News


Newsletter and Updates for June 2018

May 31st, 2018

Please follow these links to our Insider Newsletter for June that looks at the new ban on landlords charging certain fees to tenants, businesses calling for more government support, HMRC deferring the launch of digital accounts for individuals and the deadline for reporting benefits in kind which is fast approaching:

Insider June 2018 >

and our latest topical updates:

Travel and Subsistence >

Understanding IR35 >


Newsletter and Updates for May 2018

April 30th, 2018

Please follow these links to our Insider Newsletter for May that looks at the smallest firms being hit by higher pension costs, late payments still affecting almost half of small businesses, selected businesses starting Making Tax Digital testing and the lack of funding that is holding back 1 in 4 SMEs:

Insider May 2018 >

and our latest updates:

Company Cars - what's new for 2018/19? >

Personal Tax Planning - how to reduce the tax you owe >


Newsletter and Updates for April 2018

March 29th, 2018

Please follow these links to our Insider Newsletter for April that looks at a major thinktank's call for reform of our "inefficient" tax system, the growth in the number of self -employed workers, the lack of readiness for the Data Protection shake-up and the popularity of apprenticeships among small businesses:

Insider April 2018 >

and our latest updates:

Clipping the Wings of Phoenix Companies looking to benefit from Entrepreneurs' Relief >

From Sole Trader to Limited Company >


New Tax Card for 2018/19

March 21st, 2018

Here is a link to our tax card for 2018/19 giving you all the rates, bands and allowances you will need for the new tax year:

Tax Card 2018/19 >


Spring Statement 2018

March 14th, 2018

Here is a link to a summary of the Chancellor's Spring Statement, a "statement with very few announcements":

Spring Statement 2018 >


Newsletter and Updates for March 2018

February 28th, 2018

Please follow these links to our Insider Newsletter for March that looks at auto-enrolment compliance exceeding 1 millions employers, a records £22billion in exports for food and drink firms, the scale of taxpayer reclaims from HMRC and the number of late filing penalties following the recent tax return deadline:

Insider March 2018 >

and our latest updates:

Cash Basis for Landlords >

Tax and Employee Benefits >


Newsletter and Updates for February 2018

February 2nd, 2018

Please follow these links to our Insider Newsletter for February that looks at the Government's move to scrap the controversial "staircase tax", most small businesses are not ready for digital accounts, fraudsters targeting over-65s in gift card tax scam and the ban on charging credit card fees:

Insider February 2018 >

and our latest updates:

The Devolution of Taxes within the UK >

Termination Payments >


Year End Tax Guide

January 22nd, 2018

Here is a link to our Year End Tax Guide for 2017/18 giving you the rates, reliefs and allowances to use before 5th April 2018:

Year End Tax Guide 2017/18 >


Newsletter and Updates for January 2018

January 3rd, 2018

Please follow these links to our Insider Newsletter for January that looks at the end of Disincorporation Relief in March 2018, the skills gaps face by small businesses, you can no longer use your personal credit card to pay your tax bill and the rise in the number of businesses to 5.7million:

Insider January 2018 >

and our latest updates:

Gifting to Charity >

HMRC Investigations >


Newsletter and Updates for December 2017

November 30th, 2017

Please follow these links to our Insider Newsletter for December that looks at a number of topical issues, including the VAT threshold frozen until 2020, abolishing Class II NICs delayed for another year, claims for R&D Tax Credits hitting an all time high and a quick round-up of the Autumn Budget:

Insider December 2017 >

and our latest updates:

Limited Company Accounts >

Self Assessment Online >


Autumn Budget 2017

November 23rd, 2017

Here is a link to the Chancellor's first Autumn Budget, in place of recent Autumn Statements:

Budget Report >


Newsletter and Updates for November 2017

October 31st, 2017

Please follow these links to our Insider Newsletter for November that looks at a number of topical issues, including under-25s missing out on the NMW, late payments still affecting SMEs, cautious businesses delaying investment and the Apprenticeship Levy leaving firms baffled.

