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If you think that this a month late then consider the position that we, and all other accountants, have been in over Christmas and New Year, and up to 31st January. (And yes. We will get to Making Tax Digital (“MTD”) later). Just before Christmas we had 200 clients with tax returns outstanding. By the … Continue reading Happy New Year!
The new Chancellor of the Exchequer, Philip Hammond, has just presented his first Autumn Statement, and he will follow this next March with his first Spring Budget. They will also be his last, as in 2017 the budget will be an Autumn Budget, to be followed by a Spring Statement. To quote Del Boy – … Continue reading The Autumn Statement Summary
Is it worth participating in a tax avoidance scheme? If you thought so before then you may change your opinion after seeing certain developments over the next few months. Like all accountants we are frequently asked how tax can be avoided. Like most accountants we will review a client’s affairs to ensure that they are … Continue reading Why Tax Avoidance Schemes Are Best Avoided
Firstly, we had the National Minimum Wage. Then we got the National Living Wage, meaning presumably that the law did not require employers to pay a wage that people could live on. However, both the National Living Wage and the National Minimum Wage will increase from April 2017, and hopefully this will see the end … Continue reading Increases in the National Minimum and Living Wages
The Autumn Statement included a number of anti-avoidance measures. The one that will probably affect the greatest number of our clients and other small businesses is the announcement of a new VAT Flat Rate of 16.5% from April 2017. Many businesses that deal primarily with VAT registered customers have registered for VAT to take advantage … Continue reading Changes to the VAT Flat Rate Scheme