Major changes to Flat Rate (FRS) VAT

As announced by the Chancellor in his Autumn statement, there are set to be major changes to the way Flat Rate VAT is to be operated, with effect from 1 April 2017. Small businesses using FRS VAT who routinely purchase goods or materials in the course of business will...

Money purchase annual allowance

This Content Was Last Updated on February 9, 2017 by Jessica Garbett   Consultation open on proposal to set allowance at £4,000. Reducing the money purchase annual allowance: consultation has been issued and is open for comment until 15 February 2017. It proposes to...

Rental expenses

This Content Was Last Updated on February 9, 2017 by Jessica Garbett   Guidance on revenue and capital expenditure on rental income. Generally, when calculating the rental business profits, expenses will be treated as revenue expenditure provided they are incurred...
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