Welcome to our monthly newswire designed to keep you informed of the latest business and tax issues. Please contact us if you have any questions. Remember, we’re here to help.

Making Tax Digital

HMRC have issued a series of consultation documents outlining further plans for the government’s Making Tax Digital initiative.

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Tax Free Childcare

HMRC have announced further details of the new Tax Free childcare scheme which is to be introduced in 2017.

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Deadline for ‘paper’ self assessment tax returns

For those individuals who have previously submitted ‘paper’ self assessment tax returns the deadline for the 2015/16 return is 31 October 2016.

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Increase in National Minimum Wage rates

The National Minimum Wage (NMW) is a minimum amount per hour that most workers in the UK are entitled to be paid. NMW rates increases come into effect on 1 October 2016.

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VAT claim on company cars allowed

HMRC recently lost a first tier tribunal case on the recovery of VAT on the purchase of six cars.

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Updated guidance on Gift Aid

HMRC have updated their guidance for charities and community amateur sports clubs on claiming Gift Aid on donations.

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Lifetime ISA

Following consultation the government has issued further details of the new Lifetime ISA account which is expected to be available from April 2017.

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