My Latest Blogs
4th January 2018
Directors’ responsibilities
Limited company directors and secretaries are collectively referred to as ‘officers’. Directors are appointed by members (shareholders and guarantors) to run and manage the day-to-day operations of the business. Secretaries are optional for private companies, but not public companies. They are usually appointed to assist directors with important administrative tasks. An Overview Company directors…
10th November 2017
Reminder for all companies ahead of MTD
The MTD machine is moving along and the starting date of April 2019 draws ever closer and closer. We have been working with our clients to ensure that those VAT registered (in particular) with a turnover over the VAT threshold are implementing any changes required sooner rather than later so that any teething problems can…
1st November 2017
HMRC no longer accepting credit card payments – January 2018
HMRC have advised that from 13 January 2018, they will no longer be accepting payments from personal credit cards. HMRC have accepted credit card payments from individuals, but from 13 January 2018, this method of payment will no longer be available. A change in EU law, prohibits merchants (including HMRC) from recharging credit card…
5th October 2017
Simple Assessment
HMRC have now implemented their ‘Simple Assessment’ project, where they use the information already available to them from employers, pension providers, the DWP and banks to calculate the tax for those with straightforward or ’Simple’ tax affairs, without the need for a tax return to be completed. In theory this sounds like an…
26th September 2017
Nearly half of eligible couples not claiming marriage tax allowance
Following last year’s report from HMRC showing that only a quarter of couples eligible for marriage tax allowance were actually claiming, figures have reduced but still stand at just over a half of couples missing out on the £230 a year they are entitled to. Although the government have tried to simplify the application…
12th September 2017
Childcare Services compensation
The government are offering compensation to those who have been affected by problems with the implementation of Tax-Free Childcare. Individuals who have been affected may be able to get a government top-up as a one-off payment for Tax-Free Childcare. The government will also consider refunding any reasonable costs directly caused by the service not…
7th September 2017
Further move towards dealing with HMRC electronically
HMRC have for some time been keen for taxpayers to make their tax payments electronically. They have recently updated their guidance to show that from 15 December 2017 it will no longer be possible for taxpayers to pay self-assessment tax, or in fact any other type of tax, directly at the Post Office. This…
9th August 2017
New timetable for Making Tax Digital
The government has announced a revised timetable for the introduction of Making Tax Digital for Business (MTDfB). MTDfB introduces extensive changes to how taxpayers record and report income to HMRC. Unincorporated businesses, including landlords, were expected to be the first to see significant changes in the recording and submission of business transactions but the…
20th July 2017
Are you VAT registered? – latest MTD announcement
The recent announcement that HMRC have delayed the implementation of Making Tax Digital (MTD) for income tax until at least April 2020 has been met with relief by many taxpayers and accountants. It has however drawn attention to the fact that one particular group’s MTD journey has remained firmly fixed at April 2019. Those…
10th July 2017
Pros and cons of using limited companies for buy to let properties
Following the announcement to cut tax relief for landlords from April 2017, setting up a limited company to purchase investment properties has been suggested as one way to ease the burden of tax. Whilst the legal transaction is essentially the same whether an individual or a company is purchasing the buy- to- let properties, there…