Spring Newsletter 2017 including a summary of the Spring Budget announcements

Spring Newsletter 2017

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 …

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A Budget 2015 Summary for Business

UK 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.

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VAT on discounts

The rules regarding VAT on discounts (Early Settlement Discount) is changing from 1 April 2015.

HM Revenue & Customs (HMRC) have estimated this could affect up to 250,000 businesses that currently offer early settlement discounts to their customers. These businesses will need to review their systems and look to revise their paperwork accordingly.

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Categories VAT

The Chartered Institute of Taxation

The Association of Taxation Technicians

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