Hope you had a great summer.  Back to shorter days and darker nights.  But some good news in this darker season, HMRC has done an about turn with regard to the use of spreadsheets to work out your VAT return data from 1 April 2019, when the new requirement to file VAT returns using Making Tax…

Just a reminder to all of you who have to pay tax both in January and July – your second payment on account is due to be paid by 31st July 2018 which is this coming Tuesday. You should have received a statement from HMRC confirming the amount due but if you are not sure…

Fancy some nice reading during these long hot summer days …….! HMRC has issued the MTD for VAT notice alongside a communications plan for advisers to use to educate their clients about MTD. There are also now 18 approved MTD for VAT software providers. VAT notice This VAT notice 700/22: Making Tax Digital for VAT, expresses…

Making Tax Digital is coming into force from April 2019 for those businesses above the VAT threshold and VAT registered.  There is a lot of work being done by all the software houses to ensure that their software will be compatible with MTD requirements. One of the software companies, Quickbooks, have recently advised that Lloyds business…

30 September 2018  is a really important date for anyone who may have previously undisclosed offshore income and gains. 30 September is the date by which clients will have had to disclose income and gains and settled any tax liabilities arising. The date is critical because a number of new laws become effective from that…

We hope you are enjoying all this glorious sunshine!  Long may it continue …. A possible cloud on the horizon (hopefully only metaphorically speaking!) is that 31 July date is looming.  This is the date when many people have to make a second payment on account to HMRC.  If you think you earned less this…

Happy New Year everyone!  That is, Happy New TAX year! Good news is – the personal allowance goes up to £11,850. Good news for employees – the national minimum wage goes up! Bad news for company directors – the tax free dividend allowance goes down to £2,000. Good & bad news (depending on your view…

The General Data Protection Regulation (GDPR) (EU) is a regulation in EU law on data protection and privacy for all individuals within the European Union. It addresses the export of personal data outside the EU. The GDPR aims primarily to give control back to citizens and residents over their personal data and to simplify the regulatory environment…

It is nearly the end of the tax year so lots to remember …… if you run your own company, and have not yet taken advantage of your full £5000 dividend allowance, then you need to pay yourself a dividend before 6/4/2018.  Remember that the allowance drops to £2,000 from 6/4/18 if you run your…

2018 has got off to a great start! Following a handful of requests from our clients, we can now take debit or credit card payments at our office.  So if you prefer to pay your invoices using this method, then we are happy to oblige!