Our Charity of the year – The Spark Arts for Children

Each year at Torr Waterfield we choose a charity, local or national, to represent and raise money for.  This year we have chosen to support The Sparks Arts for Children. The Spark Arts for Children is a busy children's art organisation based in the LCB Depot (Leicester City Council managed workspace for creative industries), in… Continue reading Our Charity of the year – The Spark Arts for Children

Call for review of High Income Child Benefit Charge

The Low Incomes Tax Reform Group (LITRG) is calling on the government to address issues with the High Income Child Benefit Charge (HICBC). The HICBC is designed to claw back child benefit where the claimant or their partner earns in excess of £50,000. According to LITRG some households think making a child benefit claim is… Continue reading Call for review of High Income Child Benefit Charge

Hot Topic: Working off-payroll

Torr Waterfield - Accountants & Business Advisors

From 6 April 2020, a change to the off-payroll (IR35) rules is expected. Draft legislation has already been published and further HMRC guidance is expected.

The new rules will affect you if you work via your own personal service company (PSC), and off-payroll workers should be aware that their clients are likely to investigate the profile of the contractor workforce more closely than before, as part of a review of compliance, strategy and spend. But the changes could be felt more widely: anyone supplying personal services via an ‘intermediary’ could be within scope of the IR35 rules. An intermediary can be an individual, a partnership, an unincorporated association or a company.

Contracts caught by the rules

The change could impact you if you supply personal services to large and medium organisations in the private and voluntary sector. If the client is a ‘small’ business, the rules are unchanged. A ‘small’…

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Free Useful Resources

Access to really useful resources including: calculators, tax rates and allowances, market data, a tax calendar together with access to HMRC and Companies House forms. To get access to these free useful documents use this link https://www.torrwaterfield.co.uk/resources Why not register to receive our Monthly Newswire? Registration will allow you to: receive our monthly email packed… Continue reading Free Useful Resources

Chancellor announces Budget date

Chancellor Sajid Javid has announced that he will deliver the 2020 Budget on Wednesday 11 March 2020. The 2020 Budget will be the first to be delivered after the UK's scheduled departure from the EU on 31 January 2020. It is also Mr Javid's first Budget as Chancellor, following the cancellation of last November's planned… Continue reading Chancellor announces Budget date

Minimum wage rates announced

The Government has announced the largest increase since the National Living Wage was introduced two decades ago. The government has announced a 6.2% increase in the National Living Wage (NLW), which applies to workers aged 25 and over. From 1 April 2020 the NLW will rise from the current rate of £8.21 to £8.72 an… Continue reading Minimum wage rates announced

Self assessment deadline approaching – 31st Jan 2020

Happy New Year ! Get 2020 off to a good start by making sure you submit your Tax Return by 31st January 2020. The deadline for submitting your 2018/19 self assessment return is 31 January 2020. The deadline applies to taxpayers who need to complete a tax return and make direct payments to HMRC in… Continue reading Self assessment deadline approaching – 31st Jan 2020