Our December Newsletter includes information about the upcoming temporary rise in Annual Investment Allowance, a reduction in Business Rates for small retail businesses, the IR35 reforms set to cost contractors more in tax and the national insurance rise for higher rate earners.
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?
But it can make sense if you are seeking to make a sustainable living rather than get rich, perhaps by trading on online auction sites, or running a café with limited opening hours.
If your business’s turnover is predicted to fall below £83,000 over the next year, it can voluntarily deregister for VAT.
Our November newsletter brings information on the success of small businesses looking for finance, the lack of preparedness by SME’s for a no -deal Brexit, the apprenticeship levy reforms and a roundup from the Budget.
How has devolution affected what property tax you pay?
First-time buyers in England, Northern Ireland – and for a short time in Wales – were the biggest winners in the most recent shake-up in Autumn Budget 2017.
Philip Hammond’s headline measure was to abolish stamp duty for first-time buyers on homes worth up to £300,000, and the chancellor didn’t stop there.
Our September newsletter brings information on HMRC confirming MTD will be relaxed during the first year for VAT-registered businesses, stamp duty tax breaks saving first-time buyers £284m, inheritance tax receipts reaching a record high of £5.2bn and SMEs citing VAT as their ‘biggest administrative headache’