The Apprenticeship Levy

The Apprenticeship Levy is charged on employers’ “paybills” at a rate of 0.5%. The levy is payable through Pay as You Earn (PAYE) and is payable alongside income tax and National Insurance. To keep the process as simple as possible “paybill” will be based on total employee earnings subject to Class 1 secondary NICs. Each… Continue reading The Apprenticeship Levy

Important changes to HMRC payment methods.

Important changes to HMRC payment methods: HMRC are making the following changes to the way you pay tax.  Paying at the Post Office HMRC are withdrawing this service from 15 December 2017.  Paying by Personal Credit Card HMRC will no longer accept payments of tax by personal credit card from 13 January 2018. Please note… Continue reading Important changes to HMRC payment methods.

Autumn Budget 2017

Yesterday saw a budget that focused, as expected, on housing and a stormy economic forecast. Our full summary is available on our website, but the key tax developments are summarised below. Personal Tax Rates and Allowances The personal allowance is currently £11,500 and will increase to £11,850 in April 2018. The higher rate threshold similarly… Continue reading Autumn Budget 2017

HMRC’s Worldwide Disclosure Facility (WDF)

This is a facility that the Inland Revenue introduced in 2016 which allows the voluntary disclosure of any UK tax liabilities that relate to offshore income or assets, which have not previously been disclosed to the UK tax authorities, to be declared. This includes: Income arising from a source outside the UK Assets situated or… Continue reading HMRC’s Worldwide Disclosure Facility (WDF)

Inheritance Tax

Inheritance Tax For most people, Inheritance Tax is a tax they only encounter when dealing with the estate of someone who has passed away. There’s normally no Inheritance Tax to pay if either: The value of your estate is below the £325,000 threshold You leave everything to your spouse or civil partner, a charity or a… Continue reading Inheritance Tax

Have you become a landlord?

You can become a landlord for many different reasons; you might not even think of yourself as one. This could be because you’ve: inherited a property rented out a flat to cover your mortgage payments moved in with someone and need to rent out your house. If you follow this link it takes to… Continue reading Have you become a landlord?

Hot Topic Making Tax Digital for Business

The government have issued information on how Making Tax Digital for Business (MTDfB) is expected to work for VAT once the rules are introduced in April 2019. Under the proposed rules, which have been issued subject to consultation, VAT registered businesses with turnover over the VAT registration threshold will be required to submit their VAT… Continue reading Hot Topic Making Tax Digital for Business

Have you got a moment?

  Have you got a moment? Do you dread hearing that in your office or, in fact, anywhere? It invariably means that your plans have just been scuppered and that you will know have to spend a chunk of time looking at something completely different. Exactly how long is a moment? I guess I’ve always thought… Continue reading Have you got a moment?