Making Tax Digital - common sense prevails

Jul 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…

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Tax payments due 31 July 2017

Jul 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…

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Life in the Cloud

Jul 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…

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What is tax free these days

Jul 06, 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:

  • The…

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Sole trader or limited company

Jul 05, 2017

We are often asked to judge whether it’s better for a business to be run as a sole trader, or incorporated as a limited company.

The risk argument is fairly straight forward. If your trade or…

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Making Tax Digital - are we making progress

Jul 05, 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…

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Self-employed combined liability

Jul 05, 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…

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Landlords bear the brunt of recent tax changes

Jul 05, 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…

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McLaren racing team lose tax appeal

Jul 05, 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…

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