All VAT Returns must now be submitted under the new “Making Tax Digital” (MTD) system for anyone over the VAT registration threshold of £85,000. This means that you can no longer send your data via the old government gateway. If you have not already, you will need to...
OTS calls for simplifying everyday tax for smaller businesses A report by the Office of Tax Simplification (OTS) calls on the government to prioritise action to ‘address long-standing concerns about the experience of smaller businesses’. The report...
According to statistics published by HMRC more than 180,500 first-time buyers have benefitted from First Time Buyers Relief (FTBR). The relief introduced in November 2017 has saved eligible first-time buyers an estimated total amount of more than £426 million. Mel...
The government announced, as part of the Budget, that some changes are being made to the rules for Entrepreneurs’ Relief (ER) with immediate effect for disposals on or after 29 October 2018. Two new tests are to be added to the definition of a ‘personal...
The government has decided not to proceed with plans to abolish Class 2 National Insurance Contributions (NICs) from April 2019. Class 2 NICs are currently paid at a rate of £2.95 per week by self-employed individuals with profits of £6,205 or more per year. The...
New company car advisory fuel rates have been published which take effect from 1 September 2018. The guidance states: ‘You can use the previous rates for up to one month from the date the new rates apply’. The rates only apply to employees using a company...
