The start of April brings changes to a number of tax rates and bands… Allowances Personal Allowance – the personal tax free allowance for UK residents has increased to £12,500. Higher Rate Threshold – the higher rate tax threshold for UK residents has increased to £37,500 (£50,000 including personal allowance). Dividend Allowance Reductions – the…

Date posted: April 5, 2019 | Author: | No Comments »

Categories: Accountancy Tips Payroll and Accounting Tips

The government’s plan to digitise tax for everyone in the UK begins in April 2019 with MTD for VAT. The new rules will require businesses with a taxable turnover above the VAT threshold (£85,000) to store financial records digitally and submit VAT returns from MTD-compatible accounting software. You can read more about MTD for VAT…

Date posted: March 8, 2019 | Author: | No Comments »

Categories: Accountancy Tips Payroll and Accounting Tips

April brings the start of a new tax year and whether you currently use spreadsheets, a desktop/online accounting system or dare I say still using a pencil and paper, if you have been thinking about switching to a better system now is the perfect time! With HMRC looking to widen the scope of MTD in…

Date posted: February 8, 2019 | Author: | No Comments »

Categories: Accountancy Tips

Did Father Christmas bring you everything you wanted this year? The car that’s been your screen saver for like forever? The holiday your kids will remember forever? The dream kitchen you want for the house? ….. No?? Well I guess you didn’t write that letter soon enough in 2018!! This year why not write your…

Date posted: January 4, 2019 | Author: | No Comments »

Categories: Accountancy Tips Payroll and Accounting Tips Payroll Tips

Tax Relief brings some Christmas Cheer! As the Christmas season is rapidly approaching here’s a quick reminder of what is tax deductible and what isn’t! Christmas Parties The rules on Christmas parties depend on who is invited… Staff – the main tax implication of staff Christmas parties is whether you need to report the cost…

Date posted: November 23, 2018 | Author: | No Comments »

Categories: Accountancy Tips Payroll and Accounting Tips

Last month HMRC published further information on MTD (Making Tax Digital) to support businesses and agents in the run up to the start of the mandatory MTD VAT service from April 2019. As part of Making Tax Digital, businesses registered for VAT with a taxable turnover above the VAT registration threshold of £85,000 will need…

Date posted: August 3, 2018 | Author: | No Comments »

Categories: Accountancy Tips