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Are you ready for making tax digital ?

WHAT IS MAKING TAX DIGITAL AND WHY DO I NEED TO WORRY ABOUT IT ? Making Tax Digital (MTD) is the tagline for a group of major changes HMRC is making to the way tax payers process their tax affairs, the plan being that eventually every individual/business will have their own personal tax account maintained … Continued

Do I need an accountant?

Most people in any business, including sole-traders, know that they need an accountant, but perhaps do not realise what added value one can give. An article published in the online version of the Halifax Courier is intended to explain the benefits of having a good accountant and gives a few tips on what to look … Continued

Auto Enrolment Pensions

Auto Enrolment Pensions – From 6 April 2018 the minimum employers have to contribute into their staff’s pensions goes up from 1% to 2%. At the same time the staff’s.minimum contributions will go up from 1% to 3%. In April 2019 there will be further increases which will bring employer contributions up to a minimum … Continued

Budget 2017: changes for buy to let and corporate landlords

Indexation allowance is to be withdrawn and will be frozen at 31 December 2017. Under existing rules companies have been able to claim an indexation allowance which takes account of inflation and reduces the capital gain when disposing of property. This is heading in the direction of bringing corporate ownership taxation of gains more in … Continued

Making Tax Digital

Incorporated businesses and landlords will no longer have to keep digital records and file quarterly for income tax purposes from April 2018 as originally planned. Instead and commencing April 2019, businesses with an annual turnover above the VAT threshold will be required to keep digital records and submit quarterly online returns for VAT purposes only. … Continued

Changes to paying HMRC

From 15 December 2017 the pay at the Post Office service is being withdrawn. From 13 January 2018 HMRC will no longer accept payment by personal credit cards. Debit cards and corporate credit cards will continue to be accepted. There are still many ways to pay including: Direct debit Online or telephone banking Debit/Corporate credit … Continued