THE NEW TAX YEAR CHECKLIST

The new tax year is fast approaching again! To ensure your business has a successful 2017, it is imperative that your to-do list is always up to date with all new and relevant obligations that employers face. Read the check list below to ensure your businesses success. • The Apprenticeship Levy Effective from April 2017, … Continued


Do you have to declare property rental income?

You’ve let out a house for years, but your total income has always been less than your tax allowance so you haven’t declared it to HMRC. Will you need to reconsider this in view of the impending major changes to the tax rules for landlords?  Non-declaration. One of our subscribers owns a property jointly with his … Continued


Limited company contractors face tax hike from dividend changes

In yesterday’s budget the Chancellor began his speech with praise for the UK’s self-employed, whom he referred to as “the lifeblood of our economy”. Unfortunately yesterdays announcements failed to reflect that sentiment. The big news for limited company contractors is that the tax-free dividend allowance is set to be cut by more than a half from £5,000 … Continued


New Restriction On Finance Expenses and Rental Losses

The tax relief for loan interest and other financial expenses that relates to to-let residential properties will be restricted from April 6th 2017. As a result of this, your current and future losses from your buy-to-let property will be affected. Here’s how… The New Controversial Rules Since 2015 (when new rules limiting tax relief on … Continued


Blow for Scottish Taxpayers

Budget. In December 2016 the devolved administration at Holyrood announced its Budget. One notable announcement was that the income tax rates (20%/40%/45%) would not be changing for 2017/18. This has, however, been tempered by the further announcement that the Scottish basic rate band will not increase in line with the main UK threshold of £45,000 … Continued





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Taking on the new Tax Year – looking to the future

Accountants and clients alike can share a sigh of relief as we reach the tax year-end, accounts are filed with HMRC, and everyone is ready to take on the new tax year with renewed energy and strength.   As we start the new tax year, it is important that clients reflect and take a fresh … Continued

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