The Treasury Select Committee has reviewed the proposals for the introduction of “Making tax digital” (MTD) and have agreed with the various professional bodies that if the new systems are introduced too quickly there could be a disaster. It would significantly increase burdens on small businesses. In their report they comment that the overall benefits […]
Passing on the Family home & Downsizing
New inheritance tax rules for passing on the family home start on 6 April 2017 and many people have a New Year’s Resolution to either make a Will or update their Wills. This new relief should be taken into consideration when drafting your Will and we can work with your solicitor to make sure it […]
Tax Free Childcare Accounts to start 6th April 2017
New tax-free childcare accounts were announced in 2014 to replace the employer-provided childcare voucher scheme. Introduction has been delayed by legal disputes with organisations involved in administering the existing scheme, but the new accounts will at last be introduced on a trial basis in early 2017. The new scheme will then be rolled out across […]
Scaling Up
Increasing the scale of a business is easier said than done. If your business objective is to scale up, you need to consider the people aspects, strategy and financials. People make the firm People determine a company’s success, and hiring the right people is critical. Hiring a team of great people will help to solve […]
More Tax Free Allowances from 6th April 2017!
In addition to the current £5,000 tax free dividend allowance and the personal savings allowance of up to £1,000 there will be two further tax free allowances starting from 6 April 2017. These will be: A £1,000 Tax Free Allowance for Self-Employed income A £1,000 Rental Income Allowance These new allowances mean that individuals doing a […]
New higher VAT Flat Rate percentage
A new VAT flat rate of 16.5% applies from 1 April 2017 for “limited cost traders”. This is being introduced as HMRC believe that the current system is being abused by some businesses providing their labour but who have very few costs. The flat rate scheme was originally introduced as a simplification measure for small […]
More bad news for Public Sector Workers “Off Payroll”
In his Autumn Statement the Chancellor announced that the Government will implement significant changes to the taxation of workers providing their services to the public sector through their own company or via an agency. These new measures have now been included in draft clauses to be included in Finance Act 2017 which were issued for […]
Wearable Technology
Wearable technology is one of the biggest trends in IT and tech at the moment. The consumer market has embraced wearables such as smart watches and virtual reality headsets. However most businesses are still developing their strategies for making the most of the wearable technology trend. While attention to wearables is widespread, adoption is not. […]