Latest news releases and FAQs

News and useful information on tax and business issues.

Payroll Changes 2016

2016 is the year where the government has finally seen sense and changed the expenses dispensation regime. Previously if an employee had been reimbursed for a business expense such as a train ticket this should have been reported on a P11d even if there was no tax implication. To avoid this a dispensation could have

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Landlord Interest Changes

In the Summer Budget in July 2015 the government dropped a bombshell on Landlords. Starting in April 2017 the tax relief on interest and other finance costs on the rental of residential will be reduced dramatically. Along with the increase of 3% on Land and Buildings Transaction Tax this is going to fundamentally change the

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Autoenrolment – 2016 Is The Year!!

Autoenrolment, the word that strikes fear into small business owners across the land. And 2016 is the year that it is going to happen for a huge amount of small businesses in the UK. According to this document from a base level of a few thousand businesses staging a quarter last year there are

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Self Assessment Penalties

With the deadline for submitting 2014/15 self assessment returns looming this Friday it seems topical to review the penalties around self assessment. There are penalties for: Not informing HMRC that a self assessment return is necessary (failure to notify) Late submission of a return Late payment of tax The penalties for failure to notify depend

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2016 Tax Changes

It’s a new year and we are looking past the end of the Tax Return season to help our clients with numerous upcoming tax changes starting after April 6th. Its going to be a busy year as a lot of our clients are due to start autoenrollment pensions as well.: New Dividend Tax Enhanced Employment

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New Dividend Tax

The new dividend tax was announced out of the blue in the budget. The key facts of the proposed changes are as follows:          From April 2016, the notional 10% tax credit on dividends will be abolished.          A £5,000 tax free dividend allowance will be introduced.          Dividends above this level will be taxed

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