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
Businesses in the United Kingdom (UK) that store any goods imported from outside the European Union (EU) that are owned by, or on behalf of, someone established outside the EU, will need to apply for approval by HMRC if those goods are offered for sale in the UK. The deadline for applications from existing fulfilment… Continue reading From 1 April 2018, the Fulfilment House Due Diligence Scheme is open for online applications.
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
The implementation of Tax-Free Childcare, the new government scheme to help working parents with the cost of childcare, is being rolled out to eligible parents in stages. The scheme first made its debut in April 2017 and although there have been initial systems problems, HMRC's aim is to have the scheme open to all eligible… Continue reading Tax-free childcare roll out
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
I am sure that you have seen the headlines in the papers this morning about the Budget and for a detailed analysis please see the report on our website: http://www.torrwaterfield.co.uk/news/budget-report. The items that have caught my attention and I think are relevant to most people are as follows: National Insurance for the self-employed At present,… Continue reading Spring Budget 2017
On Wednesday 23 November 2016 our new Chancellor of the Exchequer, Philip Hammond, delivered his first (and last) Autumn Statement. “No other major economy makes hundreds of tax changes twice a year, and neither should we” – this is perhaps the most welcome measure announced in the Autumn Statement. In recent years the Autumn Statement… Continue reading Autumn Statement 2016