The following comments were written on the 13th March 2019 immediately following Philip Hammond’s presentation of the 2019 Spring Statement to Parliament. In theory, the Government uses the Spring Statement to respond to the most recent forecasts made by the Office of Budget...
2 months 1 week ago
According to government sources if you work a five day week, you are entitled to 5.6 weeks’ paid holiday a year. This is known as our statutory or annual leave entitlement.
At first sight, 5.6 weeks looks to be an odd number of days, but it refers to a normal working week of five...
2 months 1 week ago
As we take steps to disentangle ourselves from the EU and make our mark in the wider global economy this may be a good time to consider any brand recognition marks you may be using and give serious consideration to getting them registered.
There is a formal registration process...
2 months 2 weeks ago
It is a commonly held point of view that when you sell your home you won’t pay any tax, and in particular, that you won’t pay any Capital Gains Tax on the difference between the purchase and sales prices.
Unfortunately, there are circumstances when this is not true. For example, you...
2 months 2 weeks ago
1 March 2019 - Due date for Corporation Tax due for the year ended 31 May 2018.
2 March 2019 – Self assessment tax for 2017/18 paid after this date will incur a 5% surcharge.
19 March 2019 - PAYE and NIC deductions due for month ended 5 March 2019. (If you pay your tax...
2 months 2 weeks ago
As we have mentioned before in this newsletter, VAT returns filed for periods commencing on or after 1 April 2019, may need to be filed using the new Making Tax Digital (MTD) protocols. The new filing obligations will apply to VAT registered businesses with turnover above the current...
2 months 2 weeks ago
From April 2019, minimum pay rates will increase as set out below.
National Living Wage (NLW) rates for workers aged 25 and over - from £7.83 to £8.21 per hour.
National Minimum Wage rates:
workers aged 21–24 — from £7.38 to £7.70 per hour
workers aged 18–20 — from £5.90 to £6....
2 months 2 weeks ago
A reminder that if your business makes a loan to your employees or their relatives this can create tax problems for both employees and employers. And please don’t forget that the term “employee” includes directors, and also that loans to family members may be caught.
For example,...
2 months 2 weeks ago
It would seem that fraudsters, keen to relieve you of your hard earned cash, are switching to phone calls now that email scams are becoming less effective.
HMRC recently issued the following instructions to UK taxpayers and requested that we all assume a new level of vigilance. They...
2 months 2 weeks ago
Digitisation is simply the conversion of text, pictures, numbers and sound into a form that can be processed by a computer.
Add to this the replacement of feet on the ground with algorithms and programs that respond to certain criteria and we can start to see where the management of...
2 months 3 weeks ago
Pages
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The new State Pension https://t.co/eROC7qmiJC -
Tax-free gains 2019-20 https://t.co/t4pLwPMHRv
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HMRC and the National Minimum Wage rates https://t.co/wAHfD3k8lz
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Tax Diary May/June 2019 https://t.co/4hmQEFdAY5
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Income Tax - regional differences https://t.co/x5CGDAWmu7
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Do not forget the payslips https://t.co/fAAX8gv7ad
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Do you manage your own VAT returns? https://t.co/nfKSQ8U90h
