In this winter edition of the PayLessTax newsletter, we cover a number of topics including the importance of fully understanding the incorporation process pre going ahead and the tax implications of leaving the matrimonial home following a marital split.Details
The 2017 Autumn Budget announced the delayed abolition of Class 2 NICs until April 2019.Details
It will be possible from 29th November 2017 for a claim for the Marriage Allowance to be made in respect of a deceased spouse or civil partner and for that claim to be backdated for up to four years.Details
The Chancellor Philip Hammond presented his first Autumn Budget on Wednesday 22 November 2017.
His report set out a number of actions the government will take including support for more housebuilding. His view is that the economy continues to grow and continues to create more jobs.The major attention-grabber was aimed at first time buyers who will not have to pay Stamp Duty Land Tax on homes costing up to £300,000.Details
‘Making Tax Digital’ (MTD) is a government initiative that sets out a vision for ‘a transformed tax system and the end of the tax return’ by 2020. Under the MTD scheme, HMRC is aiming to create a single ‘digital account’ for each taxpayer in order to unify their different taxes and make it easier for them to manage their tax affairs. Taxpayers will be able to log into their digital account in order to view all payments made and offset overpayments from one tax against underpayments in others.Details
Parents with children in childcare have an important decision to make in the early part of 2017. The government will launch the new Tax Free Childcare Account (Childcare Account) and for selfemployed parents this will mean that they have access to tax incentivised childcare for the first time.Details