We often hear of phishing scams involving apparent communication from HMRC. Phishing is the fraudulent act of emailing a person in order to obtain their personal or financial information such as passwords and credit card or bank account details. These emails often include a link to a bogus website encouraging you to enter your personal … Continue reading
Company car tax rises take effect The company car has continued to be an important benefit for many employees, despite increases in the taxable benefit rates in recent years. However, April 2018 saw the introduction of further changes affecting employer-provided cars, which could have a significant impact on your business motoring costs. Benefit-in-kind rates Company … Continue reading
OTS calls for ‘urgent review’ into how UK tax system affects businesses In a new report, the Office of Tax Simplification (OTS) has called for the government to carry out ‘urgent work’ in order to simplify the business tax system for UK firms. The OTS report focused on businesses owned by individuals and families, and … Continue reading
Research suggests 70% of individuals ‘unaware of inheritance tax nil-rate band’ Research carried out by Canada Life has suggested that a significant amount of individuals ‘do not know the threshold’ for the standard inheritance tax (IHT) nil-rate band. Canada Life found that 70% of those surveyed did not know the standard nil-rate band threshold, which … Continue reading
Businesses groups have voiced concerns over government proposals to amend the way in which EU imports will be treated following the UK’s withdrawal from the EU in 2019. Plans to change the VAT rules are included in the Taxation (Cross-Border Trade) Bill 2017-19, which is currently making its way through Parliament. The proposals could see … Continue reading
With the end of the 2017/18 tax year approaching, now may be the ideal time to think about strategies to help mitigate your tax liability. There are many different options to consider so do contact us for further advice. Reducing your personal tax liability… Are you making the most of your tax-free personal allowance (PA)? … Continue reading
The Head of the Treasury Select Committee, Nicky Morgan, has branded the sending of backdated business rates bills to small businesses in England and Wales as ‘particularly unfair’. Dubbed the ‘staircase tax’, businesses which occupy space on multiple floors of a communal commercial property now receive separate business rates bills for each floor they occupy, … Continue reading
The publication of Finance Bill 2017-19 ushers back in a raft of measures that had previously been dropped from Finance Bill 2017. One such measure is the forthcoming reduction in the Dividend Allowance, which is set to fall from £5,000 to £2,000 next April. With 2.7 million individuals in receipt of dividend income, many are … Continue reading
TAX READY With cloud-based technology becoming a feature of everyday life, businesses are wise to implement good, modern software and apps where possible. The right apps can simplify your life and work; improving efficiency and profitability (time is money)! So, continuing with our regular app recommendations, this month we’d like to recommend TAX READY – our very … Continue reading
Our brand new smartphone app – Tax Ready – is now available to download on Apple, Android and Windows devices! Created with business owners and managers in mind, Tax Ready provides key tax rates and convenient access to a range of useful tax tools, news and tips in one app. The app comes with tools such … Continue reading