Insider November 2017 >

and our latest updates:

Measuring Business Performance>

Patent Box >


Newsletter and Updates for October 2017

September 29th, 2017

Please follow these links to our Insider Newsletter for October that looks at a number of topical issues, including a reminder of the deadline for filing paper tax returns, rents rises being fueled by buy-to-let regulations, sole traders exposed to cash crises and a round up of the Finance Bill 2017-19:

Insider October 2017 >

and our latest updates:

Managing Automatic Re-enrolment >

VAT and Three-Party Transactions>


Newsletter and Updates for September 2017

August 31st, 2017

Please follow these links to our Insider Newsletter for September that looks at a number of topical issues, including the need for high value dealers to register for cash payments, the effect of the rising National Living Wage on SME profits, recruiters working harder to fill vacancies and a reminder for businesses to prepare for the Data Protection Bill:

Insider September 2017 >

and our latest updates:

The Family Home Allowance for IHT >

Payroll issues for Employers >


Newsletter and Updates for August 2017

July 28th, 2017

Please follow these links to our Insider Newsletter for August that looks at a number of topical issues, including sick pay being valued over other benefits, the lack of funds holding back start-ups, important changes to PSC notification and approval from businesses for the Prompt Payment Code:

Insider August 2017 >

and our latest updates:

Buy-to-let Property >

Managing the Digital Revolution >


Newsletter and Updates for July 2017

June 30th, 2017

Please follow these links to our Insider Newsletter for July that looks at a number of topical issues, including HMRC being urged to extend Executors' IHT deadline, rejected contracts hitting SMEs in the pocket, a reminder of the deadline for the second payment on account and businesses preparing for data protection changes:

Insider July 2017 >

and our latest updates:

Planning your Retirement >

Salary or Dividend >


Newsletter and Updates for June 2017

May 31st, 2017

Please follow these links to our Insider Newsletter for June that looks at a number of topical issues, including the expenses and benefits deadline that is looming, employment law rights that employers are backing, firms planning to offset rising costs and staff fears of having to work beyond 65:

Insider June 2017 >

and our latest updates:

CGT Planning >

Lifetime ISAs >


Newsletter and Updates for May 2017

April 28th, 2017

Please follow these links to our Insider Newsletter for May that looks at a number of topical issues, including the reporting of the gender pay gap for larger companies, the digital skills shortage hampering business growth, the misunderstood ISA rules and the IR35 changes for public sector contractors:   

Insider May 2017 >

and our latest updates:

Personal Tax Planning >

Investing in Small Companies >


Newsletter and Updates for April 2017

March 31st, 2017

Please follow these links to our Insider Newsletter for April that looks at a number of topical issues, including the lack of funds preventing business opportunities, the National Minimum and Living Wages rise from 1st April, the business rates revaluations taking effect and some important dates and changes for April 2017:  

Insider April 2017 >

and our latest updates:

Employee Benefits >

Improving Cashflow >


Tax Card for 2017/18

 March 17th, 2017

Please follow this link to download a complementary summary of all the main tax rates and allowances and an explanation of their application and various relevant dates:

Tax Card for 2017/18 >

We also have a supply of printed cards in a format that folds neatly down to wallet size that we are happy to send out to anyone.  If you haven't received one already and would like one, please let us know and we'd be happy to post one out to you.


Budget Report 2017

March 9th, 2017

Please follow this link to our complimentary report on the highlights from Philip Hammond's first full Budget presented yesterday.

Budget Report March 2017 >

He was in a jovial mood, poking lots of fun at the opposition, but presented a speech full of optimism about the UK economy. He confirmed a number of aspects previously announced, for instance the various tax rates and allowances for 2017/18, but he also added a few measures of note to us and our clients:

II - A further attack on the perceived inequalities between the employed and the self-employed by way of increased Class IV NICs in April 2018 and again in April 2019. We were expecting something like this, especially with the abolition of Class II NICs from April 2018, and must expect further measures in this vein, as the tax regime is seen to be unfairly favouring the self-employed, but they're missing the extra risk of running your own business - you don't have a guaranteed salary at the end of each month!

III - The reduction in the nil rate band for dividends from £5,000 to £2,000, targeting the self-employed who operate through their own limited company. The common practice of low salary topped up by dividends that don't attract NICs is perceived as one of those inequalities to be attacked.

IV - There was much talk of the unfairness of the new Business Rates valuations being rolled out at present, with some measures to tackle some of those affected most.  Any revisions must be fiscally neutral, but inevitably there will be winners and losers. Let's see how the figures work out for you, as many smaller businesses should end up with some protection.

Please have a good look through this report and do call us if there's anything in there upon which you would like any further explanations.


Newsletter and Updates for March 2017

February 28th, 2017

Please follow these links to our Insider Newsletter for March that looks at a number of topical issues, including the preparation of Making Tax Digital, pensioners staying in work driving up retirement income, the late payment regulations to support SMEs and the approaching Apprenticeship Levy:  

Insider March 2017 >

and our latest updates:

Trusts and Tax Planning >

Residence and Domicile >


Year End Tax Guide 2016/17

 February 3rd, 2017

We have prepared this small booklet as an aide memoire to flag up some of the matters we should all be thinking about prior to the end of the tax year on 5th April 2017. Make sure you maximise your use of the reliefs and allowances available for the tax year 2016/17.

