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Class 2 NI abolition put back 12 months

by | Nov 3, 2017 | business taxation

The self employed pay both Class 2 and Class 4 NI.   Class 2 is a fixed weekly amount – sometimes called a stamp – Class 4 a variable amount related to profit. Its long been intended to abolish Class 2 NI, and the set date was April, 2018.  Yesterday, 2...

Inheritance tax and how to reduce it

by | Nov 3, 2017 | capital taxation

There are a number of steps that need to be understand to ensure that they receive HMRC allowances. Inheritance tax is charged at 40% on the value of the deceased estate which exceeds the threshold, currently £325,000. If the deceased left his/her home to children or...

Claiming Clothes – HMRCs rules

by | Oct 19, 2017 | business taxation, yoga

Theres enough complexity in life, and you’d think that tax could be black and white – what you can claim or what you can’t claim.  Alas that simplicity doesn’t exist;  the area of allowable expenses is one of the key areas of uncertainty and...

HMRC introduces 2 Step Verification

by | Sep 15, 2017 | ACCA, HMRC

Users promised greater security and a safer online experience. From September 2017, HMRC will make it a requirement for all businesses using their online tax accounts to register for 2 Step Verification (2SV) – if not already using it. Users logging into their tax...