Budget 2018
November 2018
The Chancellor Philip Hammond presented his second Autumn Budget on Monday 29 October 2018. In his speech he stated that 'austerity is coming to an end - but discipline will…
Personal tax changes - allowance and basic rate band increases
November 2018
At the Budget, the Chancellor announced that increases to the personal allowance and basic rate band for 2019/20. The personal allowance is currently £11,850. The personal allowance for 2019/20 will…
Capital allowances changes
November 2018
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…
Entrepreneurs' Relief changes
November 2018
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…
Making Tax Digital for VAT
November 2018
HMRC has opened the Making Tax Digital for VAT (MTDfV) public pilot. However certain VAT-registered businesses (around 3.5% according to HMRC) with more complex requirements will be deferred from being…
New guidance for employers
November 2018
HMRC has issued the October 2018 Employer Bulletin which contains a number of articles relevant to employers on payroll related issues. The articles cover a number of areas including: clarification…
HMRC countdown: file your tax return
November 2018
With less than 100 days until the self assessment tax return deadline of 31 January 2019, HMRC is urging taxpayers to complete their tax returns early, in order to avoid…
Further contingency planning guidance on a 'No deal Brexit'
November 2018
HMRC has issued a Partnership Pack to help businesses carry out contingency planning and to help their customers, members and clients to: think about how they will need to adapt…
Autumn Budget 2018
October 2018
The Chancellor Philip Hammond presented his second Autumn Budget on Monday 29 October 2018. In his speech he stated that 'austerity is coming to an end - but discipline will…
UK Budget date announced
October 2018
The Chancellor of the Exchequer, Philip Hammond, has announced that the Budget will take place on Monday 29 October. Breaking with the tradition of a Wednesday in November, perhaps in…
Self-employed Class 2 National Insurance will not be scrapped
October 2018
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…
'No deal' Brexit guidance and small business survey
October 2018
Following the issue of some 'no deal' Brexit technical notices, in August, the government has issued further notices with the aim of helping both businesses and individuals to prepare in…
Deadline for 'paper' self assessment tax returns
October 2018
For those individuals who have previously submitted 'paper' self assessment tax returns the deadline for the 2017/18 return is 31 October 2018. Returns submitted after that date must be submitted…
Deliberate tax defaulters
October 2018
HMRC has published an updated list of deliberate tax defaulters. The list includes details of taxpayers who have incurred a penalty because they have either: deliberately provided one or more…
Genuine HMRC contact and recognising phishing emails and texts
October 2018
HMRC has updated their guidance on how to recognise when contact from HMRC is genuine and how to recognise phishing or bogus emails and text messages. Internet link: GOV.UK recognising…
HMRC identify record £15.6 million minimum wage underpayments
October 2018
HMRC has announced that they achieved record enforcement results this year, identifying £15.6million of minimum wage underpayments. The number of workers identified as underpaid was double that in 2016/17 and…