Stamp Duty Land Tax

If you are thinking of buying a house, Stamp Duty Land Tax (SDLT) could be one of the major costs that you need to consider. However it is not always payable on all properties or for all buyers.  For example, did you know that there are different rules if you are buying your first home… Continue reading Stamp Duty Land Tax

UK-EU border changes and how this may affect the importing of goods

The countdown continues! As things stand, the UK will no longer be a member of the EU at some point in the near future.  This means that UK businesses that have only traded inside the EU may need to follow the same procedures used for trading outside the EU. In order to keep imports up… Continue reading UK-EU border changes and how this may affect the importing of goods

MTD for VAT – Are you ready?

From April 2019 VAT registered businesses and organisations with taxable turnover above the VAT threshold of £85,000 are required to maintain their accounting records digitally in a software product or spreadsheet and also submit their VAT returns to HMRC using compatible software. Here are a few programmes that are compatible with MTD for VAT: XeroSage… Continue reading MTD for VAT – Are you ready?

Tax Refund Scams – What to look out for

Now that the Tax Return season has ended you may receive an email claiming you are due a tax refund. Be aware that it’s a scam to steal your personal details. Criminals are targeting the millions of people who file Self-Assessment Tax Returns online. The fraudsters are sending fake emails purporting to be from HMRC… Continue reading Tax Refund Scams – What to look out for

Employer Update March 2019

National Living/Minimum Wage Changes from 1 April 2019 From 1 April 2019 the National Living/Minimum Wage rates will increase as follows: • £8.21 an hour for workers aged 25 and over - previously £7.83 • £7.70 an hour for workers aged 21 to 24 – previously £7.38 • £6.15 an hour for workers aged 18… Continue reading Employer Update March 2019

Law changes on tips for waiters

Restaurant owners are now banned from deducting money from tips earned by waiters and other staff. Tips can be paid to employees using the following methods: Cash received direct from a customer This is an allowable method of receiving tips, however the person receiving the tip is responsible for declaring and paying tax on the… Continue reading Law changes on tips for waiters

Spring Statement 2019: What you need to know

The Chancellor has presented his Spring Statement to Parliament – here's our summary of what he said. The UK economy continues to grow, with wages increasing and unemployment at historic lows, providing a solid foundation on which to build Britain’s economic future. Borrowing and debt are both forecast to be lower in every year than… Continue reading Spring Statement 2019: What you need to know