Salary sacrifice under the microscope

Dec 05, 2016

Salary sacrifice is a term applied to benefits taken in place of salary. In many respects these benefits provide employees with higher “take home” value than if the benefits were treated the same…

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Are you affected by changes to the VAT Flat Rate Scheme (FRS)

Dec 05, 2016

HMRC is to introduce an additional test that will determine the flat rate percentage used by traders. It would seem that HMRC presently considers the benefits obtained by certain businesses to be…

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Changes to NLW and NMW from April 2017

Dec 05, 2016

From April 2017, the National Living Wage (NLW) for the over 25s is being increased to £7.50 per hour. This is an increase from the current NLW rate set in October 2016 of £7.20 an hour. For the over…

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Tax Diary December 2016/January 2017

Dec 05, 2016

1 December 2016 - Due date for Corporation Tax due for the year ended 29 February 2016.

19 December 2016 - PAYE and NIC deductions due for month ended 5 December 2016. (If you pay your tax…

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Philip Hammonds last Autumn Statement

Dec 01, 2016

Philip Hammond surprised MPs when he ended his Autumn Statement by saying:

This is my first Autumn Statement as Chancellor. After careful consideration, and detailed discussion with the…

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Tax changes announced last week

Nov 29, 2016

Last week, Philip Hammond presented his first Autumn Statement to parliament.

In some respects, it was a bit of a damp squid as there were no stand-out revelations. However, there were a…

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Autumn Statement wish lists

Nov 23, 2016

Organisations across the UK have been publicising their wish lists for Philip Hammond’s first autumn statement later this week.

Amongst tax practitioners there seems to be a preference for…

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Buy to let lenders subject to new regulation

Nov 22, 2016

Just when it looked as if things couldn’t get any worse for prospective buy-to-let investors – in particular the gradual withdrawal of higher rate tax relief for finance charges – the Bank of England’s…

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The season to be merry

Nov 17, 2016

If you are involved in planning the staff Christmas party for your firm don’t forget to consider the income tax consequences. Here’s a short reminder of the points you should add to your check list.

The…

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