Year End Tax Guide 2016/17 >

Let us know if this raises any issues for you and let us guide you through any action you may need to take in the next couple of months. 


Newsletter and Updates for February 2017

January 31st, 2017

Please follow these links to our Insider Newsletter for February that looks at a number of topical issues, including the expected rise in SME borrowing in 2017, the rise in retired household income, financial concerns affecting worker performance and small firms paying above the minimum pension contribution:  

Insider February 2017 >

and our latest updates:

R&D Tax Credits >

Exporting for Small Businesses >


Newsletter and Updates for January 2017

January 5th, 2017

Please follow these links to our Insider Newsletter for January that looks at a number of topical issues, including a reminder about your Self Assessment deadline at the end of this month, a look at a few tax changes for 2017/18 coming in from April and specifically the changes to the Flat Rate Scheme for VAT for "limited cost traders": 

Insider January 2017 >

and our latest updates:

Business Finance >

Define Contribution Pensions and Tax >


Newsletter and Updates for December 2016

December 2nd, 2016

Please follow these links to our Insider Newsletter for December that looks at a number of topical issues, including the alternative routes to finance for small businesses, the business rate changes from April 2017, the amounts invested in workplace pensions and a quick round-up from the Autumn Statement on 23rd November:

Insider December 2016 >

and our latest updates:

Property Income and Tax >

Self Assessment >


Autumn Statement 2016

November 24th, 2016

Please follow this link to our summary of the main announcements in Philip Hammond's first Autumn Statement as Chancellor.  Many of the previous Chancellor's targets and policies have been abandoned and it's all about stimulating the economy for the uncertain times ahead.

Autumn Statement Summary >


Newsletter and Updates for November 2016

October 31st, 2016

Please follow these links to our Insider Newsletter for November that looks at a number of topical issues, including the huge cost of pension reforms, businesses lacking export ambition, higher earning parents using flexible working and some expectations for the Autumn Statement on 23rd November:

Insider November 2016 >

and our latest updates:

Inheritance Tax and the new Residence Nil Rate Band >

Starting a Business >


Newsletter and Updates for October 2016

September 30th, 2016

Please follow these links to our Insider Newsletter for October that looks at a number of topical issues, including the size of HMRC's Corporation Tax receipts, the uncertainty over residency status for EU workers, the launch of tax-free childcare in 2017 and the approaching deadline for paper tax returns:

Insider October 2016 >

and our latest updates:

Employee benefits and rewarding your staff >

VAT after Brexit >


Newsletter and Updates for September 2016 

August 31st, 2016

Please follow these links to our Insider Newsletter for September that looks at a number of topical issues, including the apprenticeship funding proposals, property wealth exceeding savings and pensions, the new National Minimum Wage rates from 1st October and the growth in Inheritance Tax receipts:

Insider September 2016 >

and our latest updates:

National Insurance planning >

Personal financial planning >


Newsletter and Updates for August 2016 

July 29th, 2016

Please follow these links to our Insider Newsletter for August that looks at a number of topical issues, including the new system to challenge business rates, the growing number of part-time self-employed, the success of the new Help to Buy ISAs and the amount of time small firms spend chasing payments:  

and our latest updates:

Audits and accounts >

Gifts and Inheritance Tax >


Newsletter and Updates for July 2016

June 30th, 2016

Please follow these links to our Insider Newsletter for July that looks at a number of topical issues, including the software that businesses will require for digital tax accounts, a reminder that your second payment on account is due next month if you fall under Self Assessment, the value that employees place on a steady income and a warning that many workers are not planning for their retirement:  

Insider July 2016 >

and our latest updates:  

Extracting Profits from your Business >

Lifetime ISAs >


Newsletter and Updates for June 2016

May 31st, 2016

Please follow these links to our Insider Newsletter for June that looks at a number of topical issues, including the need to keep a People with Significant Control (PSC) register, the easing of buy-to-let activity after the introduction of the new SDLT rates on 1st April 2016, how to trace lost pension pots and the growing divide between businesses that embrace digital technology and those that do not: 

Insider June 2016 >

and our latest updates: 

Capital Gain Tax Planning >   

Auto-enrolment for Businesses >   


Newsletter and Updates for May 2016 

April 29th, 2016

Please follow these links to our Insider Newsletter for May that looks at a number of topical issues, including the reporting obligations that charities are unaware of, the abolition of employers' NICs for apprentices, the changes to CGT for 2016/17 and a look at whether the Lifetime ISA is right for you:

