Damage limitation

May 17, 2017

The phrase “in-limbo” comes to mind when describing the present outlook for businesses in the UK. What will be the outcome of the June election? What will be the outcome of the withdrawal from the EU?

We…

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What is the current tax position when dividends are taken

May 15, 2017

One of the most useful ways for owner directors of small companies to reduce their overall tax and NIC costs is to pay themselves a reduced salary – just enough to maintain their State benefits entitlements…

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The new Criminal Finances Bill

May 11, 2017

New legislation to increase the powers of law enforcement received Royal Assent 27 April 2017.

The Criminal Finances Act 2017 will give law enforcement agencies and partners, further capabilities…

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Change in accounts filing for small companies

May 10, 2017

Small companies are required to file a copy of their end of year accounts with Companies House. In the past, it has been possible to file abbreviated accounts – basically, a few notes and a Balance…

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Under 4 year olds now eligible for tax-free childcare

May 05, 2017

The government have issued the following press release regarding the roll-out of the new tax-free childcare scheme:

From 21 April 2017, working parents can start applying for two new government…

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Finance Bill reduced

May 04, 2017

In order to ensure that the Finance Bill 2017, introduced March 2017, is passed before the impending general election, huge chunks of the original, published bill have been removed. In the national…

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Expenses and benefits for employees

May 02, 2017

Until 2015-16, it was possible to apply for a dispensation to exclude certain expenses and benefits provided to employees from the year end returns to HMRC: primarily the submission of forms P11D. These…

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All change for driving instructors and learner drivers

May 02, 2017

Driving instructors will have a tough time this year. Many are sole traders and will need to start changing their record keeping to accommodate the challenges of Making Tax Digital, either April 2018…

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Beneficial loans to employees

May 02, 2017

In many cases, making loans to your employees or their relatives can create an obligation to report a beneficial loan to HMRC. The deemed benefit would be a taxable benefit in kind for the relevant…

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