Chancellor Philip Hammond delivered his Budget speech and amongst disagreeing with Jeremy Clarkson that electric cars and then driverless cars are the future (so Jeremy being snubbed by May and Hammond) the Chancellor aimed to deliver his vision of a prosperous, modern outlooking Britain.
HM Revenue & Customs
Top Tips for maximising your CIS tax refund
If you are self-employed or a contractor working in the construction industry it is very likely you are well aware of the Construction Industry Scheme or CIS.
Under this scheme contractors deduct CIS from subcontractors and pay it to HM Revenue & Customs (HMRC) on the subcontractor’s behalf. This tax is paid in advance towards the subcontractor’s income tax and national insurance.
VAT Flat Rate Scheme changes from 1 April 2017
Many small businesses choose to use the VAT Flat Rate scheme to keep things simple. Rather than adding up the VAT you pay on all your purchases and deducting it from the VAT you collect on sales to work out how much you owe, you simply take a flat percentage of your VAT inclusive turnover …
Spring Newsletter 2017 including a summary of the Spring Budget announcements
Following the chancellor’s Spring Budget announcements yesterday we have included a summary of the key changes which may affect you on pages 3-4 of our Spring Newsletter. You can download a digital copy of the Spring Newsletter here. The newsletter also includes articles on topical tax changes including: Making Tax Digital National Minimum wage increases …
National Minimum Wage Increase October 2016
The National Minimum Wage will increase from 1 October 2016. The increase is following the Government’s decision to accept recommendations from the Low Pay Commission (LPC) earlier in the year.
P11Ds for 2014/15. Is your business ready?
Form P11Ds for 2014/15 should be submitted to HM Revenue & Customs (HMRC) on or before 6 July and any liability to class 1A National Insurance should be paid by 19 July, or 22 July if payment is made electronically.
Late Tax Return Reasonable excuse
Do you have a late Tax Return? Have you been issued with a late filing penalty? With a ‘reasonable excuse’, HM Revenue & Customs (HMRC) will waive your penalty.
A Budget 2015 Summary for Business
The business community will welcome today’s Budget announcements with the continuing theme of growth, consistency and stability.
Here’s our Budget 2015 summary for business outlining the key announcements:
Corporation Tax
- for small businesses, the rate of Corporation Tax remains at 20%.
- the main rate will be cut to 20% from April 2015. The rules will be amended to prevent contrived loss arrangements.
Autumn Statement
The date has been set for the Chancellor of the Exchequer’s Autumn Statement. The Chancellor; George Osborne will deliver his Autumn Statement on Wednesday 3 December 2014.
Advisory Fuel Rates from 1 September 2014
HM Revenue & Customs have revised the Advisory Fuel Rates which should be used from 1 September 2014.
