Simplified cash basis

Apr 06, 2017

For some time now, unincorporated businesses have been able to submit simplified accounts in order to settle their tax liabilities. The main advantage of using this system is that income and expenditure…

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Class 4 NICs

Apr 06, 2017

The Chancellor announced two increases in Class 4 NI contributions for the self-employed in his budget and in the following week withdrew the increases for the term of the current parliament.

His…

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Dividend tax set-back

Apr 06, 2017

The final matter we want to showcase for this month is the proposed reduction in the dividend allowance from April 2018. At present, shareholders with dividend income below £5,000 will pay no Income…

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Tax Diary April/May 2017

Apr 06, 2017

1 April 2017 - Due date for Corporation Tax due for the year ended 30 June 2016.

19 April 2017 - PAYE and NIC deductions due for month ended 5 April 2017. (If you pay your tax electronically…

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Working from home

Apr 05, 2017

Clients often ask if working from home is going to create issues from a tax point of view. There are a number of scenarios to consider.

Employers’ obligations to employee homeworkers:

Equipment,…

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One week to go

Mar 30, 2017

Next week sees the end of the 2016-17 tax year. On the 6 April 2017, any action you take to minimise your tax liabilities for 2016-17 will be largely ineffective. So what, if anything, can you still…

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New childcare funding choices

Mar 28, 2017

The government have launched a new website aimed at parents who may be able to claim for support with childcare costs.

The web address is https://www.childcarechoices.gov.uk/.

How…

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Follow companies for free

Mar 23, 2017

If you want to keep an eye on documents filed with Companies House for a particular company, you can register for a new service that will do just that at Companies House. The new service is called “Follow”…

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Reduction in the dividend allowance

Mar 21, 2017

Unless there are further political objections, one of the few remaining revenue raising changes in the recent spring budget was the reduction in the £5,000 dividend allowance from April 2018.

From…

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