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
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
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
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
So, we already knew about some of the announcements before the chancellor, the Rt. Hon. Philip Hammond MP, spoke yesterday, so much so he even made a joke about toilets and leaks. As ever there was good news and bad news for taxpayers, a full summary is on our website but here are some good… Continue reading Autumn Budget – 29 October 2018
A married couple or civil partnership can apply to transfer 10% of the income tax personal allowance from one to the other. Although called the marriage ‘allowance’, it is a transfer rather than an additional allowance. To qualify for the allowance, neither of the partners can be higher rate taxpayers and cannot be claiming the… Continue reading Have you taken advantage of the Marriage Allowance?
If you’re building a new home, you may be able to reclaim the VAT back on the materials used, potentially making a lot of difference to the final costs. You can apply for a VAT refund on building materials and services if you’re: building a new home converting a property into a home building a non-profit communal… Continue reading VAT on building a new home
Health and Safety is mandatory for just about every business, and it doesn’t have to be time consuming or complicated to manage. If you are an employer running a low risk business the management of health and safety can be delegated to a competent person to help you with it. The HSE defines a competent… Continue reading Are you up to date with Health and Safety?
We have known for some time that Landlords have been hit hard by recent tax changes: Clause 24 restricting relief for interest; 8% extra capital gains tax; 3% extra stamp duty. Clause 24 of the Finance Act set out restrictions for individuals on claiming loan interest as a cost against property investment income, for individuals… Continue reading Clause 24 in the Finance Act – Is it affecting you?
The following Tax Events are due on 19th April 2018: Business Tax Events PAYE quarterly payments are due for small employers for the pay periods 6th January 2018 to 5th April 2018. This deadline is relevant to small employers and contractors only. As a small employer with income tax, national insurance and student loan deductions… Continue reading The following Tax Events are due on 19th April 2018.