Insider May 2016 >

and our latest updates:

Estate Planning >  

Running a Company Car Scheme >  


Newsletter and Updates for April 2016 

March 31st, 2016

Please follow these links to our Insider Newsletter for April that looks at a number of topical issues, including the lack of management skills that is limiting business growth, the uptake on the Help to Buy scheme, employers' responsibilities regarding the national living wage and various business announcements from the 2016 Budget:

Insider April 2016 >

and our latest updates:

Personal Tax Planning > 

Succession Planning for a Family Business >  


BUDGET 2016

March 17th, 2016

Please follow this link to our complimentary summary of the announcments made in George Osborne's Budget yesterday:

Budget summary >

In spite of the usual flow of leaks and pre-announcements, the Budget contained more than its fair share of surprises.

If you watched the speech you may have noticed that the BBC's commentary was rather biased against the Chancellor - at times they didn't seem to be listening to the same speech that I was!  Despite the marginal downgrading of the growth forecasts for the UK, which is inevitable given the state of the world's economy, the outlook appears good with the deficit expected to reduce and eventually turn into a surplus, albeit a bit of a way off and with lots of factors potentially affecting it.

There was some interesting encouragment for savers and investors, with the increase in the ISA allowance for 2017/18 onwards and the introduction of the Lifetime Investment Savings Allowance available for the under-40s, which will attract the same basic rate top-up as pension contributions have enjoyed to date.

For business, despite the attack that we already knew about on small owner-managed businesses and in particular on the personal service business (contractors operating through a limited company), including the extra tax on dividends and the removal of deductions for certain travel and subsistence expenditure, there were some tasty give-aways: the extension to Business Rates Relief is a welcome and valuable contribution for many small businesses and illustrates the pressure that the Chancellor has been under from small businesses to date; the 8% reduction in Capital Gains Tax was a real surprise, especially as there was much hype about Members' Voluntary Liquidations to benefit from Entepreneurs Relief being targetted for anti-avoidance; and the further reduction of the main rate of Corporation Tax to 17% on 2020, and for ALL companies, large and small, is a real stimulus to attract big business to the UK - the Chancellor stressed in his speech that new procedures would ensure that multi-nationals would pay their fair share of tax on income derived within the UK, an important measure in light of the attractive reduced CT rates.

All in all there are some interesting times ahead and it's not all doom and gloom as the BBC would have you believe.  We're just about to embark upon a new Tax Year with some unfamiliar rates and rules for us all to get a grip of, so it's more important than ever to plan ahead - do get in touch if you'd like us to help you look at your own circumstances...... and then, no sooner have we caught up with that, than we have the rather more significant spectre of the Referendum on our membership of the EU to consider - potentially turbulent times ahead indeed!


Newsletter and Updates for March 2016

February 29th, 2016

Please follow these links to our Insider Newsletter for March that looks at a number of topical issues, including the removal of pension freedom barriers, the lack of focus in the Government's spending plan, the growth of the self-employed workforce and the "real test" ahead for auto-enrolment.

Insider March 2016 >

and our latest updates:

Business Update - Salary or Dividend? >

Personal Update - Residence and Domicile >


Newsletter and Updates for February 2016

February 1st, 2016

Please follow these links to our Insider Newsletter for February that looks at a number of topical issues, including the digital tax accounts to replace your annual tax return, the capping of early pension exit fees and the lack of flexible working that is hampering employers.

Insider February 2016 >

and our latest updates:

Business Update - Minimising Corporation Tax >

Business Update - Travel and Subsistence >


Year End Tax Guide 2015/16

February 1st, 2016

No sooner have we passed the Tax Return filing deadline for 2014/15 than we need to start thinking about what needs to be done before the end of the next tax year on 5th April 2016. There's no rest for any of us!

Make sure you flick through this handy little guide to check that you have not overlooked anything.  We all need to take maximum advantage of the reliefs and allowances available to us for the tax year 2015/16.

Year End Tax Guide 2015/16 >


Newsletter and Updates for January 2016

January 6th, 2016

Please follow these links to our Insider Newsletter for January that looks at a number of topical issues, including the national living wage coming into effect on 1st April 2016, the popularity of "Help to Buy" ISAs, a guide to the new state pension and confirmation that the Finance Bill 2015 has passed through parliament.

Insider January 2016 >

And our latest updates:

Business Update - Choosing a Business Structure >

Personal Update - Retirement Planning >