Important changes are afoot from April 2017 if you are a contractor undertaking work for public sector clients. And if caught out by them, you could face higher tax bills than you may be used to. Continue reading
Despite being an avid football fan (did you know that?), I don’t think I’ve ever indulged myself by devoting space in my blog to this passion. But an article I read a couple of weeks ago, about the recent tax fraud trial of Messi and his father in Spain, struck a chord. Continue reading
From 30th June, the annual return is defunct, replaced by a Confirmation Statement. You will still use the Companies House (CH) online service to confirm the details held about your company, BUT there will be a number of differences which it’s really important to prepare for. Continue reading
The end of one tax year, and beginning of the next is always a time of change when it comes to tax, but this time round it seems more significant than at any time over the last 10 years. Here’s a quick run-through of the major issues for our client base….
Here’s a quick digest of the main announcements relevant to small business from November’s Autumn Statement, plus a recap of previous announcements coming into force early in 2016. Continue reading
If you have an investment property, or are thinking of entering the buy-to-let market at some point, this one is for you! Continue reading
For owner / managers of small limited companies, taking a minimal salary and then larger dividends, a major change is about to occur from April 2016. Whereas currently any dividends taken which maintain your personal income within the basic rate band (approx. £42k total earnings) are effectively tax free, in future you will have a personal tax bill to pay. Continue reading
For our initial summary / reaction to the budget, click on this link Issue 36 Budget v2 2015.
The tax-free personal allowance is now £10,600 (was £10,000) but remember employee NICs of 12% start at £8,060.
Higher rate tax starts at £42,385.
At £100,000 the £10,600 personal allowance is gradually reduced and completely taken away at £120,000—marginal tax rate is 60% in this band!