Archive for the ‘Tax’ Category

Deregistering for VAT

Posted on: November 1st, 2018 by Linda Strange No Comments

When and how to begin the process of deregistration.

These days VAT thresholds are the subject of much speculation, with the Government concerned that many business owners deliberately choose to stay below the VAT-registration threshold.

Limiting your ambition in this way might seem counter-intuitive – surely you want your business to get as big as possible? (more…)

Fiscal Phil’s Pre-BREXIT Budget

Posted on: October 30th, 2018 by Sarah Curzon No Comments

The pre-BREXIT budget has come with the message that the era of austerity is finally coming to an end.  With many of the key Budget spending promises already announced prior to today’s speech we were left with a raft of tax changes none of which were really expected. (more…)

Making VAT Digital (MVD) Update

Posted on: October 17th, 2018 by Liz Maher No Comments

Implementation Change for Specific Sectors

What has changed:

HMRC issued a policy paper yesterday to advise of their decision to delay the mandatory date for digital submission of their VAT Return from the 1 April 2019 to the 1 October 2019.

The roll out of MVD will continue as planned for all un affected sectors. From the 1 April 2019 businesses must be able to submit their VAT return data to HMRC through an accepted form of bridging software.

Those specific sectors affected by this delay will effectively have a further 6 months to ensure they can meet this digital submission requirement. (more…)

Tax is given a digital reboot

Posted on: October 9th, 2018 by Leighton Reed No Comments

With as many as one in four businesses having never heard of ‘Making Tax Digital’, Leighton Reed, director at MHA Broomfield Alexander, looks at the government’s imminent digital tax revolution and explains the need-to-know elements. (more…)

IPPR leads call to replace inheritance tax system

Posted on: October 1st, 2018 by Sarah Curzon No Comments

A think tank is calling for inheritance tax to be abolished, as part of a set of proposals for major reform to the UK tax system.

The Institute for Public Policy Research (IPPR) published its 10-part plan for economic reform, which includes replacing the system of inheritance tax with a new ‘lifetime gifts tax’. (more…)

Extracting profits from a business

Posted on: October 1st, 2018 by Leighton Reed No Comments

What are the tax implications?

People run businesses for a variety of reasons from passion to pride, but making a living is high up the list for most people. (more…)

Treasury shelves plan to scrap class 2 NICs

Posted on: October 1st, 2018 by Sarah Curzon No Comments

Chancellor Philip Hammond has opted to scrap the planned abolition of class 2 national insurance contributions (NICs).

The Government was originally due to abolish class 2 NICs for the self-employed from 6 April 2018, but the move was delayed for 12 months in November 2017 and has now been abandoned. (more…)

Apprenticeships fall 31% in the last academic year

Posted on: October 1st, 2018 by Sarah Case No Comments

The number of people starting apprenticeships has dropped by 31% in the last 12 months, the Department for Education has claimed.

In the academic year between August 2017 and May 2018 there were 315,900 apprenticeship starts, compared to 457,200 the same time the year before. (more…)

Chancellor mulls abolishing dividend allowance

Posted on: October 1st, 2018 by Marcus Nallon No Comments

The Treasury is reportedly considering abolishing the dividend allowance in Autumn Budget 2018.

The Daily Telegraph claims Chancellor Philip Hammond has business owners, directors and shareholders in his sights to help fund a Government pledge to increase spending on the NHS. (more…)

Making Tax Digital and Sage Software

Posted on: September 13th, 2018 by Judith Mallen No Comments

Making Tax Digital is HMRC’s move to digitise tax. As from 1 April 2019, businesses with a turnover above £85k will have to submit VAT returns through the HMRC gateway using commercial accounting software. 

If you currently have Sage 50 software you will need to check if your software is MTD Compliant and if the software is not MTD compliant then you will need to upgrade.  (more…)

Blog: Latest Articles

Linda Strange

Deregistering for VAT

Posted in VAT by Linda Strange
Sarah Curzon
Clive Headon
David Holden

Precision Farming

Posted in Agriculture by David Holden

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