by Tanya Suleman | Nov 13, 2018 | Blog, Business Advice, General, Latest News, Tax
To learn more about the Making Tax Digital (MTD) initiative and who must comply – click here. What impact will MTD have on a small business that is not VAT registered? If you are not VAT registered and do not expect your profits to meet or exceed the VAT...
by GJBurton | Nov 6, 2018 | Blog, Business Advice, General, Latest News, Tax
What is Making Tax Digital (MTD)? Making tax digital is a government initiative to digitalise financial record keeping. Depending on the size of your business you will need to comply with the initiative on 1 April 2019 or 2020. The deadline is fast approaching yet...
by GJBurton | Oct 31, 2018 | Blog, General, Latest News, Tax
In the last budget before Brexit the chancellor Philip Hammond scales to pave the way for a brighter future, whilst delivering tax rates for 2019/20. Hammond like the rest of the UK is waiting to see what will happen as a result of Brexit, he has previously stated...
by GJBurton | Oct 23, 2018 | Blog, Business Advice, General, Latest News, Tax
Earlier in the year, HMRC announced that no new childcare voucher scheme could be set up after the 5 October 2018. Octobers deadline a six month extension from the original deadline of 5 April 2018. Employers can continue administrating childcare voucher schemes they...
by GJBurton | Oct 16, 2018 | Blog, General, Growth, Latest News, Tax
In 2016 the government consulted on a proposed abolition of Class 2 National Insurance contributions (NICs) for the self-employed. This flat rate contribution, currently £2.95 a week is payable by the self-employed in addition to Class 4 contributions based on the...
by GJBurton | Oct 2, 2018 | Blog, General, Latest News, Tax
Who needs to complete the self-assessment? You will need to complete self-assessment if: Your self-employment income is more than £1,000 You’ve received more than £2,500 from untaxed income such as commission or tips Yours (or your partners) income was over...
