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April 2019 – Tax Update and News in Brief

April 2019 – Tax Update and News in Brief

At last the clocks have gone forward, days are becoming longer and some warmth is in the air (well, almost, although it didn’t feel like that from the side lines of the football pitches I was at over the weekend!!). It is also the start of the new tax year, which means there are a number of updates to which Read the full article…


Pensions Auto Enrolment Contributions To Rise

21st March 2019 | Written by In Accountancy | Categories : Budget, Client Focus, HMRC, HMRC, News, Pensions and Payroll, Pensions and Payroll
Pensions Auto Enrolment Contributions To Rise

Minimum pension contributions are set to increase from 6 April 2019:   Duration   Employer minimum   Total minimum contribution   Current contributions   2%   5%   6 April 2019 onwards   3%   8%   The Pensions Regulator has produced guidance for employers on dealing with the increase including a letter template to advise employees of the change. Read the full article…


Spring Statement – March 2019 Overview

14th March 2019 | Written by In Accountancy | Categories : Brexit, Budget, Business, Client Focus, HMRC, Miscellaneous, News, Tax
Spring Statement – March 2019 Overview

Introduction When we write these reports on the chancellor’s Budget speeches – and, more latterly, his Spring Statements – we always try and put them in the relevant political and economic context. This year it is impossible not to put the Spring Statement in a political context. On Monday night, the Prime Minister flew to Strasbourg and yet another meeting Read the full article…


Brexit VAT Update

28th February 2019 | Written by In Accountancy | Categories : Accounts, Brexit, Budget, Business, HMRC, Limited Companies, News, VAT
Brexit VAT Update

Brexit VAT Update: While you may be rather bored of Brexit dominating the news at present, we thought it important to try to cut through the noise and give you some really clear bullet points on how a ‘no deal’ Brexit might impact you, particularly relating to your VAT processes if you import and export within the EU. Please note, Read the full article…


Protect Your Pension Pots

11th February 2019 | Written by In Accountancy | Categories : Budget, Business, Client Focus, HMRC, HMRC, Miscellaneous, Pensions and Payroll, Pensions and Payroll
Protect Your Pension Pots

The Insolvency Service has urged individuals saving for retirement to protect their pension pots from criminals and ‘negligent trustees’. Research carried out by the Service found that criminals use a range of tactics to convince savers to part with their funds, including persuading individuals to access their pension and invest in unregulated schemes. Pension scam victims lost an average of Read the full article…


Spring Statement Date Announced

8th February 2019 | Written by In Accountancy | Categories : Budget, Business, HMRC, HMRC, Miscellaneous, News
Spring Statement Date Announced

The Chancellor of the Exchequer, Philip Hammond, has announced that the government will respond to the forecast from the Office for Budget Responsibility (OBR) in the Spring Statement on Wednesday 13 March 2019. The Chancellor may take the opportunity to announce tax changes and consultations. We will update you on pertinent announcements. Internet link:  GOV.UK news


Advisory Fuel Rates For Company Cars

24th December 2018 | Written by In Accountancy | Categories : Budget, Business, HMRC, Miscellaneous, News
Advisory Fuel Rates For Company Cars

New company car advisory fuel rates have been published which took effect from 1 December 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 car. The advisory fuel rates for journeys undertaken on or after 1 December 2018 are: Read the full article…


Discounting – Christmas Deals or Don’ts??

13th December 2018 | Written by In Accountancy | Categories : Budget, Business, Client Focus, Limited Companies, Miscellaneous, News
Discounting – Christmas Deals or Don’ts??

It’s that time of year again when everyone is getting excited for the bargains they might find in the January sales, which if you ask me have been getting earlier and earlier in recent years. But if you’re in business and are participating in the sales season, be it the recent Black Friday, Cyber Monday, Shop Local Saturday, Boxing Day or Read the full article…


Entrepreneurs’ Relief Changes

21st November 2018 | Written by In Accountancy | Categories : Budget, Business, Client Focus, HMRC, News
Entrepreneurs’ Relief Changes

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 company’, requiring the claimant to have a 5% interest in both the distributable profits and Read the full article…


Capital Allowances Changes (update with 30 second video)

18th November 2018 | Written by In Accountancy | Categories : Budget, Business, HMRC, News
Capital Allowances Changes (update with 30 second video)

A number of changes to capital allowances were announced at the Budget, including an increase in the Annual Investment Allowance (AIA), for two years to £1 million, in relation to qualifying expenditure incurred from 1 January 2019. The AIA is currently £200,000 per annum. Complex calculations may apply to accounting periods which straddle 1 January 2019. Other changes to the Read the full article…