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Spring Budget 2017 – First Impressions

by Jessica Garbett | Mar 8, 2017 | budget, business issues, business taxation, IR35, personal taxatation, VAT

Making Tax Digital – no move on the £10,000 threshold – if you earn over that you will have to start filing quarterly accounts on line – but there is a deferment of one year for non VAT registered sole traders. Implementation dates are now: –...

Small income annual allowances

by Jessica Garbett | Mar 6, 2017 | ACCA, business taxation, HMRC

2017 sees the introduction of two new tax allowances that have so far gone ‘under the radar’. From April 2017 the government is introducing two new annual tax allowances for individuals of £1,000 each, one for trading and one for property income. These were announced...

Making tax digital – distilled

by Jessica Garbett | Mar 3, 2017 | ACCA, business issues, business taxation, HMRC, personal taxatation

Read our digest of the key points of HMRC’s consultation responses – and then let us know what you think. On 31 January, as practitioners were finalising tax returns to meet the self assessment deadline, HMRC published consultation responses indicating the...

When is a car not a car?

by Jessica Garbett | Feb 22, 2017 | ACCA, business taxation

People often ask what is/is not a car for capital allowances and other purposes. Here’s a timely recap on the rules and how they are applied. Basics A business can claim capital allowances on cars bought and used in the business. However, the first issue is – what is...

£1,500 Tax Free Pension Drawdown for Advice

by Jessica Garbett | Feb 17, 2017 | business issues, business taxation, pension reform, pensions, personal finance, personal taxatation

From April 2017 individuals will be allowed to withdraw £500 tax free from their pensions on up to three occasions, once in each tax year, for Pensions and Financial advice. This allowance is available at any age, but clearly it comes from your pension savings –...

£500 Employer Funded Pensions Advice Exemption

by Jessica Garbett | Feb 17, 2017 | business issues, business taxation, pension reform, pensions, personal taxatation

From April 2017 an employer can pay for £500 worth of pensions advice for an Employee, and there will be no benefit in kind on the employee. The precise details are: Exemption on the first £500 of Employer arranged or financed pension advice each tax year Advice must...

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Spring Budget 2017 – First Impressions

Small income annual allowances

Making tax digital – distilled

When is a car not a car?

£1,500 Tax Free Pension Drawdown for Advice

£500 Employer Funded Pensions Advice Exemption

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