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VAT thresholds – and other changes

by | Mar 28, 2017 | ACCA, budget, VAT

Increases could delay VAT registration for 4,000 small business. From 1 April 2017 the VAT registration threshold will increase from £83,000 to £85,000 and the deregistration threshold from £81,000 to £83,000, in line with inflation. Also, the registration and...

Non-dom IHT changes come into force

by | Mar 27, 2017 | ACCA, capital taxation

Changes bring tax treatment into line with UK-domiciled residents. We are on the verge of the implementation of the changes to the non-domicile (‘non-dom’) regime announced in the summer 2015 Budget. Until now, offshore companies, whose shares have been classed as...

Pros and cons for cash basis

by | Mar 22, 2017 | ACCA, business taxation

The arguments for and against cash basis. The cash basis Self-employed individuals or partnerships carrying on a small trading business will be able to choose to be taxed on the cash basis rather then being asked to do accounting adjustments designed for more complex...

Class IV NI rises scrapped

by | Mar 16, 2017 | budget, business taxation

Yesterday it was announced by the Prime Minister the Class 4 NI increases for Self Employed (sole traders and partners, not company directors) announced in last weeks budget are not going ahead. They were originally proposed at 1% from April 18 and 1% from April 19....
Whitefield Tax - Isle of Wight Accountants - IR35 specialists
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