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HMRC and SA302s for Mortgages and Loans

by | Dec 6, 2017 | HMRC

This in by email from HMRC This is a reminder that, on the 5 September, HMRC changed the way we deal with requests for copies of the SA Tax Calculation (sometimes referred to as the SA302). From that date we no longer issue paper copies of the tax calculation if the...

Enveloped dwellings tax rises 3%

by | Dec 6, 2017 | ACCA, property taxation

The annual tax on enveloped dwellings (ATED) for 2018 to 2019 will increase by 3% from 1 April 2018.  The ATED charges for the 2018 to 2019 chargeable period are increased in line with the September 2017 Consumer Prices Index (CPI) rate of inflation, which was 3%. The...

Reprieved class 2 NICs

by | Dec 5, 2017 | ACCA, personal taxatation

Threshold and contributions up before 2019 abolition. It was announced earlier in November that the government has chosen to delay the abolition of class 2 national insurance contributions (NICs) by a year until 6 April 2019. For 2018/19 the small profits threshold...

Budget: VAT roundup

by | Dec 1, 2017 | ACCA, budget, VAT

Changes made (or signalled) to thresholds, EU imports, vouchers and refunds. Two-year threshold freeze  In response to the announcement of a VAT simplification by the Office of Tax Simplifcation (OTS) earlier this month, the chancellor has decided to freeze the VAT...

Group loss relief – all change

by | Nov 28, 2017 | ACCA, business taxation, HMRC

HMRC has announced a consultation on changes to company group relief. The aim of the draft legislation is to simplify the arrangements for claiming and surrendering group relief for carried-forward losses. For some groups this may mean being able to access losses and...

Christmas Shutdown 2017

by | Nov 27, 2017 | administration

Just to let clients know the Whitefield office will be closing for Christmas at midday Friday 22 December 2017, and reopening 9am Tuesday 2 January 2018. During that time, if you need urgent help on something please email, and we will do our best to help. For company...

New consultation on IR35 rules

by | Nov 27, 2017 | ACCA, budget, IR35, PSC

HMRC announces consultation on extending the ‘off payroll working’ rules to the private sector.  The government reformed the off-payroll working rules (known as IR35) for engagements in the public sector in April 2017. The Autumn Budget Report 2017 states that early...

Simplification of tax administration

by | Nov 27, 2017 | ACCA, budget, penalties

Could a points-based system be on the cards? On 1 December 2017 we are expecting the release of HMRC’s consultation findings on late submission and late payment sanctions. The release is expected to include the issue of alignment of penalty interest and late payment...

Budgeting for a Small Business

by | Nov 24, 2017 | business issues

We all have different strengths and weaknesses.   Some small business owners will be financially savvy, others less so. A question that comes up sometimes is budgeting and forecasting, as part of managing your personal finances.  For many its common sense, but for...
Whitefield Tax - Isle of Wight Accountants - IR35 specialists
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