April 2017, two new allowances will come into effect thanks to the rise in eBay trading and Airbnb. To try and remove some of the confusion that surrounds when a ‘hobby’ becomes a trade the government have announced two £1,000 allowances to be […]
Continue ReadingIs this the end of the tax return?
On the 15th August 2016, HMRC published one of their most controversial consultation documents in recent times, Making Tax Digital! The proposal put forward by HMRC is that from 2018 all businesses, the self-employed and landlords will be required to use software to maintain their business records and transmit this information to HMRC on a […]
Continue ReadingVAT flat rate scheme changes
Are you a ‘low cost’ trader? If you currently use the VAT Flat Rate Scheme then the changes announced by The Chancellor in the Autumn Statement may effect you. As from 1st April 2017 a new flat rate percentage category will be created for businesses with limited expenditure. All businesses that fall within this category […]
Continue ReadingSummary of Changes to IR35 (Intermediaries Legislation) in the Public Sector
The proposed changes to IR35 announced in the 2016 Budget will come into effect from April 2017 tadalafil tablets. ‘Public sector bodies and agencies will be responsible for operating the IR35 tax rules that apply to off payroll working in the public sector. The rules will remain unchanged in the private sector.’ Consultation on the […]
Continue ReadingFiling and Payment Deadlines including Penalties
Limited Companies The accounts for the first year of a new Limited Company need to be filed with Companies House within 21 months of the date of incorporation. Following on from this, annual accounts need to be filed within nine months of the accounting period end date. Penalties for late filing of accounts with […]
Continue ReadingAuto Enrolment – Entitled Workers
To see whether your staff falls into this category review our blog “Auto Enrolment – Worker Categories” An Entitled Worker has the right to join a pension scheme based on their level of earnings with you as an employer. They are not Automatically Enrolled into the scheme, and they are not legally entitled to be […]
Continue ReadingAuto Enrolment – Non-Eligible Jobholder
To see whether your staff falls into this category review our blog “Auto Enrolment – Worker Categories” A Non-Eligible Jobholder is not automatically enrolled into the Auto Enrolment Pension Scheme. They can opt-in to the pension scheme, and if this occurs they must make employee contributions at the minimum level, and the employer must also […]
Continue ReadingAutomatic Enrolment – Missed Deadlines
Have you passed your staging date? Have you just realised you have passed your businesses staging date? Have you realised a member or members of your staff have turned 22 and should have been automatically enrolled but haven’t been? Have you realised a member or members of your staff have earnt above the Automatic Enrolment […]
Continue ReadingAuto Enrolment – Eligible Jobholder
To see whether your staff falls into this category review our blog “Auto Enrolment – Worker Categories” An Eligible Jobholder is automatically enrolled into the Auto Enrolment Pension Scheme. There is a total minimum amount that must be legally contributed to the employee’s pension fund. An Eligible Jobholder can opt-out of the scheme, but can […]
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