Scottish Budget For 2018/19

Scottish Budget Flag

Derek Mackay delivered his Scottish Budget speech which sets out the Scottish Government spending and taxation plans which will take effect from 6 April 2018. The Scottish Government has limited powers however has taken steps to amend income tax rates and adjust Land and Buildings Transaction Tax for first time buyers. Scottish Income Tax 2018/19 … Read moreScottish Budget For 2018/19

Autumn Budget 2017

Autum Budget 2017

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.

Read moreAutumn Budget 2017

Top Tips for maximising your CIS tax refund

Construction

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.

Read moreTop Tips for maximising your CIS tax refund

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 … Read moreVAT Flat Rate Scheme changes from 1 April 2017

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