These changes include the largest increases in a decade for the rates, that apply to 18-20 and 21-24 year olds. More employers than ever will be directly affected by these increases, including those who currently pay above the minimum. Get prepared, see the new rates below and ensure you pay all your workers correctly. These … Continue reading National Minimum and National Living Wage rates on 1 April 2018
HMRC have made changes in the way that you pay your taxes. As from 15/12/17 you can now no longer pay at the Post Office and as from 13/1/18 you can now no longer pay by personal credit card. So how do we pay our taxes? HMRC are encouraging all customers to pay using the … Continue reading Changes in the ways of paying your tax
The Capital Gains Tax (Annual Exempt Amount) Order 2018 sets the annual exempt amount for individuals in 2018/19. What does it mean? When is CGT charged? CGT is charged on any chargeable gains made during the year that are in excess of the annual exempt amount, after losses and reliefs have been applied. However, non-UK … Continue reading 2018/19 capital gains tax annual exemption set at £11,700
All existing trusts that incurred a tax liability during 2016/17 are required to register using the Trust Registration Service (TRS) even if a 41G form has been submitted. What's involved? What counts as a tax liability? A liability to income tax, capital gains tax, inheritance tax, stamp duty land tax, stamp duty reserve tax or … Continue reading Trustees must register their trust with HMRC by 5 March 2018
The average UK small business spends £5,000 and three working weeks every year on tax compliance, according to the latest report from the Federation of Small Businesses (FSB). Taxing Times highlights the many hurdles small businesses face when trying to pay taxes. Almost half (46%) say determining the tax rates at which they’re required to … Continue reading Small firms urge tax reform as they lose £5,000 and 15 working days a year to compliance
Two of our biggest fears are – failure and criticism, and they never completely go away. You can overcome them, but they’ll show up when you face your next challenge. It’s in accepting fear as part of life’s journey instead of running from it, that you learn to conquer it. Indeed as you look back … Continue reading Take the leap and get out of that comfort zone.
As a property investor or small business, the main changes outlined in the November 2017 are. Prior to the new budget, stamp duty had to be paid on all properties used for residential purposes that cost more than £125,000. The rate started at 2% of the price of the property, but gradually rose along with … Continue reading What the November 2017 Budget means to you.
Vacant Building Credits (VBC) apply to all buildings that have not been abandoned, and that you have not made vacant, that is:- 1. Brought back into use or 2. Demolished to be replaced by a new building. 3. That are commercial to residential conversions The developer receives a credit equivalent to the existing gross floor space … Continue reading What are Vacant Building Credits and how do they benefit you.
HMRC has today announced significant changes to the roll-out of its Making Tax Digital (MTD) scheme, which was due to go live from April 2018. MTD is the biggest change to the tax environment that we have ever seen and is by far one of the greatest challenges facing businesses in the near future. Much to … Continue reading Making Tax Digital and how it affects you.
Are you in the fortunate position of having cash sitting in the bank, but unhappy because it is earning very little? If this is you then please read on. Our associated companies invest in the property market place, in both Derby and Nottingham, we are looking for seed capital to get projects off the ground, once projects … Continue reading Is your bank account working for you?