Follow companies for free

March 23rd, 2017

If you want to keep an eye on documents filed with Companies House for a particular company, you can register for a new service that will do just that at Companies House. The new service is called “Follow” and it allows you to receive email alerts. Follow lets you receive email alerts of company transactions. […]

Reduction in the dividend allowance

March 21st, 2017

Unless there are further political objections, one of the few remaining revenue raising changes in the recent spring budget was the reduction in the £5,000 dividend allowance from April 2018. From this date the allowance will drop to £2,000. This measure will increase the tax charge for investors with significant, quoted share portfolios and the […]

Making Tax Digital – a step closer

March 16th, 2017

Another matter that received some clarification last week was the government’s move to implement MTD for the self-employed from April 2018. When the scope of MTD was first published it was proposed that the self-employed (including unincorporated property businesses) would need to commence the quarterly upload of summarised accounts data, direct to HMRC’s digital accounts, […]

Self-employed NIC increase

March 14th, 2017

Although there was little of substance to Philip Hammond’s budget last week, one particular issue caused some political controversy. It was the proposal to increase the National Insurance contributions for the self-employed from 9% to 11% over a two-year period starting April 2018.   From this date, April 2018, the weekly Class 2 contributions will […]

Employment boost for older workers

March 10th, 2017

A new strategy is calling on employers to boost the number of older workers and ensure they are not writing people off once they reach a certain age, helping to build a country that works for everyone. It’s estimated that by mid-2030s people aged 50 and over will comprise more than half of the UK […]

Budget Statement 8 March 2017

March 9th, 2017

Personal Tax and miscellaneous matters Personal Tax allowance The personal allowances for 2017-18 is £11,500 (2016-17: £11,000). Transferrable allowances The maximum amount of free personal allowance that can be transferred between spouses is increased to £1,150 in 2017-18. Couples can only make a claim if one partner has spare personal tax allowance and the other […]

The budget crystal ball

March 8th, 2017

Today Philip Hammond will present his first budget to parliament; forecasting any changes he may be considering to the UK tax system is perhaps unwise. If he remains committed to austerity, anticipating any potential fall-out from the Brexit process and maintaining (or more likely slowing down) the repayment of national debt, it is difficult to […]

Marriage Allowance

March 8th, 2017

Although the financial impact of this allowance is relatively low, it is surprising that there has not been more uptake of the Marriage Allowance since its inception 6 April 2015. In fact, taxpayers that qualify can still backdate a claim for 2015-16 as well as make a claim for the current tax year, 2016-17. Marriage […]

Tax Diary March/April 2017

March 1st, 2017

1 March 2017 – Due date for Corporation Tax due for the year ended 31 May 2016. 2 March 2017 – Self Assessment tax for 2015/16 paid after this date will incur a 5% surcharge. 19 March 2017 – PAYE and NIC deductions due for month ended 5 March 2017. (If you pay your tax […]

The UK is to get its first Small Business Commissioner

March 1st, 2017

A search is underway to recruit the UK’s first Small Business Commissioner. The commissioner will be a high profile role supporting small businesses in payment disputes with their larger customers. The Commissioner appointment is an important measure in tackling late payment issues Expected to be based in Birmingham, the Commissioner will be a national champion […]