Instant pension duties for start-up businesses

If you’re working your way towards setting up your own business and you’re established as a start-up from October this year you will have instant pension duties. This warning comes as the current schedule for employers to meet their automatic enrolment obligations comes to an end; all businesses who existed … Continue reading

Posted in Business, Business Support, Economic / Business News, Elaine Shaw, Employees, Employers, HMRC, Payroll, Small businesses | Tagged , , , , , , , , , | Leave a comment

Combatting tax evasion: Charities must report under CRS by 31st May

You may recall an earlier blog, posted in October last year, which addressed the new requirements for charities under the Common Reporting Standard (CRS). To recap, the CRS requires those charities classified as ‘financial institutions’* to report to HMRC on the following: • Any funds constituting maintained ‘financial accounts’ • Relevant payments … Continue reading

Posted in Accounting, Business, Business Support, Charities, Deadlines, HMRC, Toni Hunter | Tagged , , , , , , , , , , , , , | Leave a comment

Company ownership and control: Changes to legislation

Businesses should be aware that new and important measures, to aid the prevention of money laundering and terrorist financing, are arriving soon. On 26th June 2017, significant changes will be made to current UK anti-money laundering measures, intended to improve transparency in respect of who owns and controls companies in … Continue reading

Posted in Accounting, Business, Business Support, Economic / Business News, Legislation, Martin Williams, Small businesses | Tagged , , , , , , , , , , , , | Leave a comment

MTD plans cast aside prior to snap election

Following news of a snap General Election, we now see the largest Finance Bill in history shrink significantly during the ‘wash-up’ before parliament is dissolved in time for the election on the 8th June. The ‘wash-up’ refers to the final few days of Parliament prior to its dissolution ahead of … Continue reading

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Probate fee hike put on hold

Today, the Government have confirmed that the planned changes to probate fees, expected to be introduced in May, have been placed on hold, at least until after the general election and the next Government. The Ministry of Justice have said that there is not sufficient time for the legislation to … Continue reading

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Top Tips for the end of the tax year

Are you making the most of the allowances and tax advantages available to you? Are you aware of how certain changes to the tax system may impact you and your business? Have you planned and prepared for the new tax year? Here’s some top tips that just might help…

Posted in Business Support, Business Taxation, Deadlines, Economic / Business News, Employees, Employers, Infographics, Inheritance Tax, Legislation, Personal Taxation, Property, Property Taxation, Small businesses, Taxation | Tagged , , , , , , , , , , , | Leave a comment

Coming soon: Changes to IR35 rules confirmed

The Government has confirmed that, from 6th April 2017, changes to IR35 rules will apply for those contracting in the public sector, another step towards them tackling perceived tax avoidance through the use of limited companies to disguise employment status. The new rules move the responsibility for determining whether a … Continue reading

Posted in Business Support, Employees, Employers, HMRC, Legislation, Martin Williams, Taxation | Tagged , , , , , , , , , , , , , , | Leave a comment

Hammond makes U-turn on Class 4 NIC proposals

It was only a week ago that Philip Hammond stood up in front of parliament to deliver his first and last Spring Budget, but already so much has changed. Of all his announcements, the one that caused the most furore was the proposal to increase Class 4 NIC’s for the … Continue reading

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A summary of Philip Hammond’s Spring Budget speech

Yesterday afternoon The Chancellor, Philip Hammond, delivered his first and last Spring Budget, giving a promising speech in which he altered very little within the tax system promoting a level of stability that we, as accountants, can only approve of. Addressing Parliament for just 56 minutes he reaffirmed his intention … Continue reading

Posted in Barry Jefferd, Business Support, Business Taxation, Economic / Business News, Employers, HMRC, Legislation, Payroll, Personal Taxation, Phil Blackburn, Small businesses, Taxation | Tagged , , , , , , , , , , , , , | Leave a comment

Bereaved families will see sharp rise in Probate fees

When a person dies, their assets are frozen and it is the responsibility of the executor/s named in the Will, or administrators if a Will does not exist, to apply for a grant of representation, otherwise referred to as Probate. This is an authority from the Court that permits the … Continue reading

Posted in Barry Jefferd, Inheritance Tax, Personal Taxation, Probate, Taxation | Tagged , , , , , , , , , , , | Leave a comment