P11D deadline approaching
The forms P11D which report details of benefits and some expenses provided to employees and directors for the year ended 5 April 2017, are due for submission to HMRC by 6 July 2017.
Pay Less Tax Newsletter – Spring 2017
Read the latest issue of our Pay Less Tax Newsletter 2016 / 17 Winter Edition
HMRC’s Radical Plans to ‘Make Tax Digital’ (MTD)
‘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.
Construction Industry – CIS Subcontractor verifications
From 6 April 2017, contractors must use an approved method of electronic communication to verify their subcontractors. HMRC will only accept verification via teh free HMRC CIS online service, or commercial CIS software.
Pay Less Tax Newsletter 2016 / 17 Winter Edition
Read the latest issue of our Pay Less Tax Newsletter 2016 / 17 Winter Edition
Apprenticeship Levy
The Apprenticeship Levy is being introduced from 6 April 2017 and will be payable by large employers. The Levy will be 0.5% of the employer’s pay bill but there is an annual allowance of £15,000.The allowance will be given on a pro-rata basis throughout the tax year.
Pay Less Tax – 2016 Autumn Newsletter
In this newsletter, we examine the following changes: The Savings Starting Rate and the Personal Savings Allowance Explained NEW Investors Relief – In the Budget 2016 a new relief was introduced, Investors Relief (IR) to encourage passive investors to invest in trading businesses. Annual Tax on Enveloped Dwellings (ATED) It’s all change for long-term resident…
The ‘Investors Relief’ has been introduced to encourage passive investors to invest in trading businesses
In the Budget 2016 a new relief was introduced, Investors Relief (IR) to encourage passive investors to invest in trading businesses. The investor subscribes for qualifying shares and when these shares are disposed of the gain in value of the shares attracts a preferential 10% rate of Capital Gains Tax (CGT) up to a lifetime limit of £10 million.
HMRC outline Making Tax Digital plans
HMRC have issued a series of consultation documents outlining further plans for the government’s Making Tax Digital (MTD) initiative.
