Lower heating bills for renters – Landlords do you need to make changes?

From 1 April 2018 all privately rented properties must have a minimum energy performance rating of “E”. This means landlords must make improvements to homes, upgrading insulation or heating systems for example, which should make them cheaper to heat. The regulations will come into force for new lets and renewals of tenancies with effect from… Continue reading Lower heating bills for renters – Landlords do you need to make changes?

Employer Update March 2018

National Living/Minimum Wage Changes from 1 April 2018 From 1 April 2018 the National Living/Minimum Wage rates will increase as follows: £7.83 an hour for workers aged 25 and over - previously £7.50 £7.38 an hour for workers aged 21 to 24 – previously £7.05 £5.90 an hour for workers aged 18 to 20 –… Continue reading Employer Update March 2018

Tax Free Allowances – Are you making the most of them?

With the self-assessment tax return deadline now well passed, we can start to look forward to 2017-18’s income and consider whether you are fully utilising your tax free allowances. Using the following to their full potential can often be the most tax efficient way of accessing the income in your company or savings. Personal Allowance… Continue reading Tax Free Allowances – Are you making the most of them?

Spring Statement 2018

The Chancellor Philip Hammond presented his Spring Statement on Tuesday 13 March 2018. In his speech he provided an update on the economy and responded to the Office for Budget Responsibility forecasts. In addition he launched consultations on various aspects of the tax system. Changes to the timing of tax legislation Chancellor Philip Hammond has… Continue reading Spring Statement 2018

Dormant companies – obligations

What is a dormant company? A company or association may be ‘dormant’ if it is not trading and doesn’t have any other income - for example from investments. A dormant company has different obligations for corporation tax, annual accounts and returns for Companies House in comparison to a trading company. Dormant companies and corporation tax… Continue reading Dormant companies – obligations

Deadline: March 3rd 5% late payment penalty on any 2016/17 outstanding tax

5% late payment penalty on any 2016/17 outstanding tax which was due on 31st January 2018 and still remains unpaid. This deadline is relevant to individuals who need to complete a self assessment tax return and make direct payments to HMRC in respect of their income tax, Classes 2 and 4 NI, capital gains tax… Continue reading Deadline: March 3rd 5% late payment penalty on any 2016/17 outstanding tax