The UK is to get its first Small Business Commissioner

Mar 01, 2017

A search is underway to recruit the UK’s first Small Business Commissioner.

The commissioner will be a high profile role supporting small businesses in payment disputes with their larger customers.

  • The…

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Tax Diary March/April 2017

Mar 01, 2017

1 March 2017 - Due date for Corporation Tax due for the year ended 31 May 2016.

2 March 2017 – Self Assessment tax for 2015/16 paid after this date will incur a 5% surcharge.

19 March…

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Tax free pensions advice

Feb 28, 2017

People planning their retirement will be able to withdraw up to £1,500 from their pension pots tax-free to pay for financial advice, under recent plans unveiled by the government.

 

The…

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Buy-to-let and the changing tax landscape

Feb 27, 2017

Buy-to-let property owners have been singled out in recent budgets for some quite draconian tax changes.

One of the most pervasive starts 6 April 2017. From this date, tax relief for the cost…

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Lifetime ISAs

Feb 20, 2017

A reminder that from 6 April 2017 Lifetime ISAs are available as an alternative tax-free investment.

The lifetime Individual Savings Account (ISA) is a longer term tax-free account that receives…

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Duty free limits

Feb 16, 2017

While we are members of the EU, it continues to be the case that there are no limits to the alcohol and cigarettes you can bring back to the UK. However, if customs officials believe you are bringing…

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All is fair, unless you expect HMRC to minimise your tax bill

Feb 14, 2017

Although HMRC refer to taxpayers as customers, and thereby suggest a degree of customer service, in the real world this rarely extends to offering “customers” pro-active tax advice.

Historically,…

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Wholly and exclusively

Feb 09, 2017

The title of this posting describes an important concept when considering claims for expenditure to reduce our tax bills.

By and large, HMRC will accept claims that have been expended wholly…

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A step closer to Making Tax Digital

Feb 08, 2017

We have advised readers in previous postings that HMRC seem to be intent on digitising the upload of small business accounting data from April 2018. From this date, affected self-employed traders (including…

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